[04 MAY 2017] Cash Credit, a fintech and lending company providing financial services to individuals and microentrepreneurs, together with FINTQnologies Inc. (FINTQ), the fintech arm of PLDT and Smart’s Voyager Innovations, launched today its internationally recognized and award-winning loan service, PERA AGAD, to the Cebu market.
Pera Agad offers a unique and pioneering unsecured loan service for amounts of up to ten thousand pesos (PHP 10,000) and targets predominantly the unbanked and underserved population in the Philippines. The loan process is fully digital and provides Smart Prepaid and TNT subscribers access to financial services, including those who have not previously borrowed from a financial institution.
Cash Credit has established a partnership with FINTQ in the Philippines in order to provide an accessible alternative for financially excluded individuals.
The service uses Cash Credit’s proprietary machine learning algorithm to assess the credit-worthiness of participants who opted-in based on their mobile consumption history and behavior. This unique approach has been successfully tested and launched on three continents across the globe in partnership with mobile operators, in Europe, Africa and Southeast Asia.
The local brand of the service is Pera Agad and it is delivered to the market online and via mobile. Approved loans can be cashed out through selected partner outlets of SMART Padala.
After successful soft launches in Metro Manila and South Luzon, Pera Agad is extending its services in Cebu, offering Cebuanos a convenient and transparent cash loan service.
Pera Agad loans will benefit micro- and-small enterprises and individuals who need cash fast. Applying for a loan is done digitally and approved within minutes. To avail of the service, borrowers who are of legal age need to present a valid government ID. They also have to be a SMART prepaid or TNT subscriber for at least 6 months.
Customers may begin applying for a loan via mobile or at www.peraagad.ph, and collect the loan amount in select Smart Padala Centers around Cebu once approved. Repayment of the loan is very convenient with a long list of partners that include 7-Eleven, Cebuana Lhuillier, Bayad Center, among others.
“Today, we are extremely happy to be in Cebu and to expand further the reach of a service which we all believe can change the way Filipinos access loans. Our advanced big data analytics and technology allows us to proudly state that we can create impact and sustainably grow the unbanked and underbanked individuals, turning them into established borrowers with credit history and economically include them. For us, Cash Credit is a cause in which we deeply believe and is a good example of how lives can be changed by marrying vision, technology and science,” says Diana Krumova, President and Group Chief Commercial Officer of Cash Credit.
“We are excited to see Pera Agad launch here in Cebu. Enabling access to micro-loans via digital technologies through our partners such as Cash Credit is at the core of our commitment at FINTQ to growing financial inclusion by enabling our partners with breakthrough technologies that provide easy and convenient lending opportunities to Filipinos,” said Lito Villanueva, managing director at FINTQ.
The service will be fully rolled-out nationwide by the end of the year and more financial services will be offered in cooperation with FINTQ and its partners.
About Cash Credit
Cash Credit is a Fintech (financial technology) company founded in 2012 currently operating in four countries on three continents (Bulgaria, South Africa, Cameroon and the Philippines). The company partners with various data providers such as telcos, banks and other financial institutions to offer micro credit products to end users and lending scoring technology to financial institutions. Cash Credit provides its partners with two distinct competitive advantages – a unique scoring methodology to acquire new unbanked or underbanked customers or to enhance services to the existing ones and a fully developed ecosystem to disburse and collect the loans.
About FINTQ
FINTQ is the leader in customer-centric, demand-driven, mobile-first, value-creating, and inclusive digital financial innovations through collaboration across strategic markets with award-winning and pioneering platforms, products and services. It is the largest and the only financial technology business with diverse digital banking and finance portfolio of platforms including lending, security, micro-savings, insurance, disbursements, micro-credit and virtual banking, among others. For more information about FINTQ and all of its products and services, please visit www.fintq.com.
Pioneering digital access to finance for farmers. In photo are FINTQ Managing Director Lito Villanueva, Voyager President and CEO Orlando B. Vea, PLDT, Smart, Voyager and FINTQ Chairman Manuel V. Pangilinan, Producers Bank Chairman and Chief Executive Officer Andres M. Cornejo, Producers Bank Board Director Gilda E. Pico, and Producers Bank President and Chief Operating Officer Manuel A. Castañeda III.
[24 APRIL 2017] Starting next month, farmers can already apply for loans which could help them finance and increase their farm production, through the country’s first mobile-based digital agricultural crop loan service offered by thrift bank Producers Savings Bank Corporation (Producers Bank) via Lendr, FINTQ’s award-winning and pioneering digital lending platform.
