Financial Inclusion Gets a Boost in the Philippines
A significant partnership has been forged between Security Bank, a leading Filipino lender, and WeFund Lending, the operator of JuanHand, a popular fintech cash lending app. This collaboration aims to promote financial inclusion by providing accessible financial solutions to Filipinos.
Streamlined Loan Application Process
With this partnership, JuanHand app users can now apply for loans by submitting basic personal information and one valid ID. Leveraging Finvolution group’s proprietary AI technology, borrowers can expect loan approvals in under five minutes, without the need for collateral or proof of income.
A Shared Vision for Financial Inclusion
The signing event was attended by top executives from both parties, including Security Bank’s John Cary L. Ong and WeFund Lending’s Francisco “Coco” Mauricio. Ong expressed his gratitude for the opportunity to partner with JuanHand, citing their shared vision of providing financial assistance to Filipinos. Mauricio echoed this sentiment, highlighting Security Bank’s commitment to expanding financial inclusion for all underserved Filipinos.
JuanHand’s Impressive Track Record
Since its inception, JuanHand has disbursed over PHP 40bn in loans and boasts an impressive 12 million registered users. This partnership with Security Bank is expected to further accelerate financial inclusion in the Philippines.
A Commitment to Financial Empowerment
Security Bank has demonstrated its commitment to financial empowerment through its recent agreement to acquire a 25% stake in HC Consumer Finance Philippines, also known as Home Credit Philippines. This move, combined with its partnership with JuanHand, solidifies the bank’s position as a champion of financial inclusion in the Philippines.
Disclaimer
The information provided is for general informational purposes only and should not be considered as advice. It is essential to seek professional or specialist advice before taking any action based on the content.
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