PNB Savings Bank offers digital loan facility for SSS pensioners

by | May 25, 2016 | Uncategorized

MANILA BULLETIN | Wednesday, May 18, 2016

Philippine National Bank (PNB) and PNB Savings Bank today announced the launching of the country’s first digital and mobile lending facility specifically targeted at pensioners of the government’s Social Security System (SSS) powered by a platform called Lendr, developed by PLDT and Smart’s digital innovations unit Voyager Innovations.

SSS Pensioners with accounts at PNB and PNB Savings Bank can utilize the new facility powered by Lendr to apply for loans anytime, anywhere, using only their mobile phones or laptop devices.

“It has always been our thrust to put our customers first, and enabling our pensioners to take out a loan through Lendr echoes our commitment to making things simple and hassle-free for them,” said Joven Hernandez, president and CEO of PNB Savings Bank.

“The benefits of digital platforms like Lendr are maximized by those who are often out of reach by traditional systems, and pensioners are among one of them. Because Lendr can be accessed by anyone at any time and wherever they may be, pensioner-clients of PNB and PNB Savings Bank no longer have to leave their homes in order to apply for a loan. All they need is an Internet connection,” added Orlando B. Vea, President and CEO at Voyager Innovations.

Hassle-free service
By making SSS pension loans available via mobile and online applications, PNB and PNB Savings Bank is making the process convenient and hassle-free for its pensioner-clientele, most of which may have difficulty reaching traditional bank networks.

“We have designed Lendr to be very user-friendly across various demographics and accessible from a wide range of devices, offering the convenience of quick and hassle-free loans applications to customers,” said Lito Villanueva, Managing Director for FinTech, Digital Inclusion, and Alliances at Voyager. “We are encouraged by efforts of banks like PNB and PNB Savings Bank that are taking these first steps in digitally-enabling their customers in order to serve them better.”

SSS Pensioners with accounts at PNB and PNB Savings Bank are encouraged to proceed to their branch of account and update their personal information in order to receive timely updates regarding the service.

Enabling digital transformation of banks
Lendr is expected to further enable banks with their digital transformation, allowing them to reach customers beyond the traditional brick-and-mortar banking establishments. Previously, the digital platform has made available auto loans from China Bank Savings to be availed by interested users online, with more bank partners to be onboarded soon.

Its launch comes at an opportune time as consumers across all life stages and income groups have become more digital-savvy. Moreover, consumer lending in the Philippines continues to grow, posting a 19.3% increase in the second quarter of 2015 to reach P959.18 billion worth of loans disbursed during the period.

For more information on Lendr and to sign up for an account today, simply visit www.lendr.com.ph, like Lendr on facebook.com/LendrPH, and follow @LendrPH on Twitter.

PLDT group enables 8 more partner banks with digital consumer loans platform Lendr

by | May 25, 2016 | Uncategorized

PLDT News | Friday, April 8, 2016

More banks and financial institutions recently signed up with digital lending platform Lendr to offer consumer loans via online and mobile, with the aim to significantly expand the reach of their financial products and provide convenient, hassle-free loans application to their customers.

Eight new partner banks – namely Bank of Makati, Cebuana Lhuillier Rural Bank,  Luzon Development Bank, Philippine Business Bank, Producers Bank, Rural Bank of Camalig, Sun Savings Bank, and UCPB Savings Bank – will soon have consumer loan products available on Lendr (www.lendr.com.ph) via online and mobile.

Lendr is one of the breakthrough products developed by FINTQ, the financial technology unit of Voyager Innovations, the digital innovations arm of PLDT and Smart Communications, Inc. (Smart).

For the Lendr partner banks, PLDT Alpha Enterprise and PLDT Smart SME Nation are offering the widest range of connectivity solutions that include fixed and wireless data access bundled with the latest devices and gadgets to help small businesses and enterprise clients harness technology to make their businesses relevant and stand out amid the competition.

“Digital technology affords businesses both big and small a level playing field, and that is most apparent in the case of our new financial partners, the rural and thrift banks. Lendr will help them vastly improve the scope of their consumer loans products by putting them directly into the hands of millions of mobile and online users nationwide,” said Manuel V. Pangilinan, Chairman at PLDT, Smart, and Voyager Innovations.

This officially brings the number of partners that have officially signed up with Lendr to 25 banks and financial institutions. Currently, loan products from China Bank Savings (auto loan) and PNB Savings Bank (SSS Pension Loan) are available via the platform.

“Today, every mobile phone in the country can be considered a virtual bank branch. With the help of Lendr, banks and financial institutions that used to operate in specific areas and regions can now reach out to the many who need financial help all around the country,” added Orlando B. Vea, President and CEO at Voyager Innovations.