By signing up and availing of the Mobile Crop Loan product via Lendr (www.lendr.com.ph), farmers will have a more convenient source of financing for crops and seed types, including palay (hybrid and inbred seeds), sugar (rattoon and sugar cane seeds), onion and corn, among others.
“This collaboration with Producers Bank shows the true importance of digital technology in leveling the playing field for everyone. Through Lendr, we are planting the seeds of innovation so farmers even in the most remote locations are given equal opportunities to grow their ventures and contribute to the thriving local economy,” said Manuel V. Pangilinan, Chairman of PLDT, Smart and Voyager Innovations. Lendr is a product of FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations.
“Consistent with our mission of helping grow the agriculture sector especially in the countryside, our partnership with Lendr will allow us to expand our reach to even more farmers nationwide, particularly through the Mobile Crop Loan product which will be helpful and convenient for farmers looking to finance their farm production,” added Andres Cornejo, Chairman and CEO of Producers Bank.
“The Bangko Sentral ng Pilipinas welcomes this development in starting the journey towards digitizing lending for the agriculture sector. This is well aligned with the government’s thrust of promoting responsive and responsible banking. Ultimately, technology will bring about inclusive growth and development. It likewise promotes speed, convenience, cost efficiencies and transparency benefiting customers even at the bottom of the pyramid,” said BSP Deputy Governor Nestor A. Espenilla, Jr.
Expanding digital lending reach
Lendr allows its users to look and apply for various loan products using only their mobile devices. Through this digital mobile lending platform, users can choose a loan product, fill up an application form, submit their requirements and get notified regarding the approval of their loan application all within their mobile device.
Lendr has been enabling banks and other financial institutions to offer their loan products online and on mobile devices thereby reaching more potential customers that are beyond the reach of the traditional banking system.
“This is the power of fintech, and we have harnessed such capabilities to help bridge the digital divide by delivering breakthrough products and awesome customer experiences to more Filipinos through our various digital banking, lending, insurance, and security platforms at FINTQ. By enabling banks with their digital transformation, we enable more people to take part and benefit from the growing digital economy,” said Lito Villanueva, Managing Director at FINTQ.
FINTQ’s various telco-agnostic digital lending platforms–which include Lendr, Mobile Loan Saver (with LANDBANK), and micro-lending Pera Agad (with Cash Credit)–have helped disburse more than P18 billion worth of loans since 2015 to over 120,000 borrowers, 70% of which are from outside Metro Manila.
Through its platforms, FINTQ currently has the most extensive digital lending footprint in the country today, with loan transactions coming from all 81 provinces, 90 percent of the 145 cities and eight percent of the 1,490 municipalities. Lendr, FINTQ’s pioneer product, has more than 30 banks and non-banks in various stages of onboarding. [END]
About FINTQ
FINTQ is the leader in customer-centric, demand-driven, mobile-first, value-creating, and inclusive digital financial innovations through collaboration across strategic markets with award-winning and pioneering platforms, products and services. It is the largest and the only financial technology business with diverse digital banking and finance portfolio of platforms including lending, security, micro-savings, insurance, disbursements, micro-credit and virtual banking, among others.
For more information about FINTQ and all of its products and services, please visit www.fintq.com.
About Producers Bank
Producers Bank is a rapidly expanding thrift bank with 144 branches nationwide, the vast majority of which are located in the countryside. Its mission is to become the #1 partner bank of entrepreneurs as well as farmers in producing more wealth for the country. It has supported farmers since its inception more than 21 years ago and plans to increase its reach by expanding to 300 branches by 2020.
[23 MARCH 2017] FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, emerged as the leading financial technology (FinTech) provider with its various digital lending platforms benefiting not only its partner banks and non-banks but thousands of Filipinos nationwide as well.
“We are glad that FINTQ’s various platforms have already taken root and are helping in our financial inclusion drive at Voyager. These platforms will pave the way toward empowering more Filipinos, especially those in the countryside, with the help of digital technology,” said Orlando B. Vea, President and CEO at Voyager Innovations.
“Aside from delivering an awesome customer experience, FINTQ’s strategic play focuses on enabling digital transformation of its partners in the banking, financial services and insurance sector. As the first player in the industry with existing strategic collaboration with top banks and non banks in the country, we have seen quick adoption by the customers further empowering them with easy, convenient and accessible access to finance. We have bridged the digital divide in retail lending via branchless banking,” added Lito Villanueva, Managing Director at FINTQ.
