AturDuit’s online platform allows consumers to find, compare and apply for various financial products offered by multiple banks and finance companies

Country: Malaysialogo
Launch date: 2012
Founded in 2012, AturDuit is a subsidiary of iMoney Group, which provides financial product comparison portals in Indonesia, Malaysia, Hong Kong, Philippines, Thailand and Singapore. AturDuit represents the Indonesian operations of iMoney Group.

Concept

  • AturDuit empowers consumers in Indonesia with key information required to make educated and well-informed financial decisions when applying for mortgages, insurance products, credit cards, savings and deposits
  • AturDuit’s revenue model is based on charging banks and finance companies a lead generation fee every time a consumer applies for a financial product through the AturDuit platform
  • Facts and figures:
    • AturDuit has partnerships with major banks and financial services companies, such as ANZ, Mandiri, HSBC, BCA, Citibank, CIMB Niaga and Standard Chartered
    • The company estimates its target market size as 233,500,000 consumers in 6 markets
    • iSelect Ltd ($4M), an Australian online comparison company, invested about USD 4M in iMoney Group in 2014. Prior to that, a consortium of international investors led by a Singaporean VC firm, Jungle Ventures, invested USD 2M in series A funding in 2013

Consumer Benefits

  • For consumers, AturDuit offers the following two key benefits:
    • Convenience: Instead of visiting or calling multiple banks and financial services companies to enquire about products and their details, the AturDuit platform serves as a single source of information for consumers to compare competing financial products offered by a range of banks and finance companies. In addition to the comparability tool, AturDuit provides added convenience to its consumers through its online application feature for the products
    • Cost: AturDuit’s services are free of cost for consumers
  • For banks and finance companies, AturDuit offers the following key benefit:
    • Accessibility: AturDuit’s online application tool provides banks and finance companies with an additional way to widen their customer base and access clients beyond their traditional marketing and client acquisition methods

Illustration

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