Eight new partner banks recently signed up with digital lending platform Lendr to offer consumer loans via online and mobile to expand the reach of their financial products and provide convenient, hassle-free loans application to their customers.
Lendr is developed by FINTQ, the financial technology unit of Voyager Innovations, the digital innovations arm of PLDT and Smart Communications. Lendr mobile technology platform enables and empowers Smart, Sun TalkNText, Globe, TM and other mobile network subscribers to have a one-stop loans shop showing all loan offers of all participating banks for faster, more convenient, dynamic, secure and engaging loan application experience.
The commercial availability of Lendr is expected to help banks expand the availability of their loans portfolio as consumer lending in the Philippines continues to grow, posting a 19.3% increase in the second quarter of 2015 to reach P959.18 billion worth of loans disbursed during the period.
Manuel V. Pangilinan, Chairman at PLDT, Smart, and Voyager Innovations
Digital technology affords businesses both big and small a level playing field, and that is most apparent in the case of our new financial partners, the rural and thrift banks. Lendr will help them vastly improve the scope of their consumer loans products by putting them directly into the hands of millions of mobile and online users nationwide.
Lito Villanueva, Managing Director at FINTQ
In the emerging digital economy, businesses that are quick to adapt will be able to stay ahead of competition. We are encouraged that our partner banks and financial institutions have decided to take the first step in digital enablement by signing up with Lendr, and we are hopeful about a fruitful partnership that lies ahead.