FINTQ’s various telco-agnostic digital lending platforms–which include Lendr, Mobile Loan Saver (with LANDBANK), and micro-lending Pera Agad (with Cash Credit) – helped disburse over P17 billion in total loans since 2015 to more than 110,000 borrowers, 70% of which reside outside Metro Manila.
With its platforms, FINTQ has the most extensive digital lending footprint in the country today, with loan transactions coming from all 81 provinces, 90 percent of the 145 cities and eight percent of the 1,490 municipalities.
These platforms have extended the reach of partner financial institutions, leveraging on mobile devices as the pervasive customer touchpoint. Almost 50 percent of borrowers lodged their loan applications outside office hours.
To date, FINTQ has signed up some of the country’s biggest banks for its various platforms, including the likes of Land Bank of the Philippines, China Bank Savings, Union Bank of the Philippines, Maybank Philippines, PNB Savings Bank, RCBC Savings Bank, Camalig Bank, First Circle, Cebuana Lhuillier Rural Bank, Philippine Business Bank, and Producers Bank, among others.
“We thank Camalig Bank for bringing Lendr to us. We don’t need to travel 57 kilometers every time we apply for a loan. This is user friendly and can be accessed anytime, anywhere. Now, even us living in remote areas in the country could enjoy this program,” said Noel Buendia, senior administrative assistant of Viga Rural Development High School situated in the fourth-class municipality of Viga in Catanduanes.
Globally recognized
Capping off these milestones, FINTQ recently bagged the “Fintech of the Year” award for 2016 by The Asset Triple A Digital Awards in Hong Kong, where it bested other financial technology providers in developed markets such as China, Japan, and Singapore.
Lendr and Pera Agad, on the other hand was also recognized by The Asset for being the “Most Innovative Cloud Project” and the “Most Innovative Data Analytics Project” distinctions, respectively.
Meanwhile, Mobile Loan Saver in partnership with the Land Bank of the Philippines, was also recently recognized with an Excellence in Fintech Lending award at the Lafferty Global Awards in South Africa.
“We are truly honored to be given these recognitions as one of the best in fintech both in the Philippines and the region. We are committed to develop more innovations that help enable financial institutions and empower more Filipinos through relevant services that are easily within their reach,” Villanueva said.
To date, FINTQ’s various platforms have received over 30 global and local awards in less than three years since inception.
FINTQ is the leader in customer-centric, demand-driven, mobile-first, value-creating, and inclusive digital financial innovations through collaboration across strategic markets with award-winning and pioneering platforms, products and services. It is the largest and the only financial technology business with diverse digital banking and finance portfolio of platforms including lending, security, micro-savings, insurance, disbursements, micro-credit and virtual banking, among others.
For more information about FINTQ and all of its products and services, please visit www.fintq.com.
[20 MARCH 2017] Amidst all the advancements in financial innovations, trust must still be at the center of any digital transformation efforts of banks and financial institutions, according to Lito Villanueva (leftmost), Managing Director of FINTQ, the financial technology arm of PLDT’s Voyager Innovations, during the recent Asian Financial Services Congress organized by IDC Financial Insights at the Marina Bay Sands Singapore.
“Against the wave of digital tsunami, every organization, financial or non-financial institution, needs to quickly pivot by shifting to lifestyle-driven initiatives from the proverbial transaction-based services,” Villanueva said.
Trust will be the basis for how stakeholders engage with regulators, partners, vendors, and especially to customers. Trust will be increasingly evident in how players in the industry build business through “co-opetition” and shared economies, how they support APIs and open-banking concepts, and how they fast-track integration of external innovators.
Villanueva defined TRUST as an acronym that represents Transparency, Relationship, Universality, Security and Transformational.
The two-day forum which drew over a thousand executives from the banking, financial services and insurance (BFSI) industry in over 10 countries focused on how the financial industry has gone through tremendous digital transformation in recent years. These changes include the surge of cognitive and artificial intelligence (AI), announcements of new digital-mobile payment initiatives and the growing acceptance of financial technology or FinTech, among others.
Among the panelists include Annie Ong, Regional Sales Director of Salesforce (rightmost), and Martin Read, Lead Partner in SE Asia of Deloitte Digital (middle). It was moderated by Michael Araneta, Associate Vice President, IDC Financial Insights.
Loans are now just a tap away. Teachers from several schools in Catanduanes in Bicol experience how to apply for a loan via Internet-connected mobile devices through Lendr, the digital lending platform of Voyager Innovations’ financial technology arm FINTQ, with the help of Camalig Bank, the largest rural bank in the Bicol region.
