CTOS and PropertyGuru MoU to progress inovation in proptech

CTOS Data Systems Sdn Bhd (CTOS Data Systems), the wholly owned subsidiary of CTOS Digital Bhd (CTOS Digital), recently signed a memorandum of understanding (MoU) with a subsidiary of PropertyGuru Group (PropertyGuru) to work together on advancements in property-related technology to revolutionise the digital space of the commercial real estate business in Malaysia.

Lately, CTOS has been delving into numerous new verticals, with car insurance and tenancy screening having been added to the suite of services offered, while PropertyGuru operates Malaysia's leading property marketplaces, PropertyGuru.com.my and iProperty.com.my.

CTOS's partnership with PropertyGuru Group will amplify its venture into the proptech space where the integration of both parties' innovative solutions and data-driven insights will further address the needs of the property industry while improving consumers' and developers' efficiency as well as effectiveness in making more informed property investment decisions.

The MOU includes collaborations on wide ranging initiatives such as financial literacy where PropertyGuru consumers will get access to free CTOS reports with CCRIS and educational materials.

The partnership will also promote a clear understanding of the co-relation between credit health and real estate investment to offer consumers the ability to determine affordability, receive the right returns and assess credit risks in property purchasing.

Additionally, integrations between the two companies will enhance affordability, tenancy and loan eligibility tools not only for consumers but also landlords and property agents.

“Our partnership with PropertyGuru promises the start of a long and rewarding relationship between both companies with a joint aim to redefine customer experience in the real estate industry in Malaysia,” commented CTOS Digital group chief executive officer Erick Hamburger.

“We will pioneer new ground to increase market and performance insights for both parties and our clients, through data, analytics and innovation.

“Furthermore, together we can continue to promote our shared goal of increasing financial literacy across the country.”

PropertyGuru's Data and Software Solutions managing director Shyn Yee Ho-Strangas added that by harnessing the integrated power of their proprietary data, technology and people, their partnership allows them to share their expertise and knowledge in achieving several shared objectives.

“Consumers will be able to make more confident decisions throughout their property journey by having access to real time, accurate and independent data; agents will be able to service their customers more effectively and productively; and there will be an overall data and technology-enabled transparency and efficiency created in the real estate eco-system,” Ho-Strangas said.