Atome Financial & HSBC partner to aid unbanked consumers in the Philippines
By Gloria Mathias
Atome Financial has announced its renewal of a $100 million debt facility with HSBC Singapore and its expansion in the Philippines market. This partnership aims to support new consumer financing products.
Atome Financial, a SEA-based consumer financing platform, provides consumers across the region flexible deferred payments, smart savings and rewarding shopping experiences through the Atome mobile app with digital consumer loans in Indonesia through the Kredit Pintar mobile app.
HSBC is the structuring bank, lender, facility agent and security agent in providing a flexible, scalable, and pan-regional financing solution to support Atome Financials’ business expansion.
Andy Tan, Head of Funding, Atome Financial said, “We’re excited to have the renewed support of HSBC, especially as it now includes the Philippines, a key strategic market for us in providing unbanked and underbanked consumers with easier, simpler, and more affordable access to digital-first consumer financing products.”
Harish S Venkatesan, Managing Director and Head of International Subsidiary Banking, HSBC Singapore noted, “It pleases us to see innovative companies like Atome Financial lead the charge in driving Southeast Asia’s new economy growth. We are glad to play a role in supporting their ambition and remain committed to tap on HSBC’s global network, strong regional presence as well as suite of banking capabilities to support their expansion in the region.”
Atome Financial is a fintech company with extensive experience in consumer finance and promoting financial inclusivity through artificial intelligence technology. It includes Atome, Southeast Asia’s digital consumer financing platform and Kredit Pintar, one of Indonesia’s digital lending platforms licensed, supervised and regulated by Indonesia’s Otoritas Jasa Keuangan (OJK).
The Hongkong and Shanghai Banking Corporation Limited is the founding member of the HSBC Group. HSBC serves customers worldwide from offices in 62 countries and territories. It is one of the largest banking and financial services organisations.
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