FINTQnologies, Corp. (FINTQ), the financial technology arm of Voyager Innovations, was recognized by the Bangko Sentral ng Pilipinas (BSP) as this year’s Outstanding Financial Inclusion Partner for its efforts to accelerate inclusive digital finance across millions of underserved and unbanked Filipinos in the country.
FINTQ is the first financial technology (FinTech) company to receive such recognition during BSP’s 25th foundation anniversary. The BSP Stakeholders’ Awards is already on its 15th year, giving recognition to institutional partners who have continuously supported the BSP’s statistical initiatives, information requirements, advocacy programs, as well as the effective delivery of its function.
Receiving the award are Voyager Innovations President and CEO Orlando Vea and FINTQ Managing Director Lito Villanueva. The award is handed to the institution that has supported the BSP in serving the unbanked and underbanked sectors of the country through its own innovations and programs.
FINTQ, together with various stakeholder partners, launched the KasamaKA program in September 2017 at the BSP Head Office. It is a grassroots-based, bottom-up and multi-sectoral initiative that aims to bridge the gap between the unbanked population and financial services through technology such as microsavings, microinsurance, microinvestments, and loans.
FINTQ is one of the pioneering FinTechs in the country, having introduced various digital platforms such as the award-winning digital lending platform Lendr, the country’s largest with the most extensive digital footprint covering all 81 provinces nationwide. To date, Lendr has now disbursed almost P35 billion since it was launched in 2015 with around 100 bank and non-bank partners.
Other prestigious institutions nominated for the award are multilateral agencies Asian Development Bank and the World Bank Group.
“We are truly honored to receive this award from the BSP. Through KasamaKA, we are committed to accelerate the financial inclusion journey to help shift majority of Filipinos from being unbanked to semi-banked to banked. We continue to help intensify the BSP’s efforts to bring more individuals in the financial mainstream through digital banking platforms that are bridging financial institutions to every Filipino through our ‘sachet’ or ‘tingi’ strategy,” said Lito Villanueva, FINTQ Managing Director and KasamaKA Founder and Lead Convenor.
“For the BSP to implement its strategic direction, there is a need to sustain a win-win dynamic synergy between the BSP and you, our partners. It is only when we collaborate and cooperate, together we can achieve a balance, sustainable, and inclusive growth in the Philippine economy,” said BSP Governor Nestor A. Espenilla Jr. in a speech delivered by BSP Deputy Governor Cyd Tuano-Amador during the event.
“Financial inclusion in the country can only be achieved if we all work together. We are proud to be a partner of the Bangko Sentral for this initiative. FINTQ, together with the rest of Voyager, continues our concerted effort to close the digital divide and strengthen financial inclusion in the country through our platforms,” said Orlando B. Vea, president and CEO of FINTQ and Voyager Innovations.
Together with FINTQ, Voyager’s digital payments arm PayMaya Philippines is pushing for financial inclusion and targets to enable 30 million Filipinos with digital financial services by 2020.