Managing finances and maintaining fluid cashflow is a challenge for many Singaporeans. In Singapore, there is a community of people faced with limited credit access.
In cases where such help is needed, premier licensed microfinance company, Crawfort, offers a viable financial solution.
Founded by brothers Jjohn and James Cheow, the company is leading the way when it comes to upping the ante on traditional models of moneylending, and bringing it into a new era of technology-enabled consumer finance.
Says Mr Jjohn Cheow, its co-founder and chief investment officer: "Our experience as entrepreneurs has made us realise how hard it is to access capital when you need it the most.
Because of this, we identify and empathise with others like us, and want to help individuals, and small and medium enterprises, who need access to credit facilities."
Starting a revolution
Since Crawfort was founded in 2011, the firm has sought to drive innovation and leverage on the emergence of smart digital processes. With these capabilities in force, the company was able to hit a new high in the streamlining of internal processes and optimising resources to achieve greater efficiency and productivity.
Today, Crawfort has become a trusted brand offering a suite of loans ranging from personal, business to bridging, for a wide range of customers. The company has seen an uptick in returning customers - an indication of its quality of service and appeal of its comprehensive range of products. Serving as further testimony of its excellent customer service standards and delivery, Crawfort has achieved 98 per cent customer satisfaction reviews.
Says Mr James Cheow, co-founder and chief executive officer: "At Crawfort, customers are our primary focus. Sincerity, respect and empathy are at the heart of our corporate culture and we believe excellent customer service is a direct reflection of these values.
We build trust through the way we approach customer service, and we place a huge
emphasis on building a partnership with our customers. We treat every customer with utmost respect, and we like to make them feel at home. Over time, because of this, we have come to gain their trust and confidence."
Trailblazing the way
In spite of the government's implementation of new moneylending curbs - which has largely shrunk the industry in terms of providers - Crawfort has stayed aligned with these changes and has witnessed accelerated growth.
Through innovation and its overall approach to conducting business, it has looked to differentiate itself from the rest of the pack and is continually changing perceptions around moneylending.
First, Crawfort offers bestin- class customer service and hospitality. It conducts transactions in a comfortable and welcoming environment, and provides consistent service delivery through quality customer care. Its onboarding and approval processes also provide customers with a simple and seamless experience in applying for access to credit facilities.
Second, it appeals to a new breed of customers who are seeking an intuitive and impeccable user experience. Crawfort has employed the use of innovative solutions to process its loan applications using proprietary algorithmic formulas in its predictive scoring credit methodologies.
Its approval process is fast and delivers responsible lending, without compromising on compliance and face-to-face customer screening.
Adds Mr Jjohn Cheow: "We've always sought to be a pioneer in the industry in many respects. For instance, we were the first moneylending business to use AXS and SAM machines and post offices for repayment transactions. Thanks to our adoption of the best of today's technology, we have optimised internal processes, and this has translated to happy customers."