VCI Global fintech subsidiary advances toward full digital lending rollout

VCI Global (VCIG) announced that its fintech subsidiary, Credilab Sdn Bhd has secured a conditional approval for a digital moneylending license from Malaysia’s Ministry of Local Government Development, KPKT. This regulatory green light marks a significant milestone in the company’s mission to democratize access to fast, AI-driven financing across Southeast Asia. Credilab is spearheading VCI Global’s fintech expansion strategy by delivering same-day loans with near-zero non-performing loan rates. Its proprietary decision-making engine processes real-time behavioral, transactional, and alternative credit data to score, approve, and disburse loans with exceptional accuracy and speed. With this license, Credilab is authorized to provide fully automated, end-to-end digital loans in Malaysia, including microloans and financing for small and medium-sized enterprises, with approvals and disbursements completed in as fast as two minutes.