Money Lender Association Of Singapore (MLAS) is renamed to Credit Association Of Singapore (CAS).
The training programme has helped hundreds of individuals to clear their IPTO exam and helped to ensure that their daily operations are in compliance with the regulations.
The launch of the revamped CAS Website and CAS Training, CAS Web Portal, MOUs and ML Loan System 2 Information Sharing Web Portal, has contributed to a substantial increase to over thousands of searches per day. www.moneylenders.sg is now also integrated with DP SME Credit Bureau for real time data submission. These features and improvements are now assisting moneylenders when they are processing loan applications in real time
CAS has signed a Memorandum of Understanding 3 with CASE to allow for mediation between moneylenders and borrowers. Moneylenders or borrowers can now approach CASE to help with mediation as well. CAS has also approached Silver Lining in regards to working with them. CAS has requested names of borrowers, who have approached Silver Lining, to ensure that loans are not extended to these borrowers. Discussions are still ongoing at the moment.
The ML Loan System developed by Sivren Pte Ltd has also gone from strength to strength with real-time integration with DP SME Credit Bureau, the CAS Information Sharing Web Portal and heightened security systems such as audit trails and bank statement reviews to ensure moneylenders have a smoother and secure operation of their businesses.
Courtesy of CAS