KUALA LUMPUR: CTOS Digital Bhd wholly owned subsidiary CTOS Data Systems Sdn Bhd recently signed a memorandum of understanding (MoU) with a PropertyGuru Group subsidiary to work together on advancements in property-related technology (proptech) to revolutionise the digital space of the commercial real estate business in Malaysia.
Credit reporting agency CTOS has lately been delving into numerous new verticals, with car insurance and tenancy screening having been added to its suite of services offered, while PropertyGuru operates property marketplaces PropertyGuru.com.my and iProperty.com.my.
CTOS’s partnership with PropertyGuru will amplify its venture into the proptech space where the integration of both parties’ solutions and data-driven insights will further address the needs of the property industry while improving consumers’ and developers’ efficiency as well as effectiveness in making more informed property investment decisions.
The MoU includes collaborations on wide ranging initiatives such as financial literacy where PropertyGuru consumers will get access to free CTOS reports with CCRIS and educational materials. The partnership will also promote a clear understanding of the correlation between credit health and real estate investment to offer consumers the ability to determine affordability, receive the right returns and assess credit risks in property purchasing. Additionally, integrations between the two companies will enhance affordability, tenancy and loan eligibility tools not only for consumers but also landlords and property agents.
CTOS Digital CEO Erick Hamburger said its partnership with PropertyGuru reflects a joint aim to redefine customer experience in Malaysia’s real estate industry.
“We will pioneer new ground to increase market and performance insights for both parties and our clients through data, analytics and innovation.”
PropertyGuru Group managing director of data and software solutions Ho-Strangas Shyn Yee said the partnership allows consumers to make more confident decisions throughout their property journey by having access to real time, accurate and independent data; agents will be able to service their customers more effectively and productively; and there will be an overall data and technology-enabled transparency and efficiency created in the real estate eco-system.