PNB Savings Bank offers digital loan facility for SSS pensioners
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.
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.