[20 MARCH 2017] The Camalig Bank, Inc. (A Rural Bank), together with FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, have started rolling out mobile-based loan applications to several towns in Catanduanes through the digital lending platform Lendr.
With the help of Lendr, qualified teachers in various schools in the towns of Viga, Panganiban, and Bagamanoc in Catanduanes were able to apply for loans using Internet-connected mobile devices, and get notifications for their application all within the same day. Several other schools in the region are also expected to be part of the program in the coming months.
“We’re happy to partner with Camalig Bank in this effort of empowering teachers and other residents in low-income cities and municipalities in the Bicol region through mobile-based digital lending via Lendr. Through a fast and convenient application system, many are now gaining access to formal finance which will help them participate in this rapidly growing digital economy,” said Lito Villanueva, Managing Director at FINTQ.
No need to file leave
Typically, teachers would have to take a leave from school work just to be able to apply for a loan at bank branches located in Virac, Catanduanes.
The trip usually takes them at least two hours one way, with most traveling as much as 57 kilometers just to reach the town proper whenever they need a loan.
But through Lendr, teachers and school staff from the Department of Education and instructors and non-teaching personnel from state colleges and universities can now easily apply for a salary loan from Camalig Bank using only their mobile phones.
“The digital age has ushered so much convenience for all. Part of our transformation efforts at Camalig Bank is to bring such benefits to our clientele in the Bicol region, and to be able to serve more clients, even those in far-flung municipalities that are traditionally out of our reach,” said Miel Moralada, President of Camalig Bank.
Camalig Bank is the largest rural bank in the Bicol region, with presence in the provinces of Albay, Camarines Sur, Camarines Norte, Masbate, and Sorsogon, aside from Catanduanes.
Toward greater financial inclusion
The partnership between FINTQ and Camalig Bank through Lendr forms part of the support for the Bangko Sentral ng Pilipinas’ (BSP) National Strategy for Financial Inclusion, which aims to establish programs and system that ensure access to financial products and services for the traditionally unbanked and underserved communities in the country.
At the heart of these financial inclusion efforts are mobile and digital systems like Lendr, which enable banks and financial institutions to serve traditionally untapped markets even without establishing brick-and-mortar branches in these areas.
“BSP welcomes this development in starting the journey towards digitizing rural bank lending. This is well aligned with the government’s thrust of promoting responsive and responsible banking. Ultimately, technology will not just level the playing field, but also will bring speed, convenience, cost efficiencies and transparency benefitting customers,” said BSP Deputy Governor Nestor A. Espenilla, Jr.
“Mobile brings anytime, anywhere access to financial products and services for everyone. In this era of digital, banks must respond to the changing consumer landscape, so that they may be able to service more Filipinos that are still not within the reach of the banking and financial ecosystem. We are glad to be partnering with local banks with the guidance of BSP to realize that vision,” Villanueva explained.
In 2016, FINTQ’s various digital lending platforms–which include Lendr, LANDBANK Mobile Loan Saver, and micro-lending Pera Agad–have disbursed over P10 billion in loans to more than 110,000 borrowers, 70% of whom reside outside Metro Manila.
Loans are now just a tap away. Teachers from several schools in Catanduanes in Bicol experience how to apply for a loan via Internet-connected mobile devices through Lendr, the digital lending platform of Voyager Innovations’ financial technology arm FINTQ, with the help of Camalig Bank, the largest rural bank in the Bicol region.
Loans are now just a tap away. Teachers from several schools in Catanduanes in Bicol experience how to apply for a loan via Internet-connected mobile devices through Lendr, the digital lending platform of Voyager Innovations’ financial technology arm FINTQ, with the help of Camalig Bank, the largest rural bank in the Bicol region.
[27 FEBRUARY 2017] Believing that financial inclusion is the key to empowering communities, FINTQ Managing Director Lito Villanueva is revolutionizing the region’s fintech industry through digital innovations that enable financial institutions and empower Filipinos from all walks of life. Watch the three-part interview of Bloomberg TV Philippines’ Thought Leaders show below.
FINTQ Managing Director Lito Villanueva underscores how cybersecurity is every Filipino’s concern, not just of the government or the banking industry, during the recently concluded Cyber Security Summit which gathered key stakeholders in the public, banking, and technology sectors to discuss how banks and financial service institutions can fortify themselves against rising global cyber attacks that threaten financial data.
