WIDER ACCESS TO CONSUMER LOANS. FINTQ, the financially technology arm of PLDT and Smart’s Voyager Innovations, is working together with the Philippine Bank of Communications (PBCOM) for faster and more convenient access to consumer loans with the help of digital technology. In photo are (from left) FINTQ Managing Director Lito Villanueva; Voyager President and CEO Orlando B. Vea; PLDT, Smart, Voyager, and FINTQ Chairman Manuel V. Pangilinan; PBCOM President and CEO Patricia May T. Siy; PBCOM Executive Vice President & Head for Retail Banking Jaime Valentin L. Araneta; and, PBCOM Consumer Finance Group Sales Head Ricardo R. Mendoza
[21 JULY 2017] Philippine Bank of Communications, Inc. (PBCOM) and FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, recently inked a partnership that will further boost PBCOM’s consumer lending business by expanding its offerings in the digital space through Lendr, the latter’s pioneering and award-winning digital lending platform.
Once launched, PBCOM’s home, auto, and personal loan products will immediately be available via Lendr (www.lendr.com.ph), an innovative digital lending platform that allows for easy and convenient loan application and submission of requirements via online or mobile devices.
“We’re glad to welcome PBCOM into the Lendr ecosystem, which will help empower more Filipinos through easy and convenient access to their loan products. This marks a huge milestone in our pursuit of greater financial inclusion across the country through the marriage of trailblazing digital technology from FINTQ and innovative loan products from our partner banks such as PBCOM,” said Manuel V. Pangilinan, Chairman at PLDT, Smart, Voyager and FINTQ.
“Over the past year, we have seen tremendous growth in various areas of our business, including consumer loan products. We intend to continue this growth momentum by tapping and exploring other avenues for our various offerings, including digital platforms such as Lendr,” added Patricia May T. Siy, President and CEO of PBCOM.
Loans on tap
By offering these products via a seamless, telco-agnostic digital platform like Lendr, PBCOM is extending the reach of its financial products and offering potential borrowers the convenience of applying for a loan, submitting their requirements, and getting notified about the status of their application all at the tap of their smartphones.
This move could help boost the growth of PBCOM’s various consumer loan offerings as industry-wide growth in loans for household consumption continues to increase, pegged at 23.6% as of March 2017, recent data from the Bangko Sentral ng Pilipinas suggests.
“Lendr not only plays a pivotal role in bringing financial products closer to Filipinos but also plays a key role in enabling our partner banks like PBCOM in their digital transformation. Through this partnership, we aim to serve and create more innovative and high-impact financial products that will be of tremendous value to a lot of customers nationwide,” 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 P21 billion worth of loans since 2015 to over 135,000 borrowers nationwide, close to 80% 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% of the 145 cities and 15% of the 1,490 municipalities. Lendr, FINTQ’s pioneer product, has already partnered with more than 30 banks and non-banks that are in various stages of onboarding.
To know more about FINTQ’s various financial technology offerings, visit www.fintiq.com. [END]