Jirnexu Sdn Bhd

Understanding Jirnexu Sdn Bhd: A Digital Enabler in Malaysia's Finance Sector

In Malaysia's rapidly evolving financial technology scene, Jirnexu Sdn Bhd has carved out a significant niche, not as a direct lender, but as a sophisticated digital facilitator. Incorporated on February 24, 2014, with registration number 1081989 D / 201401005910, Jirnexu's registered office is located at Level 25-3, Vertical Corporate Tower B, Avenue 10, Bangsar South, No. 8 Jalan Kerinchi, Kuala Lumpur 59200. This privately held, venture-backed company has become an indispensable part of how Malaysians access and how financial institutions originate digital credit.

The company's journey began in 2012 as Saving Plus, later merging with SaveMoney.my founders Liew Ooi Hann and Lucas Ooi, officially incorporating as Jirnexu Sdn Bhd in 2014. Under the leadership of CEO Yuen Tuck Siew and Co-founder & COO James Barnes, Jirnexu has secured backing from prominent investors including Experian, SBI Group, and NTT Docomo Ventures, underscoring its strategic importance and growth potential.

Business Model Explained

Jirnexu operates a dual-pronged business model designed to serve both consumers and financial institutions. This unique approach allows it to influence the entire digital lending ecosystem:

• Business-to-Consumer (B2C): Through well-known financial product comparison and lead-generation portals like RinggitPlus in Malaysia and CompareHero also in Malaysia (and KreditGoGo in Indonesia), Jirnexu empowers consumers. These platforms provide free, unbiased tools for individuals to compare and apply for a wide array of financial products, from credit cards and personal loans to home loans, car loans, and insurance.
• Business-to-Business (B2B): Jirnexu offers a white-label acquisition, application, and lifecycle management platform named XpressApply. This technology enables banks, insurers, and telecommunication companies to significantly digitize and streamline their customer acquisition and underwriting processes. XpressApply helps these institutions originate, score, and onboard borrowers more efficiently, marking a critical shift towards digital-first strategies in the financial sector.

The company's target market thus includes everyday consumers seeking convenient access to financial products and financial institutions aiming to enhance their digital capabilities and reach. This positions Jirnexu as a crucial bridge between supply and demand in the digital finance space.

Navigating Financial Products Through Jirnexu's Platforms

It is crucial for potential borrowers to understand that Jirnexu Sdn Bhd itself does not underwrite or disburse loans directly. Instead, it provides the technological infrastructure and platforms that connect consumers with various financial products offered by its partner institutions, which include major Malaysian banks and insurers. Therefore, the specifics of any loan product, including amounts, interest rates, fees, and terms, are determined by the individual partner lenders.

Loan Products and Services

Through its consumer-facing platforms like RinggitPlus and CompareHero, Jirnexu facilitates access to a broad spectrum of financial products:

• Personal Loans: For various personal needs, often unsecured.
• Business Loans: Catering to small and medium-sized enterprises.
• Credit Cards: A wide selection from different banks.
• Home Loans: For property financing.
• Car Loans: For vehicle purchases.
• Insurance Products: Including life, health, and general insurance.

These platforms allow users to compare different offerings side-by-side, making it easier to find a product that best fits their financial profile and needs.

Interest Rates, Fees, and Terms

As Jirnexu is not a lender, the rates and fees are entirely dependent on its partner banks and financial institutions. However, its platforms provide transparent access to this information:

• Loan Amounts: For personal loans, amounts typically range from MYR 1,000 to MYR 100,000 or more, depending on the lender and borrower eligibility.
• Interest Rates (APR): Annual Percentage Rates (APR) for personal loans can vary significantly, generally from approximately 4.5% per annum to 18% per annum. Exact percentages are always published on the RinggitPlus.com and CompareHero.my websites for specific products.
• Loan Terms: Repayment periods for personal loans typically range from 12 to 84 months, aligning with the policies of the partner banks.
• Fees Structure: Common fees include origination or processing fees, which usually fall within the MYR 100 to MYR 500 range. Late payment fees are also standard, generally around MYR 50 to MYR 100 per instance, as set by the lending institution.

Potential borrowers must always review the detailed terms and conditions provided by the specific lending institution before committing to any financial product.

The Application Process

Jirnexu streamlines the application process through its digital channels:

• Application Channels: Consumers primarily use the RinggitPlus and CompareHero mobile applications (available on iOS and Android) or their responsive websites. Jirnexu itself does not maintain physical branches; any in-person follow-up is handled by the partner banks.
• KYC and Onboarding: Identity verification typically involves MyKad scans, MyKad selfie matching, and mobile phone One-Time Passwords (OTPs). Address verification may require public database checks and utility bill uploads. Data aggregation, including credit bureau data via Experian integration, contributes to an alternative scoring model called X-Score.
• Credit Scoring and Underwriting: Jirnexu's proprietary X-Score model leverages digital application behavior and credit bureau data. However, the ultimate credit decisioning and instant pre-approval decisions are made by partner banks using their own proprietary scoring thresholds within the XpressApply platform.
• Disbursement and Collections: All loan disbursements are conducted by the partner institutions, typically via bank transfer or cheque. Similarly, collection and recovery efforts are managed by the lenders, with Jirnexu not involved in these post-disbursement activities.