Through Lendr, consumers availing of loans from partner banks can conveniently do the following on their mobile or laptop devices:

Complete the loan application process online: once they have chosen the loan products that they want, users can sign up and fill out the application forms via Lendr, eliminating the need to go to the bank to submit paper-based application forms;

Track their loan applications: Through the intuitive interface of Lendr accessible via the desktop and mobile site, users will be able to get instant updates and SMS notifications about their loan applications every step of the way; and

Monitor their monthly loan payments, balances, and amortizations: Once their loans have been fully approved and released, Lendr also allows users to keep track of their payments and balances, so that they do not miss out on their monthly dues.

As partners in the digital enablement of banks and financial institutions, FINTQ through Lendr aims to promote inclusive growth and financial inclusion in key emerging markets by leveraging on the latest mobile and digital technologies. Through a telco- and bank-agnostic digital lending platform, all consumers are able to look for and compare the loans that they need and apply through an easy and hassle-free system.

“In the emerging digital economy, businesses that are quick to adapt will be able to stay ahead of competition. We are encouraged that our partner banks and financial institutions have decided to take the first step in digital enablement by signing up with Lendr, and we are hopeful about a fruitful partnership that lies ahead,” said Lito Villanueva, Managing Director at FINTQ.

The commercial availability of Lendr is expected to help banks expand the availability of their loans portfolio as consumer lending in the Philippines continues to grow, posting a 19.3% increase in the second quarter of 2015 to reach P959.18 billion worth of loans disbursed during the period.

For more information on Lendr, visit www.lendr.com.ph or follow @LendrPH on Twitter or Like facebook.com/lendrph.

Voyager Innovations focuses on delivering platforms for the emerging digital economy. Among the areas of digital life that its platforms and services are enabling include financial technology, digital commerce, rich mobile marketing, digital payments and next-generation communications.

Signing of the Collaboration Agreement between CTB and Smart’s Voyager Innovations

by | Apr 9, 2016 | Uncategorized

Thursday, December 17, 2015

The Chamber of Thrift Banks (CTB) collaborates with PLDT and Smart unit Voyager Innovations for Lendr. PLDT/Smart Chairman Manuel V. Pangilinan shakes hand with CTB and RCBC Savings Bank President Rommel Latinazo.

With them are (from left) CTB Second Vice President and Malayan Savings Bank Second Vice-Chair/CEO George Martirez; Voyager Innovations President/CEO Orlando Vea; and Fintech, Digital Inclusion & Alliances Managing Director Lito Villanueva.

PH’s first 24/7 digital loans marketplace platform now online

by | Apr 9, 2016 | Uncategorized

Friday, April 8, 2016

China Bank Savings auto loans now available via digital lending marketplace Lendr

Planning to buy a car or a vehicle for your family? Consumers looking to get an automotive loan may now do so anytime, anywhere as Lendr, the country’s first 24/7 digital loans marketplace, goes live with China Bank Savings (www.cbs.com.ph) as inaugural partner. Lendr is the latest financial technology or “FinTech” platform from leading tech company Voyager Innovations.

Initially offering automotive loans from China Bank Savings (CBS) and soon, other consumer loans available through a wide network of partner banks and financial institutions, Lendr (ffintq.wpengine.com) is envisioned to provide consumers the ultimate convenience of applying for a loan and tracking their applications through the Lendr mobile and desktop site.

“Every consumer has the right to access financial services. With Lendr, we aim to be the leading organization in promoting digital financial inclusion in the Philippines and other emerging markets. Lendr is our flagship platform that allows bank partners to reach more customers, while it provides consumers easy, fast and secure access to funding anytime, anywhere, with the use of their mobile devices,” said Manuel V. Pangilinan, PLDT, chairman of Smart and Voyager Innovations.

“Our partnership with Voyager Innovations is another testament to China Bank Savings’ commitment to providing clients with convenient, responsive and customer-friendly service.  Lendr provides a more accessible channel for our clients to apply for a loan.  At the same time, it allows the bank to service loan applications faster, and give the prospective borrower updates on the status of his loan application. With Lendr, our clients can look forward to greater mobility in banking,” said Alberto Emilio V. Ramos, president of China Bank Savings.

“The National Retail Payments System envisions a robust and interoperable payment system that enables efficient and cost effective digital transactions.  Lendr is an initaitve that supports this vision by providing a platform for people to link with their financial providers and access financial services in a convenient manner regardless of time and location,”, said Nestor A. Espenilla Jr, deputy governor of the Bangko Sentral ng Pilipinas.

