Finty is Singapore’s first rewards-based financial marketplace that focused on credit cards and personal loans. The direction is to make financial decisions simple, enjoyable, and rewards-driven. It’s the first financial marketplace in Singapore to offer cash rewards (Finty rewards) based on a revenue-sharing model. The CEO Andrew Boyd will be sharing more details with us.
What are the services you provide at Finty?
We work with major banks and American Express to have their products on Finty, credit cards and personal loans. Users can receive additional cash rewards (Finty rewards) on top of regular bank promotions if they apply through Finty.
Tell us more about your credit card services; the requirements and how it works?
By using Finty’s credit cards comparison features, a user can easily shortlist and apply for the selected cards, plus get additional cash rewards (Finty rewards) from Finty. After the user receives the credit card, there will be a Finty rewards redemption process. Once the verification is done, we will send the cash rewards to the user’s bank account.
The eligibility criteria for getting a credit card differs between banks, but most require applicants to be at least 21 years old and have an annual income of at least $30,000. That amount is for Singapore citizen or permanent resident. Foreign applicants will usually be required to have an annual income of $42,000 and above.
Are your financial services for Singapore only, who is eligible for your personal loans, how does it work?
Currently, Finty is only in Singapore, but the team is looking into other markets. The eligibility is similar to credit cards. Personal loans can be used for any purpose and the approval process is speedy. Upon approval, the amount is deposited into the customer’s bank account. Usually repayment will require customers to pay back on a monthly installment basis.
At what stage of development is Finty, what makes you special and what is next on your roadmap?
Finty is going through a rebranding stage, with a new look, plus better experience for users. We will be expanding our product shelf, and enhancing our technological capabilities, especially in the areas of operating model.
How Safe is Finty, would you like to talk about your legal and security measures?
We follow Singapore’s business regulations and even have our own internal guidelines on how we manage our communications to the users. In terms of security measures, Finty leverages Symantec for SSL security. On top of that, Finty has engaged independent security audit to ensure safety on our platform.
For more information, visit: https://www.Finty.com/