Planworth Introduces QR Code Verification to Enhance Document Security
13 April 2025
Kuala Lumpur – Driven by the significant increase in demand for Planworth’s “Financial Support Letter” among MSMEs to enhance the confidence of contract issuers, Planworth continues to strive towards improving customer experience while offering services that are more transparent, secure and trusted.
Planworth has made history as the first company in the alternative financing industry to launch a QR Code Instant Verification system for customers’ official documents. This innovative initiative redefines standards of transparency, integrity and security. This strategic move also reinforces Planworth’s commitment to strengthening customer and contract issuer trust, while enhancing confidence and transaction security within Malaysia’s financing industry landscape.
Effective 9 April 2025, in addition to the Financial Support Letter, the Indicative Offer Letter and Financing Offer Letter will also be equipped with a unique QR Code, enabling contract issuers to instantly verify the authenticity of documents via Planworth’s digital verification portal – with just one scan using a mobile device – fast, accurate and secure.
“As an industry leader and pioneer in shaping a stronger and more transparent financing ecosystem in Malaysia, we are constantly seeking new ways to deliver greater value, safer and more reliable services in the interest of MSMEs, to accelerate their business growth. The use of QR Code is part of our continuous commitment to improving security and building long-term trust with our customers and contract issuers,” said Dato’ Andy Kuek, Chief Executive Officer of Planworth.
Moving Forward in Line with Global Standards
The use of QR Code for document verification has been widely adopted internationally by multinational corporations and government agencies in places such as Singapore, Europe and the United States. By adopting this technology, Planworth demonstrates that a local company is also capable of competing and integrating global best practices into daily operations, thereby enhancing its credibility among customers, business partners and the business community.
Faster Processes, Reduced Risk of Forgery
With just a single scan using a mobile device, customers and partners can now instantly verify the authenticity of Planworth documents through the company’s secure digital verification portal. This initiative not only speeds up the verification process, but is also designed to reduce the risk of forgery and document misuse, thus protecting the interests of customers and contract issuers while strengthening confidence in every transaction.
Supporting National Digitalisation Aspirations
As a leader in industry innovation, this initiative also supports the nation’s aspirations towards the digitalisation of the financial and local business sectors. Planworth remains committed to introducing new technologies that simplify and accelerate customer processes while maintaining the highest security standards.
About Planworth
Planworth is a leading provider of collateral-free invoice financing and supply chain financing in Malaysia. As a subsidiary of the Grand Columbia Group, Planworth offers flexible and fast financing solutions to small and medium enterprises (SMEs), publicly listed companies, and contractors dealing with government agencies, government-linked companies (GLCs) and the private sector.
With strong financial backing and proven operational efficiency, Planworth remains committed to empowering customers nationwide with safe, convenient and trustworthy financial solutions.
Planworth has channelled over RM2.5 billion in financing to numerous customers through various facilities such as invoice financing/factoring, purchase order financing, as well as conventional and Islamic term financing. In addition, Planworth has supported contracts worth more than RM4 billion in the supply and services sectors, and this figure continues to grow.
Planworth is also the first and only alternative financing company to have received multiple prestigious awards in Malaysia and Singapore. As the only alternative financing company to receive a 4-out-of-5 star accreditation under the SME Competitiveness Rating Enhancement (SCORE) by MRANTI (based on financial strength, business performance, human resources, technology adoption, certification and market presence), and a recipient of the Enterprise 50 (E50) Award by SME Corp Malaysia, these recognitions further strengthen Planworth’s position as a trustworthy and reliable financial institution.
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