[17 FEBRUARY 2017] The Philippines must create a “cybersecurity ecosystem” with involvement from the public and private sectors in order to more effectively combat rising cybercrimes that target banks and other financial institutions, executives from the country’s central bank, the banking industry, and technology providers remarked recently. During the recent Cyber Security Summit organized by PLDT Enterprise, ePLDT, and Voyager Innovations’ financial technology arm FINTQ, stakeholders in the banking and financial services industry agreed that protecting consumers’ welfare amid growing threats is a shared responsibility among all industry players. “Cybersecurity is a shared responsibility where each of us has a role to play in making the cyber environment safer, more secure, and more resilient,” said Chuchi Fonacier, Assistant Governor of the Bangko Sentral ng Pilipinas. “This becomes even more important as we enter a new era where technology innovations are deeply entrenched in business models, infrastructure, and delivery channels.” The Philippines is especially vulnerable to the onslaught of heinous cybercrime, as the growth of the financial sector has coincided with the ever-growing base of internet users. Local banks altogether hold P10 trillion in deposits and P7 trillion in loans. More Filipinos are now online too, with about 47 million active internet users. ‘Perfect storm’
This creates a perfect storm where transactions are increasingly being done electronically for speed in order to cater the needs of digitally savvy customers who expect on-demand, real-time, and customizable financial services, 24/7. “The threat is here, the threat is real, and the time to act is now. Banks and other financial institutions are naturally among the priority targets to these rising cyber attacks, since they are the gatekeepers of financial data, which most cyber criminals are after,” said First Vice President and Head of PLDT and Smart Enterprise Groups, Jovy Hernandez. “This is also not just a local or Philippine concern, given the latest incidents which uncovered the fact that organized transnational groups are behind some of the most nefarious cyber attacks in recent history.
Based on Verizon data, Hernandez noted that 88% of financial data breaches are distributed denial of services (DDoS), crimeware, and web app attacks. The sector has one of the expensive data breach costs, he said, estimated at $221 per person worldwide, citing a 2016 Ponemon Institute study. Aside from fortifying their IT systems, financial institutions can empower their customers to protect their accounts, especially those that can be accessed online. One of the latest fintech solutions is LockByMobile, a service developed by FINTQ that can instantly lock and unlock consumer accounts such as credit, debit, and prepaid cards using their mobile phones.
“Cyber security is not just a concern of businesses or even government. But it is a concern of every Filipino because what is at stake is the personal profile of our individual self,” explained Lito Villanueva, Managing Director at FINTQ. “With more and more device touchpoints available to consumers, companies are left vulnerable with more attack entry points than ever before. Guarding against these threats should be among their top priorities today.”
Government measures For their part, regulators are making a proactive stance against these imminent threats. The BSP, for instance, is currently working on policy initiatives such as cyber risk management framework, stronger customer identification techniques, sound business continuity plans, and social media risk management.
The SEC requires regulated entities to establish Control Procedures, Internet Risk Manual and Control, Business Continuity and Disaster Recovery Plan, and Comprehensive IT Plan. Companies and securities are also required to conduct regular audit at least one every three years. “There’s a need for enhanced collaboration and information sharing among public and private stakeholders when it comes to implementing proven methods,” Teresita Herbosa, chairperson of the Securities and Exchange Commission, told a jam-packed crowd. Financial institutions thus face a great challenge of protecting their big cache of data records while allowing an infinite number of endpoints to exist in order to deliver better, faster services.
Following a cyber attack, banks usually keep it to themselves, worried about bank runs and encountering problems with state regulators. With organized crimes bringing down the global financial system, as what the Bangladesh bank heist has shown, the whole sector needs to work tighter together. “Today, cybersecurity is the realm of the ecosystem that is designed to be secure,” said Jaime Garchitorena, President and CEO of the Credit Information Corporation. “We have to be able to reach that point where at any given time, each of us properly knows what each of us is doing in terms of security, without necessarily breaching our own concept of security.”
“We are forced by the need of technology and insane drive for convenience that it should be accessible everywhere, anywhere, at anytime,” he added. [END]
Maybank collaborates with FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations. Present during the signing of the agreement were Lito Villanueva, Managing Director of FINTQ; Orlando B. Vea, President and CEO of Voyager Innovations; PLDT, Smart and Voyager Innovations Chairman Manuel V. Pangilinan; Hazli Bin Abu Samah, Officer-in-Charge of Maybank Philippines; Richard Lim, former Executive Vice President and Head of Retail Business Group; and Bernie Talimban, Vice President and IT Group Head.
