Arkmind is exploring a collaboration with MDEC to help digital lenders share borrower data and reduce the risk of customers taking on more debt than they can carry.
Arkmind is exploring a collaboration with the Malaysia Digital Economy Corporation (MDEC) and the Association of Digital Lenders to consolidate borrower data across digital lenders. The aim is simple: make sure a customer does not take on more debt than they can carry.
The problem: a borrower no single lender can see in full
A borrower can apply to several digital lenders at the same time. While one application is still waiting for approval, the same borrower applies to another lender. Neither lender knows about the other request. Both approve. The borrower walks away with two loans, and a repayment burden that no one assessed as a whole.
This happens because of a gap in how credit information flows. A borrower’s CCRIS report shows their commitments to banks, but it rarely reflects what they owe to moneylenders. Many moneylenders do not report their portfolios to CTOS either. So a lender assessing a new application often sees only part of the picture, and over-exposure slips through.
What the solution would do
The idea is to get digital lenders to sync customer data with one another. When a lender checks an applicant, they would see existing and pending commitments across the wider digital lending market, not just the bank record.
That shared view helps in two directions. It protects borrowers from taking on debt they cannot service. And it gives lenders a more honest basis for each credit decision.
Why Arkmind
Consolidating data across many lenders is a data and trust problem before it is a product. It needs a neutral platform, clear rules on what is shared, and systems that already understand loan origination, credit evaluation, and collection. That is the work Arkmind does every day for digital lenders in Malaysia.
This collaboration is at an early, exploratory stage. We will share more as it takes shape.
If you are a digital lender and want to understand how shared borrower data could support your credit decisions, talk to our team.