 

Fully digital loans application
Through Lendr, consumers availing of loans from China Bank Savings can now do the following:

  • Complete the loan application process online: once they have chosen the loan products that they want, users can sign up and fill out the application forms via Lendr, eliminating the need to go to the bank to submit paper-based application forms;
  • Track their loan applications: Through the intuitive interface of Lendr accessible via the desktop and mobile site, users will be able to get instant updates and SMS notifications about their loan applications every step of the way; and
  • Monitor their monthly loan payments, balances, and amortizations: Once their loans have been fully approved and released, Lendr also allows users to keep track of their payments and balances, so that they do not miss out on their monthly dues.

 

24/7 convenient access
China Bank Savings is the first bank to have its loan offerings made available on Lendr, but Voyager managing director for fintech, digital inclusion, and alliances Lito Villanueva said that other rural, thrift and universal banks including non-bank credit institutions will soon be onboard. Earlier, Voyager signed a collaboration agreement with the Rural Bankers Association of the Philippines (RBAP), and the Chamber of Thrift Banks (CBT) with 499 and 54 member-banks, respectively. This excludes a number of commercial and universal banks currently in the process of integration.

As more partner banks “go live” using the platform, the Lendr marketplace aims to give banks and consumers an always-available online and mobile platform solution that addresses their respective needs.

“We’re building an ecosystem of partner banks and financial institutions so it will be easy and convenient for consumers to make financial decisions regarding their loans requirements. Our goal is for Lendr to empower consumers with one-stop-loan-shop convenience complete relevant data and information that could help them decide which loans to apply for and which banks provide the best rates and product benefits,” explained Orlando B. Vea, president and CEO of Voyager Innovations. 

“Banks, on the other hand, will be able to save on costs and expand their clientele to reach individuals without investing heavily on brick-and-mortar branches. Over 100 million mobile subscribers could now become the bank’s customer touchpoints in accessing financial services. And since everything is online, customers can transact and apply for a loans loan even outside of banking hours using only their mobile devices. This is branchless banking in action.,” Villanueva added.

Once more loan products are available, Lendr will also enable consumers to compare loan products and interest rates of various banks and financial institutions as well as get the best pricing and terms in one go.

Digital transformation of banks
The commercial availability of Lendr is expected to further enable banks with their digital transformation, allowing them to reach customers beyond the traditional brick-and-mortar banking establishments.

 

Voyager Innovations launches Lendr to rural bank partners

by | Apr 7, 2016 | Uncategorized

PLDT News | Monday, May 16, 2016

Voyager Innovations, the digital innovations arm of PLDT and Smart, introduced Lendr, the country’s first online marketplace platform for consumer loans, to members of the Rural Bankers Association of the Philippines (RBAP) during the group’s 58th Charter Anniversary Symposium held at the Mariott Hotel, Pasay City.

Lendr is a 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. Through Lendr, consumers will be offered a convenient, transparent, fast and secure service through a marketplace that provides an all-in-one account and multiple loan options, delivered straight to the mobile device.

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.

In the event attended by more than 500 rural bank presidents and CEOs from across the country, PLDT, Smart and Voyager Innovations Chairman Manuel V. Pangilinan led the launching of the service and the signing of the partnership agreement with RBAP together with Voyager Innovations President and CEO Orlando B. Vea, Bangko Sentral ng Pilipinas (BSP) Deputy Governor Nestor Espenilla, Jr. and RBAP President Enrique Abellana.

Voyager Innovations is collaborating with RBAP and its individual member rural banks to further expand its reach and drive financial access in the countryside through Lendr. Aside from the partnership with RBAP, more than 50 individual rural banks already signed up to be part of Lendr.

“PLDT and Smart strongly believe in enabling broader financial access to Filipinos.  By bringing digital services to the countryside, we help our partners like RBAP extend their reach and enhance their efficiency,” said PLDT and Smart Chairman Manuel V. Pangilinan during his keynote speech.

“Leveraging on mobile technology is a great equalizer where small banks could compete with even large industry players; it simply levels the playing field,” Pangilinan added.

“The BSP welcomes digital financial innovations that are responsive to consumer needs while further promoting interoperability, which is one of the pillars of our soon-to-be rolled out National Retail Payments System,” said BSP Deputy Governor Espenilla.

“As the leader in digital financial innovation, we’re committed to helping the unbanked and underserved segment of the population so they can participate in the economic mainstream,” said Voyager President and CEO Orlando B. Vea.

In data published by the BSP for 2014, rural banks are seen as growing despite the smaller individual reach and scale.  Rural bank industry assets grew to P203.8 billion in 2014 from P188.4 billion in 2013. Total loan portfolio also expanded to P128.3 billion last year from P121.9 billion in the previous year. Total domestic deposits increased to P144.5 billion in 2014 from P135.6 billion in 2013.

