Comments Off on How Malaysia’s top financial comparison site plans to dominate Southeast Asia
Suppose you want to compare loans, credit cards, or insurance plans. Depending on where you live, your destination would be different: Moneysmart in Singapore, Cermati in Indonesia, or RinggitPlus in Malaysia.
Now, on the surface, RinggitPlus doesn’t stand out – except that it claims to be the number one player in Malaysia, an assertion iMoney would challenge (iMoney did not respond to Tech in Asia’s multiple requests for comment). But Jirnexu, the company behind the website, is brewing something special. It all started with a revelation.
While the company focused purely on comparing financial products in the first one-and-a-half years of its history, it found that banks lacked an efficient way of converting the leads it provided. This affected Jirnexu’s bottom line, because it collects fees from clients for every approved customer referred.
“I had an overly romantic vision of doing in Southeast Asia what Money Supermarket has done in the UK,” says Siew Yuen Tuck, co-founder and CEO.