Putrajaya: AEON Credit Services (Malaysia) is eyeing growth in the civil service sector following salary increases for government employees.
Aeon Credit chief executive officer Lee Kit Song said rising household incomes would improve civil servants’ ability to access financing and payment instruments, thereby improving their repayment capacity.
“Currently, about 20 percent of our portfolio comes from civil servants. Salary increases will create an opportunity for us to further penetrate this segment. If current civil servants need loans, payment tools, credit cards etc, we can provide them with our services and products. At the same time, we foresee their increased household income providing some support in terms of their repayment capacity,” he said during a media presentation at AEON Credit’s refurbished flagship store today.
At the event, AEON Credit announced initiatives such as the introduction of the AEON Wallet app with digital onboarding and new features, enhanced credit card functionality, and the opening of renovated flagship stores and existing branches.
Powered by artificial intelligence, the digital onboarding process integrated into the Aeon Wallet app reduces processing time from three days to 52 minutes. The app also includes a basic wallet where users can store up to RM200, with the ability to scan, make payments and earn Aeon points.
Users can upgrade to a premium wallet through an electronic know-your-customer process.
“Digitalization is at the core of this effort, enabling us to integrate shopping and financial services in a way that streamlines interactions and transactions with all AEON Group’s customers, vendors, suppliers, tenants and shopkeepers through a unified touchpoint,” Lee said.
The company promoted strengthening efforts through customer acquisition activities in collaboration with the AEON Group and marketing campaigns highlighting enhanced card benefits.
Last year, Aeon Credit renovated two branches with a new brand concept and established a direct sales team to strengthen its brick-and-mortar store network and improve customer experience.
AEON Credit opened its refurbished flagship store at Setia City Mall in July, and the official opening of the new AEON Credit flagship store will take place at IOI City Mall Putrajaya on 31 August.