“With this digital partnership, we are helping enable and optimize the reach of rural banks and at the same time, empower customers who want to avail of loans to make informed decisions as to the best offers and competitive interest rates by just checking out Lendr via their mobile phones or devices,” said Lito Villanueva, Vice President and Head of Fintech, Digital Inclusion, and Alliances at Voyager Innovations.

“Lendr removes the inconvenience of having to download multiple mobile banking apps or even visiting various bank websites just to look for any consumer loan product — it is a one-stop-loan shop,” Villanueva stressed.

PLDT Smart SME Nation, a long-time partner of RBAP, will also be collaborating with both RBAP and Voyager Innovations to help provide a wide range of technology and connectivity solutions for rural banks across the country.

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RBAP collaborates with Voyager for new loan app

by | Apr 5, 2016 | Uncategorized

Manila Times | Thu, Nov 26 2015 | Business | p S2-6 | by Manny V. Pangilinan

 

The Rural Bankers Association of the Philippines (RBAP) welcomed a strategic partnership with Voyager Innovations, a unit of telecommunications provider Philippine Long Distance Co. (PLDT) for a new mobile application called Lendr that will serve as an online consumer loans marketplace.

 

Digital and mobile innovations lead the way for tech-enabled consumer lending

by | Apr 5, 2016 | Uncategorized

PDI and Philstar | Tuesday, Jan 18, 2016 | Material #2

Innovations in digital and mobile technology are quickly changing the banking industry as customers are demanding “anytime, anywhere convenience” especially for the rapidly growing consumer loan market.

The Morgan Stanley Research Global study entitled “Global Marketplace Lending: Disruptive Innovation in Financials” published last May 2015 cited that “marketplace lending is in lift off” and the market could exceed US$490 billion by 2020.

In the Philippines, the Bangko Sentral ng Pilipinas (BSP) reported an almost 20 percent increase in consumer loans for the second quarter of 2015, reaching P959.2 billion as compared to the same period in 2014. This robust growth has been sustained since 2008.

“We see that this growth will be further propelled by the shift in digital behavior, with more customers accessing banking services using mobile and online channels,” said Lito Villanueva, Vice President and Head of Financial Innovations, Digital Inclusion and Alliances at Voyager Innovations.

Locally, banks and financial institutions are recognizing this need to ride the wave of financial technology or “fintech” innovations. Both the Rural Bankers Association of the Philippines (RBAP) and the Chamber of Thrift Banks (CTB) have signed Collaboration Agreement to promote Lendr across its member banks. RBAP and CTB respectively have 499 member-rural banks and 54 member-thrift banks.

Lendr is a fully digital, multi-channel, telco and bank agnostic platform that financial institutions and credit providers can use to reach consumers planning to avail themselves of loans through a single online “marketplace”, which marketplace is dubbed as the “uber” for consumer loans.  Lendr has currently been adopted by Asian United Bank, China Bank Savings,  Malayan Savings Bank, RCBC Savings Bank, and over 15 rural banks.

For financial institutions, Lendr is helping digitize and optimize the reach of banks. At the same time, the platform aims to empower customers who want to avail of consumer loans to make informed decisions regarding interest rates and other requirements just by checking out Lendr via their mobile phones. Any interested mobile subscriber will be able to register to have a unique Lendr account via SMS, mobile app or online.

For bank and financial institution partners under Lendr, PLDT Smart Alpha Enterprise and SME Nation, are offering the widest range of connectivity solutions that include fixed and wireless data access bundled with the latest devices and gadgets to help small businesses and enterprise clients harness technology to make their businesses relevant and stand out amid the competition.

“Fintech is a strong driver in enabling financial inclusion for the country and we are excited to be at the forefront of this arena together with our partners,” said PLDT, Smart and Voyager Innovations Chairman Manuel V. Pangilinan.

“There’s no way back in terms of where the market is going even for the banking and finance sector – it is now a mobile-first and digital arena. We’re collaborating with banks and other financial institutions because the best initiatives in the fintech space are brought on by combining our respective areas of expertise,” said Orlando B. Vea, president and CEO of Voyager Innovations.

“PLDT Smart Alpha Enterprise and SME Nation are committed in enabling the digital infrastructure so banks and financial institutions as well as their customers can fully maximize the benefits of this fintech innovation. Our connectivity solutions will allow them to more effectively respond to the market needs for Lendr,” said Eric R. Alberto, PLDT Executive Vice President and head of PLDT Smart Alpha Enterprise and SME Nation.

Lendr is expected to change the landscape for consumer loan lending not only in the Philippines but also in key growth and emerging markets through this marketplace approach.  “We expect more bank and financial institution partners to come on board for Lendr as we get ready to offer the service to consumers this year. Lendr is making consumer lending ‘always-on’ and ‘always-connected,” concluded Villanueva.