AFC joins global enterprises to offer inclusive digital lending in the Philippines

By Gloria Mathias

AND Financing Corporation (AFC), AND Global’s subsidiary and a FinTech company, has announced its alliance with Marubeni Corporation, a trading and investment business conglomerate, and Premium Group Co., Ltd., an integrated car service provider, to empower etomo, an inclusive digital lending platform.

The strategic alliance aims to strengthen the platform in the rapidly evolving consumer finance market in the Philippines. AND Global is a fintech company that has provided integrated FinTech solutions to promote financial inclusion across Southeast Asia. Headquartered in Singapore, most of the startup’s technology resources are based in Mongolia, owing to its alliance with global fintech experts and the country’s technological influence globally.

Marubeni and Premium Group have committed to this partnership with AFC, bringing new capital injections. The collaboration brings together AND Global’s advanced data analysis and fintech solutions, Marubeni’s broad business experience and networks in the Philippines, and Premium Group’s extensive expertise in consumer finance.

The alliance will see the launch of further capabilities for etomo in the Philippines and aims to enhance the service’s awareness in the country, expand its customer base through local partnerships, and further develop digital financial services.

AND Global’s role will be to provide advanced data analytics and fintech solutions to power etomo. The platform currently offers the etomo Term Loan and the plan is to launch the etomo Revolving Loan capability, offering greater flexibility in monthly amortization and schedule of payments. These collateral-free and competitive interest loans and credit are intended for salaried workers and their families to help address their financial needs, such as medical expenses, tuition fees, utility bills, and more.

Khos-Erdene Baatarkhuu, CEO of AND Global, said, “etomo’s vision as a company is to become an essential partner to Filipino society by providing innovative financial products and services. We are delighted with the strategic alliance with Marubeni Corporation and Premium Group, as our combined expertise will help us to continue to deliver high-quality and top-of-the-line financial services. We are fully committed to having a positive social and economic impact on the lives of the Filipino people. Furthermore, this endorsement by renowned companies proves that Mongolian technology knowledge is invaluable to the global business community.”