KUALA LUMPUR: AmBank has scored a first in Malaysia by launching ‘AmMoneyLine/-i,’ an online debt consolidation capability on AmOnline, its consumer digital banking platform.

It helps customers manage their debt burdens better. Whether the goal is to consolidate expensive card and non-card debt into a single and attractive rate or restructure debt over a longer period to manage the monthly outflow burden, AmMoneyLine/-i has a planning feature to help customers construct various repayment tenures and understand their repayments better.

AmBank said in a statement that besides being easily accessible online, it also has quick approval turnaround time.

AmMoneyLine/-i Cash Out Plan, on the other hand, offers a simple and hassle-free personal loan application. Applications are processed within three working days, subject to complete documentation submissions. The approved loan amount is accessible within AmOnline.

“We are constantly improving and enhancing our Quick Apply feature on AmOnline. We design experiences that meet the financial objectives of our customers across different life stages,” said Aaron Loo, managing director, retail banking, AmBank (M) Bhd.

“The AmMoneyLine/-i online debt consolidation comes at an appropriate time when things are getting tougher. Clients can consolidate their loans and reduce their cash flow burden either with reduced interest rates or by stretching their repayment period,” added Loo.

“AmOnline offers an easy online experience for both personal lending as well as debt consolidation to our customers. In understanding the financing needs of Malaysian customers, we detected the latter was not being addressed adequately.” said Datuk Iswaraan Suppiah, group chief operations officer, AmBank Group. – Jan 10, 2020 Bernama

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