KUALA LUMPUR, Malaysia, May 15, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”) today announced that its fintech subsidiary, Credilab Sdn Bhd (“Credilab” or the “Company”) has secured a conditional approval for a digital moneylending license from Malaysia’s Ministry of Local Government Development (“KPKT”). This regulatory green light marks a significant milestone in the company’s mission to democratize access to fast, AI-driven financing across Southeast Asia.
Credilab is spearheading VCI Global’s fintech expansion strategy by delivering same-day loans with near-zero non-performing loan (NPL) rates. Its proprietary decision-making engine processes real-time behavioral, transactional, and alternative credit data to score, approve, and disburse loans with exceptional accuracy and speed. With this license, Credilab is authorized to provide fully automated, end-to-end digital loans in Malaysia, including microloans and financing for small and medium-sized enterprises (SMEs), with approvals and disbursements completed in as fast as two minutes.
The license also enables VCI Global’s fintech platform to operate without the need for physical branches, allowing for nationwide scalability with minimal overhead. Through a fully paperless onboarding process, AI-driven credit scoring, and instant Know Your Customer (KYC) verification, borrowers can now access capital in real time using just a smartphone.
This milestone comes on the heels of VCI Global’s recently announced 155% year-on-year revenue growth in 2024 across its technology and fintech segments. The Company has also attracted strategic capital investment, including a US$1 million injection from a Dubai-based institutional investor, aimed at accelerating the development and deployment of its digital lending infrastructure.
“This license is more than regulatory approval; it’s validation of the technology and vision behind Credilab. We’ve engineered a platform that can assess, approve, and fund loans in under two minutes, using AI and real-time data. This speed, accuracy, and scalability allow us to serve both consumers and SMEs with unprecedented efficiency,” said Henry Chai, Executive Director of Credilab and Group Chief Technology Officer of VCI Global.
According to Astute Analytica, Malaysia’s microfinancing market is projected to reach US$11.68 billion by 2032, growing at a compound annual growth rate (CAGR) of 17.5% between 2024 and 2032. This growth is fueled by the region’s expanding middle class, rising disposable incomes, and increasing demand for accessible, fast, and affordable credit solutions. In parallel, favorable fiscal policies and government support for fintech innovation, including progressive regulations such as Malaysia’s digital lending framework, are creating a fertile environment for sector growth.
These dynamics presents a strong opportunity for Credilab to scale its AI-powered digital lending platform and solidify its position within Malaysia’s and the region’s broader fintech ecosystem. By offering instant, secure and inclusive financial solutions, Credilab is well-positioned to meet the credit needs of underserved consumers and SMEs, driving financial inclusion and enhancing economic resilience.
“Credilab’s digital lending license marks a major inflection point in VCI Global’s fintech growth journey, it unlocks true fintech velocity. This milestone reinforces our commitment to building AI-first financial infrastructure that meets the evolving credit needs of the region. With this approval, we’re not just accelerating loan delivery; we’re advancing financial inclusion and opening new pathways for scalable, technology-driven impact in Malaysia,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About Credilab Sdn Bhd
Credilab is a proprietary fintech platform designed to streamline the digital lending process, from online applications and credit scoring to Know Your Customer (KYC) verification and disbursement. It offers customized financial analytics, strengthens regulatory compliance, and ensures secure payment processing.
Focused on financial inclusion, Credilab provides accessible micro-financing solutions to underserved individuals, bridging the credit gap with advanced technology and user-centric design.
Key features of Credilab include:
- Instant Cash Loans with minimal documentation
- Short Processing Times for fast disbursements
- Flexible and Convenient Repayment Options
For more information, please log on to https://www.credilab.my/.
About VCI Global Limited
VCI Global is a diversified global holding company with a strategic focus on AI & Robotics, Fintech, Cybersecurity, Renewable Energy, and Capital Market Consultancy. With a strong presence in Asia, Europe, and the United States, VCI Global is committed to driving technological innovation, sustainable growth, and financial excellence across multiple industries.
For more information on the Company, please log on to https://v-capital.co/.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company’s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company’s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company’s products and the Company’s customers’ economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company’s filings with the United States Securities and Exchange Commission (“SEC”). The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
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