CTOS Digital Berhad and Monash University Malaysia have signed a memorandum of understanding (MoU) to collaborate on data insights and analytics to advance research into the nation’s credit health.
In a statement, the credit reporting agency said the recently-inked MoU will facilitate industry-academia cooperation through research, analysis and exchange of ideas.
It added that through its wholly owned subsidiary, CTOS Data Systems Sdn Bhd, the company has been enabling people to gain access to credit for over 30 years. Eric Hamburger, group chief executive officer of CTOS Digital Bhd, said it is the agency’s hope that this MoU can further expand on the insights it can offer Malaysians for both parties.
“We know that the importance of understanding data and utilising the findings cannot be overstated.
“CTOS has the largest consumer and business credit database in Malaysia, and we are uniquely positioned to provide the most accurate assessment of the country’s credit situation.
“Our deep analytical capabilities combined with Monash’s research strength, can help the public, businesses, legislators, regulators, and other governmental organizations gain the best insights into the state of consumer credit in Malaysia as well as the economy as a whole,” said Hamburger.
According to Elsevier, one of the largest publishers of academic journals, university and industry collaborations have become more prevalent in the past ten years, where complementary skill sets have been identified.
Matthew Nicholson, vice president (research and development) at Monash University Malaysia, said the university is committed to being excellent, international, enterprising and inclusive; goals which are shared by CTOS Digital.
“Monash University is also committed to addressing the global challenges of our age, of which the development and maintenance of thriving communities is at the forefront.
“A fundamental part of ensuring we live in and among thriving communities is growth in financial literacy, growth in financial independence and growth in financial security, for individuals, families, communities and businesses,” said Nicholson.
In this context, he said there is no better partnership for Monash University Malaysia than CTOS Digital, a company that is positioned at the very heart of Malaysia’s financial ecosystem.
Leading the analytics from Monash will be Nafis Alam, head of the school of business at Monash University Malaysia.