Mah Sing Group and RinggitPlus partner to launch property chatbot Madam Loan

Leading property developer Mah Sing Group, in collaboration with RinggitPlus today to launch ‘Madam Loan’, the first of its kind artificial-intelligence-enabled chatbot for a Malaysian property developer. Madam Loan is an educational platform which also facilitates home loan applications. Potential home buyers can now get answers on home loan related questions and apply for their home loans via Madam Loan on www.madamloan.com.my, which will go live today.According to a press statement, the development of this technology product was sparked by a series of feedback received by Mah Sing from home seekers over the last several years. Currently, Madam Loan offers a bespoke service; it will show its users mortgage products and applicable Mah Sing properties after it assesses their financial circumstances. Customers can also use Madam Loan to apply for four banking mortgages.  The chatbot will provide users with the indicative loan amount that they can get from banks through the loan eligibility calculator, which has been programmed using the latest formulations and debt-service-ratio (DSR) limits from banks. In addition, they would also have the option to view relevant Mah Sing properties based on the loan amount that they are eligible for.Rachel Leong, Mah Sing Group’s director of group strategy & operations explained that with Madam Loan, Mah Sing can empower customers to engage with it in the way that they want, and connect with us on their own terms. Leong further added that chatbots are a game changers in property development, and Mah Sing has started its automation journey with certain company processes and service touchpoints. "Madam Loan aims to elevate our customer service by personalising interactions and reducing the time-of-first response. This helps customers interact with us in new, more efficient and scalable ways,” Leong said."We are honoured to partner with Ringgitplus to bring the best of technology to our customers. Madam Loan is powered by Ringgitplus’ natural language processing engine, which enables users to perform financial inquiries by employing conversational AI. She is also equipped with extensive financial knowledge, thereby relieving our customers from the hassle of navigating through multiple web pages,” Leong added.Madam Loan is catered mainly to first-time home buyers, deal seekers and financially constrained buyers. First-time home buyers usually have no experience in buying a property and Madam Loan will empower them with the financial knowledge and bring them one step closer to acquiring their dream home. On the other hand, deal  seekers will be able to take advantage of the features in Madam Loan to make well-informed financing and investment decisions. Lastly, financially constrained buyers who have limited cash flow ability will be able to obtain recommendations from Madam Loan on selected government schemes amongst Mah Sing projects that better suit their needs.Liew Ooi Hann, CEO of RinggitPlus said: “By combining Mah Sing’s 25 years of experience in property development along with our expertise in banking and technology as a fintech company, we are able to now provide a 24/7 conversational experience and end-to-end home loan enquiry and application service with four banks in Malaysia along with recommendations on properties in the Mah Sing portfolio which matches the affordability of every customer.""We believe that Madam Loan will be able to help out most buyers, particularly new home buyers to understand the processes involved when buying a property so that they are able to purchase their dream homes. We hope that more companies will take the opportunity to innovate their offerings because we highly believe that digitalisation is the next revolution that will shape future businesses in the time to come.”