Packet Interactive, a wholly-owned subsidiary of Green Packet, has secured a digital lending license from Malaysia’s Ministry of Housing and Local Government.

The digital lending license complements the company’s existing money lending license.

In a filing with Bursa Malaysia, the new license allows Packet Interactive to broaden its financial offerings.

This includes focusing on digital lending solutions designed to meet the growing demand for flexible funding, particularly among small and medium enterprises (SMEs).

The company’s digital lending solutions include quick approvals enabled by advanced algorithms, flexible loan options tailored to operational and investment needs, competitive interest rates, a user-friendly platform for easy applications and loan tracking, financial education resources, and enhanced security protocols.

Green Packet aims to provide accessible borrowing options tailored to various financial needs, leveraging technology to streamline loan approvals and enhance user experience.

The company said in a statement,

“Apart from enhancing financial inclusions, the digital lending facility of Packet Interactive Sdn Bhd is focused on contributing to economic growth and sustainability in Malaysia.

While ensuring easy access to funds for the businesses, Packet Interactive Sdn Bhd is also looking forward to supporting entrepreneurship and job creation that would add to the overall economic development.”

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