BlueDuck Goes Commercial With New Zero-Deposit Solution
BlueDuck Smart Commercial allows retail chain outlets and SMEs to promote cash flow and reduce vacant units in a post-pandemic environment
Homegrown fintech startup BlueDuck launched its latest product, BlueDuck Smart Commercial, underwritten by Allianz General Insurance Company (Malaysia) Berhad (Allianz General), today.
This initiative paves the way for BlueDuck to expand its business, catering to a diverse customer base that includes residential and commercial properties. BlueDuck Smart Commercial functions as a new standard that offers the rental market a reliable and convenient tool as well as a viable substitute to the conventional rental deposit, while at the same time helping businesses to improve their cash flow during this post-pandemic period.
Furthermore, BlueDuck’s customers can also benefit from a new feature, known as BlueDuck Tenant Profile. Similar to a “resume”, tenants can highlight their credentials to appeal to potential landlords, without the need to communicate face-to-face or virtually, and serves as a reference for landlords so that landlords can ensure that the prospective tenant placed in a home comes with the right credentials. Most importantly, this helps create an upgraded yet realistic user experience by building credibility and promoting transparency throughout the user’s journey.
“BlueDuck’s vision is to embrace the advancement of technology and develop a holistic yet innovative fintech solution for the local real estate market, where it is accessible and affordable for both landlords and tenants. With BlueDuck’s solution, everyone can afford to rent affordably locally without forking out a hefty sum of a deposit. Therefore, BlueDuck proudly brands their services towards the needs of the customers and strive to make the transaction easier, faster, and more secure for them too,” said Earnest Wong, CEO of BlueDuck.
Since the launch of Zero-Deposit Solution for residential properties in 2020, BlueDuck has achieved several milestones, most notably:
- BlueDuck Zero Deposit subscriptions have skyrocketed at an average growth rate of 64.83 percent per month
- BlueDuck unlocked a total of RM 5 million since August 2020, with an average growth rate of 28.8 percent per month
- More than 75 percent of the landlords received their rental payment on time each month using BD Pay – An FPX Direct Debit Enabler.
Moreover, BlueDuck believes that the BlueDuck Smart Commercial is a defining piece in building a robust rental ecosystem, which will greatly facilitate interoperability between property owners and increase accessibility for tenants to enjoy deposit-free rental where it is hassle-free.
“While the country is still actively recovering from the pandemic, the adoption of BlueDuck Smart Commercial cannot come at a more timely manner to support local business owners with its cutting-edge digital technology and reduce vacant commercial units in the real estate industry. This product launch was well-timed as it helps retailers and SMEs to improve the cash flow and expand the businesses at the same time,” said Caleb Khoo, Director of BlueDuck.
Allianz Malaysia Berhad Chief Executive Officer, Sean Wang, said: “As insurers, our focus is on delivering products and services that not only provide relevant protection but bring a meaningful difference to our customers. In the last two years, we have seen the impact of COVID-19, and we are eager to support retailers and SMEs in their post-pandemic recovery. We are pleased to collaborate with BlueDuck and deliver a positive experience for renters and landlords during difficult times”.
This is a press release provided by Allianz Malaysia.
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