Ngern Tid Lor PCL reinforces leadership in retail financial innovation, moving forward to expand portfolio issuing “Tidlor Card” to over 300,000 loan customers, helping increase convenience in withdrawing cash according to approved limits 24 hours a day from leading commercial bank ATMs nationwide. Reduces steps in submitting new loan documents and reduces travel time to branches. Ready to organize campaign for sedan and pickup truck title loans with Tidlor Card from today until May 31, receiving special interest rate of only 0.79% per month. Additionally, Q1 2022 performance in both vehicle title loan and insurance brokerage remains in a good continuous direction.
Mr. Piyasak Ukritnukun, Managing Director of Ngern Tid Lor Public Company Limited or TIDLOR, revealed that the company received good response from introducing the “Tidlor Card” innovation to serve motorcycle title loan customers and expanded the portfolio issuing such cards to sedan and pickup truck title loan customers. Currently, over 300,000 cards have been issued, continuously increasing from 285,000 cards at the end of 2021. It was found that last year customers used Tidlor Cards to withdraw money from leading commercial bank ATMs nationwide more than 1 million times, considered a satisfactory response. The highlight of Tidlor Card is being a revolving cash card helping the company's vehicle title loan customers withdraw cash according to approved credit limits 24 hours a day via leading commercial bank ATMs nationwide. It is a financial innovation helping increase convenience and speed for customers when they need access to funds in necessary times, and helps reduce steps in submitting new loan documents without traveling to branches, saving time and reducing travel costs as well.
Moreover, the company organized a campaign for sedan and pickup truck title loans with Tidlor Card from today until May 31, 2022, charging a special interest rate of only 0.79% per month to help reduce the burden for those needing access to funding sources for working capital or liquidity in business operations under the current situation where the cost of living is higher from inflation impact and rapidly increasing energy prices.
“The feedback from customers using Tidlor Card to withdraw cash from ATMs in large numbers reinforces that we are on the right track. It also helps reduce long-term business operation costs from not needing to add a large number of employees to handle loan approvals, and allows expanding service scope to be more comprehensive via over 50,000 leading commercial bank ATMs nationwide such as Bank of Ayudhya, Siam Commercial Bank, Bangkok Bank, Kasikornbank, Krung Thai Bank, and Government Savings Bank. We expect customers to use Tidlor Cards to withdraw cash from ATMs this year totaling no less than 3,000 million baht. Additionally, Q1 2022 performance in both vehicle title loan and insurance brokerage remains in a good continuous direction,” Mr. Piyasak said.