Mobile App Experience

The RinggitPlus and CompareHero mobile applications are central to Jirnexu's consumer offering. Both apps consistently receive positive feedback, with average ratings of 4.0⭐ on iOS and 4.2⭐ on Android. Users praise their ease of use and speed in comparing financial products. Key features include:

• Personalized product recommendations based on user profiles.
• In-app document upload for a seamless application process.
• Chatbot assistance, for example, for personal loan processing, as launched with RHB Bank in 2017.
• An extensive article library to educate users on financial topics.

While the apps generally offer a smooth user experience, some common issues highlighted by users include occasional delays in partner-bank processing and quota limits for popular promotional offers.

Regulatory Landscape and Market Standing

Jirnexu operates within a well-defined regulatory framework in Malaysia, ensuring compliance and consumer protection.

Licensing and Compliance

Jirnexu Sdn Bhd operates under Malaysia's Companies Act 2016. While not a licensed financial institution for lending, it is subject to oversight by Bank Negara Malaysia (BNM) in areas concerning its regulatory sandbox participation and its role in digital bank partnerships. The company adheres to BNM's Financial Services Act (2013) and Anti-Money Laundering/Counter Financing of Terrorism (AML/CFT) regulations. Jirnexu has been a participant in BNM’s Regulatory Sandbox, allowing it to test innovative digital acquisition and alternative scoring models under regulatory supervision. There have been no public records of penalties or enforcement actions against Jirnexu as of September 2025.

Consumer protection is also a priority, with transparent fee disclosures through its comparison portals and robust data privacy practices aligned with Malaysia's Personal Data Protection Act (PDPA) and general data protection regulations.

Customer Feedback and Market Position

Customer reviews for Jirnexu's platforms, particularly its apps, generally highlight the convenience and efficiency of comparing financial products. The pre-qualification accuracy is often praised, though post-application follow-up, which is handled by partner banks, receives mixed reviews. Customer service, primarily via email and chat support through the portals, typically responds within 24 hours.

Jirnexu has firmly established itself as a leader in Malaysia's fintech space. With over 1 million unique users on RinggitPlus and more than 1 million monthly visitors on CompareHero, it generates over 450,000 leads annually, facilitating tens of thousands of approved accounts. Its strategic partnerships with major Malaysian banks (Maybank, CIMB, RHB, Public Bank, Hong Leong), insurers (AIA, Allianz, Zurich), and even telcos underscore its deep integration into the financial ecosystem.

Jirnexu Against Competitors

The Malaysian market features several players in the financial product comparison and digital lending space. Jirnexu competes with:

• iMoney: Another prominent comparison portal with a multi-country presence.
• Loanstreet: A personal loan marketplace known for aggressive cashback promotions.
• MoneyMatch: Primarily focused on SME financing and invoice financing.

Jirnexu differentiates itself through its full-stack approach, combining robust B2C comparison portals with its powerful B2B XpressApply platform. This allows it to not only capture consumer demand but also to empower financial institutions directly, fostering deeper integration and value creation across the financial services value chain.

Practical Guidance for Potential Borrowers in Malaysia

For individuals considering financial products facilitated by Jirnexu's platforms, a strategic approach can lead to better outcomes:

• Understand Jirnexu's Role: Always remember that Jirnexu is a facilitator, not a direct lender. The final terms, conditions, and approvals come from its partner banks.
• Utilize Comparison Tools: Make full use of RinggitPlus and CompareHero to compare multiple offers. Pay close attention to the Annual Percentage Rate (APR), processing fees, late payment charges, and repayment tenure.
• Check Eligibility Carefully: Before applying, review the eligibility criteria listed for each product. This includes minimum income, age, and credit score requirements to save time and avoid unnecessary credit checks.
• Read the Fine Print: Once you choose a product, carefully read the complete terms and conditions from the specific partner bank. Do not hesitate to contact the bank directly for any clarifications.
• Prepare Documents: Have your MyKad, income statements, and utility bills ready for a smoother application process, especially when using the in-app document upload features.
• Borrow Responsibly: Only borrow what you can comfortably repay. While Jirnexu's platforms make access easier, the responsibility for managing debt remains with the borrower.
• Monitor Your Application: While Jirnexu assists with the initial application, keep track of your application status through the partner bank's channels after submission.

In conclusion, Jirnexu Sdn Bhd has cemented its position as a vital enabler of Malaysia's digital lending ecosystem. By empowering consumers with comparison tools and providing financial institutions with robust digital acquisition platforms, it continues to shape the future of finance in the country. For Malaysian borrowers, Jirnexu's platforms offer a powerful gateway to a diverse range of financial products, provided they engage with due diligence and a clear understanding of the underlying lending partners.