JurisTech co-founder WaiHun (L) and iMoney co-founder Lee Ching Wei
Malaysia-based JurisTech, a provider of software solutions for banks, financial institutions, insurance providers and telecom companies, today announced the acquisition of local financial products and loans comparison platform iMoney.
The transaction details were not disclosed.
This announcement follows reports of iMoney’s largest shareholder iSelect exiting the company by selling its investment back to one of the founders for a “nominal value” due to uncertainties caused by the pandemic.
According to The Edge, iSelect reportedly held 84.3 per cent stake in iMoney.
Also Read: Australian financial comparison site iSelect acquires majority stake in iMoney
The acquisition will allow both companies to fuel growth through enriching customer experience and deepening the relationship with their financial institution partners, as per a press statement.
“With the world heading towards digital banking, banking is no longer just a transactional business but also an end-to-end experience for consumers, starting from education to holistic user experience. We are delighted to have iMoney join us in our journey to expand our innovation by offering beyond just enterprise solutions to our clients,” said See Wai Hun, Co-founder and CEO of JurisTech.
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Wai Hun added that faster loan approvals and accurate matching of the right financial products for consumers can only be achieved with superior technology coupled with consumer know-how.
“JurisTech will help to improve the platform’s technology capabilities and enhance its product matching capabilities. As part of the company, we can now provide a better experience to consumers including more refined product matching capabilities and improve the customer journey to make applying financial products easier,” said Lee Ching Wei, Founder of iMoney.
Also Read: Malaysia’s iMoney makes major management shifts ahead of new round
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Image Credit: Omar Elsharawy
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