[23 JANUARY 2017] Maybank Philippines, Inc. has partnered with FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations to offer the bank’s clients with convenient, transparent, fast and secure digital loan service via digital loans platform Lendr.
Lendr is a the world’s first fully digital, multi-channel, telco and bank agnostic solution that financial institutions and credit providers can use to reach consumers planning to avail of loans. Maybank Philippines joins a growing roster of banks that has partnered with FINTQ and will be among the first ten to be deployed.
“We’re excited to have Maybank Philippines join Lendr as we make digital financial services such as loans more accessible to Filipinos. Digital is transforming industries and we are happy to enable our partner banks to serve their customers better,” said Orlando B. Vea, President and CEO of Voyager Innovations.
“As part of the Maybank Group, the 4th largest bank in Southeast Asia, Maybank Philippines, Inc. (MPI) continues to engage with partners to further enhance our product offerings to our customers,” said Hazli Abu Samah, Officer-In-Charge of MPI. “The stronger delivery of our services through online enhances our thrust of humanizing financial services,” Hazli added.
“Digital is making financial services more accessible and inclusive. In less than two years, our digital lending platforms, including Lendr, have yielded exponential growth, translating to services reaching previously underserved Filipinos. We are delighted to have Maybank Philippines, the country’s pioneer in 24/7 physical branch banking, as our collaborator for their 24/7 digital version,” said Lito Villanueva, Managing Director of FINTQ.
For end-2016, FINTQ’s lending platforms posted loans outstanding growth of over a hundred percent in excess of P15 billion while loans booked increased by almost a hundred percent to more than 100,000.
With its platforms, FINTQ has the most extensive digital lending footprint in the country today, with loan transactions coming from all 81 provinces, 90 percent of the 145 cities and eight percent of the 1,490 municipalities.
Using the Lendr platform, any consumer can apply any time whenever they need money for emergencies, minor house repairs or school tuition via SMS, mobile app or online with any device or telco provider. Consumers are in full control as they can keep track of their loan application status, loan repayments and amortization schedule. For more information, please visit www.lendr.com.ph.
A toast to greater digital collaboration led by BSP Deputy Governor Nestor A Espenilla Jr., Securities and Exchange Commission Chairman Tess Herbosa, Credit Information Corp President and CEO Jaime Garchitorena, Voyager Innovations President Orlando B. Vea, and FINTQ Managing Director Lito Villanueva.
[11 JANUARY 2017] Movers and shakers in the banking, finance, insurance, and technology space converged recently at the 1st Annual FINTQ Appreciation Night at Conrad Manila to welcome 2017 with renewed commitments to intensify collaborations to push for financial inclusion using digital technologies.
Organized by FINTQ, the fintech arm of PLDT and Smart’s Voyager Innovations, the event highlighted achievements and scale-up plans to promote better access to financial services through digital solutions and platforms specifically in the areas of digital lending, digital micro insurance, digital disbursements, and anti-fraud and card security, among others.
The event also served as FINTQ’s tribute to the invaluable contributions of its collaborators which include the Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC), Insurance Commission, Credit Information Corporation (CIC), Land Bank of the Philippines, PNB Savings Bank, China Bank Savings, Visa, First Circle, Unionbank, Rural Bankers Association of the Philippines, Chamber of Thrift Banks, RCBC Savings Bank, Producers Bank, Rural Bank of Camalig, Cebuana Lhuillier Bank, Malayan Insurance, Sun Life Financial, Citi, Cash Credit, RiteMed and the Department of Education.
“It is time to start our people and our financial institutions on their digital journey. And we, at PLDT, as part of the country’s leading institutions, are partners in bringing the best of this era to all of them. Some of those include convenience, efficiency, empowerment, and inclusiveness through mobile technology and the payment systems that we’re enabling as well,” said Manuel V. Pangilinan, Chairman at PLDT, Smart, and Voyager.
“2016 saw the start of what we call ‘finbiosis’, the coming together of fintechs and financial institutions for collaboration. This year, we see stronger commitments and broader scale in our efforts to make digital truly work for financial inclusion. We thank our partners, our collaborators, our clients and our customers and we’re beyond excited to make a big difference,” said Lito Villanueva, managing director of FINTQ, Voyager Innovations.
For end-2016, FINTQ’s lending platforms alone posted loans outstanding growth of over a hundred percent in excess of P15 billion while loans booked increased by almost a hundred percent to more than 100,000.
With its platforms, FINTQ has the most extensive digital lending footprint in the country today, with loan transactions coming from all 81 provinces, 90 percent of the 145 cities and eight percent of the 1,490 municipalities.
