FINTQ expands digital partnerships to become biggest fintech firm in Philippines
FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations, on Thursday announced a string of new digital partnerships with banks and non-banking institutions for a variety of financial technology products and services, making it the biggest fintech firm operating in the Philippines today.
Among its newly signed partners for Lendr, its pioneering and award-winning digital lending platform, include the Development Bank of the Philippines, EastWest Bank, the Philippine Bank of Communications, Philippine Veterans Bank, Cebuana Lhuillier Bank, Insular Bank, Philippine Business Bank, Card Bank Inc., Card SME Bank Inc., Rizal Bank Inc., Radiowealth Finance Company, Asialink Finance Corporation, Filidian Rural Bank, JK Capital, Esquire Financing, Algo Leasing, FINEX, Dun & Bradstreet, Cash Credit, TransUnion, FinScore and PawnHero.
“Revolutionizing the banking and financial industry in the Philippines takes a strong collaboration effort among FinTechs, the traditional banks, and other industry players, and we are glad that our latest partners have come on board to further reach more Filipinos as we strive for true financial inclusion with the help of digital,” said Manuel V. Pangilinan, Chairman of PLDT, Smart and Voyager Innovations.
“We thank our partners for going on this voyage with us in pursuit of greater financial inclusion through FINTQ. Through the power of digital via mobile phones, we are helping bring financial products and services closer to Filipinos, literally at their fingertips,” added Orlando B. Vea, President and CEO at Voyager.
Across its digital lending platforms–which include Lendr, Mobile Loan Saver (with LANDBANK), and Pera Agad (with Cash Credit)–FINTQ has logged a total of over 135,000 loan applications worth a total of P21 billion since it launched in 2015. Close to 80 percent of these transactions were logged outside of Metro Manila and almost half were done beyond the usual banking hours, proving the financial inclusion effects of digital platforms.
Redefining the landscape
The year 2017 has so far been a banner year for FINTQ not just in the area of partnerships, but in developing and launching breakthrough digital products, platforms and programs as well.
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