5 days ago
- Business
- New Straits Times
Infomina, Geolytik to advance digitalisation of property valuation, financing
KUALA LUMPUR: Infomina Bhd has partnered with Geolytik Tech Sdn Bhd to form a joint venture called Infomina Geolytik Sdn Bhd to advance the digitalisation of property valuation and financing in Malaysia.
The initiative also seeks to promote greater transparency, efficiency and trust within the industry.
Central to the collaboration is the ValuationXchange platform, which is endorsed by PEPS Ventures Bhd.
The platform is designed to strengthen compliance with the Malaysian Valuation Standards (MVS) among all stakeholders in the sector.
According to Infomina, ValuationXchange provides a secure, tamper-proof platform that enhances transparency and minimises the risk of valuation manipulation during the loan approval process, fostering trust and accountability among all involved parties.
"Through ValuationXchange, real estate agencies can pre-validate buyer credentials before submission to banks. This reduces loan application rejections and speeds up approval processes," it added.
The company said the initiative aligns with Bank Negara Malaysia's efforts to drive digital transformation in the financial services sector and supports the MyDigital blueprint's vision of establishing Malaysia as a digitally driven, innovation-focused economy.
Infomina chief executive officer and managing director Yee Chee Meng said ValuationXchange brings together valuers, real estate agents and banks within a unified digital ecosystem, allowing for quicker, more precise and regulation-compliant results.
"The market is calling for greater transparency and efficiency in how property valuations are conducted and applied in financing decisions," he said.