Among the solutions and platforms that it offers, include:
Lendr is the country’s first multi-channel, mobile device, bank and telco agnostic consumer loans marketplace, a one-stop-loan shop for personal, auto, salary and home loans. Lendr is also being utilized by banks as their platform for their own customers.
Mobile Loan Saver is the country’s fully paperless and electronic salary loan that provides Landbank customers with an alternative source of financing that they can apply for simply by sending a text message using their mobile phones.
Rove enables government and humanitarian aid agencies with electronic disbursements of cash grants to beneficiaries, with automated monitoring and evaluation components for transparency, speed and efficiency.
Pera Agad, a micro-lending service offered by Cash Credit, that utilizes big data algorithm.
LockByMobileis the world’s first anti-fraud and card control solution which allows customers to lock/unlock their credit, debit and prepaid cards in real-time with a simple swipe of their finger on their mobile phone.
To date, FINTQ platforms have received over 30 global and local awards in less than three years, the most recent one for Lendr being recognized for Excellence in Lending by the Lafferty Global Awards 2016.
“Last year was tremendous for ‘fintech’–both fintech as an emerging force in the financial services industry, and FINTQ as the financial technology arm of Voyager Innovations. We look forward to the year ahead with renewed vigor in further bringing these inclusive technologies to benefit even more people,” said Orlando B. Vea, President and CEO of Voyager Innovations.
“The National Retail Payments System envisions to bring the share of electronic transactions to 20% by 2020, from just 1% to 2% today. It’s a big journey that we are embarking upon, and it is impossible to reach that goal without the kind of partnerships that we’re beginning to see with companies like FINTQ and others like them who bring innovation into the Philippine financial system,” added Nestor Espenilla, Jr., Deputy Governor at the Bangko Sentral ng Pilipinas. “We hope to continue to bring that forward to foster more innovation into our financial system so that the benefits of digital finance can be experienced by all of us.”
Voyager Innovations is the digital innovations arm of PLDT and Smart Communications. Aside from fintech, it focuses on emerging market platforms in the areas of digital financial services, digital commerce, sponsored data access and digital marketing technologies. For more information about FINTQ, visitwww.fintq.com. For more information about Voyager Innovations, visitwww.voyagerinnovation.com.
GSIS Chairman Willy Maldia (5th from left) with Gui Danielou, FINTQ Head for Digital Security, PLDT Alpha Relationship Manager Lucy Sy, FINTQ Head for Digital Lending Tin Santiago, LANDBANK FVP and Corporate Affairs Head Peewee Villanueva, FINTQ Managing Director Lito Villanueva, and FINTQ Head for International Business Development Kunal Pandey.
LANDBANK FVP and Corporate Affairs Head Peewee Villanueva, China Bank Savings President and CEO Joey Ramos, LANDBANK President and CEO Alex Buenaventura, FINTQ Managing Director Lito Villanueva, Producers Bank Director Gilda Pico, RCBC Savings Bank President and CEO Mel Latinazo, and LANDBANK AVP Boy de Guzman.
FINTQ Business Group
FINEX Foundation Executive Director Vic dela Dingco, PNB Chairman Flor Tarriela, Citi SVP Desi Mendoza and FINTQ Managing Director Lito Villanueva.
