3 Digital lending apps helping Filipinos with their urgent cash needs

By Leandra Monteiro

In the last few years, lending money has gone up, especially for those who have taken quite a hit during the pandemic. In the Philippines, the demand for personal loans has surged, however not all people meet the loan requirements. In fact, the number of people not meeting the bank loan requirements has increased since the pandemic.

Because of this, people seek online loan apps in the Philippines to fund their urgent cash needs. Here are 3 such apps helping Filipinos:

• Cashalo

Cashalo through its mobile app provides millions of underserved and underbanked Filipinos with access to fast, transparent, and secure access to credit. This empowers more Filipinos to build financial identities, improve their financial health, and realise their potential by enabling them to participate in the formal economy.

Cashalo’s technology and services unlocks unprecedented economic value by enabling access to a vast untapped consumer base and is said to have an immediate impact on conversion rates and sales by over 20%. Cashalo is investing heavily to build and scale grassroots financial literacy programs across the country in line with its vision to be the engine driving financial inclusion for the Philippines.

• Easycash PH

Easycash is a technology-driven financial services company that provides credit to deserving individuals and small businesses. Its technology and scalable infrastructure enable the company to design and customise lending and borrowing products and services, based on industry-specific data and insights, all supported by online risk management and operational tools.

• Home Credit Philippines

As a global tech-driven consumer finance company, Home Credit understands how technology can impact people’s lives. In all nine countries, it is present in, from Czech Republic and Kazakhstan all the way to the Philippines, it uses technology to change how people buy and afford the things they need.

The company aims to provide financial tools even to first-time borrowers, at a high speed. Its core business is non-cash, no-collateral in-store financing to qualified mass-market consumers seeking to purchase appliances and other gadgets. It also offers cash loans to customers via its Home Credit PH app.

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