Peer-To-Peer (P2P) in the corporate industry started off to improve efficiency and transparency of conversation in the whole finance and documentation arrangements between key individuals. The question is; how does it work through in the lifestyle of the current world’s development for small-medium-enterprises? ABR is here to explore that today with the CEO of Funding Societies, Wong Kah Meng.
One of the key features that entrepreneurs can receive upon registering with Funding Societies is that; they are able to receive access to financing through a quick and hassle-free process by relying on alternative data with consent and leveraging on future technologies for a superior application experience and the overall process. In conjunction with that, P2P financing with Funding Societies is able to tailor the unique requirements of business for each stage of their lifecycle in meeting their financial needs.
Eventually, it allows SMEs to receive the profound advantage of non-conventional channels through Funding Societies. On the other hand, P2P financing offers shorter-terms between 1 to 12 months tenure or lower-amounts ranging below RM500,000.
We have reached the year where millennials have grown up and started to master the needs in the economic sector or technology. As reported by Funding Societies, nearly 70% of the registered investors are group individuals between the age of 24 to 39 years of age. Interestingly, the majority of them are young professionals with less time to further study or have done deep research on a particular stock or industry. With P2P, it creates an advantage to the group by doing the effort of research on their behalf.
As we evolve to the new changes of future technologies and advancements together as a universal team, return of investment (ROI) and hard work are delicately straight-forward. On the other hand, not every single investor is looking to explore the same information, every time. Henceforth, diverse investment outlines are accompanied to suit the current macroeconomic environment and communities.
Therefore, age is just a number. But; the key difference is how individuals react to the transformation of the world; be it in the economy, technology or the supply chain industry as a whole. Once we progress together as a community with information being supplied and investment finance being tracked from all directions to see the end result, the process is a mastermind of unified success as a team.
When it comes to money chats, everyone pays attention. This is due to the fact that money seems to talk without anyone having to do anything about it. On a brighter note, having a database will allow for a deeper understanding and trust for key person(s) to agree on what they are being presented with. On that account, a thorough accessing of a company’s financial record is one of the ways that P2P financing platform operates; thus pitching to investors is not required. With the SMEs credit and financial strength, Funding Societies will be able to determine if the company is eligible to obtain financing and the approved amount and tenure will be notified. There are no differences between different shark tanks in the whole ecosystem with Funding Societies; this is due to the overall end-to-end process of the arrangements being extremely direct and simple.
New innovations and trends have been advancing as we breathe; and as industry survives and emerges within the current economic challenges, owning up to what is coming through is a vital aspect for the SME to well adapt to anything that is being laid out in the surface of the community developments, be it technological, finance or investment-related products.
In conclusion, everything is a learning process and once we master the art of doing that; applications come through and as a digital financing platform, Funding Societies is ready to assist on that matter.
About Funding Societies
Launched in 2017, Funding Societies is the first and largest P2P digital financing platform in Malaysia. In Indonesia and Singapore, it is known as Modulku with RM4 billion in disbursements of working capitals for SMEs in SEA.
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Nurul Zamrè is an ardent writer for the past 15 years of her living tenure on science & technology, agriculture, health, communities, management and more. She is also a News Anchor at RTM, a general manager of AHVN, a model, VO artist, emcee, gymnast, ballerina and a lover of everything chocolates.
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