LANDBANK President and CEO Alex Buenaventura, PNB Director Doy Casuela, Producers Bank Director Gilda Pico, and First Metro Investments Corp President and CEO Bong Arjonillo
China Bank Savings FVP Adonis Yap, USAID ePESO Chief of Party Mert Tangonan, BSP Deputy Director Raymond Estioko, and Philippine Clearing House Corp Noel Barcena
Eastwest Bank VP & Head of CLC Alternative Channels Tua Castaneda, Chamber of Thrift Banks Executive Director Suzanne Felix, USAID Philippines Microfinance Specialist Tess Espenilla, Eastwest Bank EVP and Consumer Lending Head Jacqueline Fernandez, and RCBC Savings Central Sales Support Head Sarah Perpena
Malayan COO Paolo Abaya, FINTQ Managing Director Lito Villanueva, Malayan President and CEO Yvonne Yuchengco, Voyager President and CEO Doy Vea, Shinhan Card Hyung Mo Yang
Awarding
with LANDBANK President and CEO Alex Buenaventura
with China Bank Savings President and CEO Joey Ramos
with RCBC Savings Bank President and CEO Mel Latinazo
with PNB Chairman Flor Tarriela and PNB Savings Bank President and CEO Joven Hernandez
with Malayan Insurance President and CEO Yvonne Yuchengco
with First Circle President and CEO Patrick Lynch
with Visa Country Manager Stu Tomlinson
with Chamber of Thrift Bank Immediate Past President Mel Latinazo and Executive Director Suzanne Felix
with RBAP Director Miel Moraleda
with Sun Life SVP Mike Manuel
with Camalig Bank President and CEO Miel Moraleda
with Citi SVP Desi Mendoza
with Cash Credit Chief Commercial Officer Diana Krumova
with UnionBank SVP Arvie de Vera
with Unilab SVP Joey Ochave and RiteMed General Manager Vincent Guerrero
with Producers Bank Chairman Andy Cornejo
with Cebuana Lhuillier Bank Manager Marga Lee
with BSP DG Espenilla
with SEC Chairman Teresita Herbosa
with CIC President and CEO Jaime Garchitorena
with former LANDBANK President and CEO and Producers Bank Director Gilda Pico
Speech of BSP Deputy Governor Espenilla
Speech of FINTQ Managing Director Lito Villanueva
Speech of Voyager Innovations President and CEO Orlando B. Vea
[04 JANUARY 2017] FINTQ, the financial technology arm of Voyager Innovations, Inc., was recently named the sole winner of the Excellence in Fintech Lending category from the London-based Lafferty Global Awards for its pioneering Mobile Loan Saver digital digital lending platform in partnership with the Land Bank of the Philippines (LANDBANK).
The LANDBANK Mobile Loan Saver (LMLS) service was hailed as one of the breakthrough innovations in financial technology that “puts the mobile device at the heart of its offering.” It joins the likes of Sterling Bank of Nigeria, Barclays Africa, UAE bank ADIB, Mexican bank Banorte South Africa’s FNB, and Diamond Bank of Nigeria in what the Lafferty Global Awards deemed as a “diverse range” of leaders in global financial services.
“This recognition cements the Philippines’ position, not just as a leader in mobile as it has been known for many years, but as an emerging powerhouse for financial technology solutions as well. Standing on the successes of our award-winning digital lending platform, we at Voyager and FINTQ are determined to bring more ‘fintech’ innovations not only to Filipinos, but in other emerging markets as well in collaboration with our strategic local and global partners” said FINTQ Managing Director Lito Villanueva.
“One thing that struck the judges is that almost no area of banking is untouched by mobile technology,” added Lafferty COO Rónán Lynch. “It’s clear to us that banks and payments businesses are spending a lot of their innovation budgets on mobile — and there’s probably a lot more innovation to come in the area of mobile banking, mobile payments and mobile technology. That applies whether we’re talking about wealthy parts of the world or poor parts of the world.”
Revolutionizing lending
LMLS has revolutionized the way borrowers, who were mostly government employees, apply for salary loans using their mobile phones. With a simple text message, borrowers are able to apply and secure approval notifications for their loan applications.
Due to its ease and convenience, LMLS has yielded over a hundred percent growth in outstanding loans in excess of P15 billion year-on-year, while loans booked increased by almost a hundred percent to more than 100,000, since its launch two years ago.
The groundbreaking service is already being used by a large number of borrowers from across the country, with transactions coming from all 81 provinces, 90 percent of the 145 cities and eight percent of the 1,490 municipalities. True to its financial inclusion mandate, LMLS has enabled borrowers from far-flung areas, with more than 20 percent coming from low-income cities and municipalities.
“Over 45% of the borrowers filed their electronic loan application outside banking hours, probably making it the country’s best practice model on branchless banking while further promoting greater access to finance,” added Villanueva.
The digital lending service will soon be expanded to other segments such as overseas Filipinos, small farmers in the agriculture sector, healthcare via medicine loans and the informal segments. This includes other consumer loan products namely: auto, motorcycle, housing, credit cards, pension aside from the existing mSME, personal and salary loans.
Over the past three decades, Lafferty Group has worked to identify, share and reward long-term, sustainable excellence in financial services. These awards celebrate outstanding work particularly where institutions have found innovative or creative ways to better provide a delightful customer experience.
For more information on LMLS and other FINTQ offerings, visit www.fintq.com. [END]
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[04 JANUARY 2017] FINTQ, the financial technology arm of Voyager Innovations, Inc., was recently named the sole winner of the Excellence in Fintech Lending category from the London-based Lafferty Global Awards for its pioneering Mobile Loan Saver digital digital lending platform in partnership with the Land Bank of the Philippines (LANDBANK).