FINTQ addresses the gap in financial access for Filipinos without credit qualifications and those in the rural areas through its cloud-based lending platform Lendr, approved by the Bangko Sentral ng Pilipinas (BSP). Lendr also fosters collaboration among banks, financial technology companies and other key stakeholders in the industry
While there is a dearth in bank’s funding and financial options for small and medium enterprises globally, new players are intercepting with their digital capabilities to provide lending to the growing sector. Recognising this gap and the entrance of new competition, HDFC launched SM@ Bank to provide SMEs’ with innovative and accessible financial services.
Access to mobile banking in the Philippines remains exclusive and conventional despite a high mobile phone penetration rate. PayMaya is enjoying some success in penetrating the mobile banking space by reaching out to the "unbanked" segment, which makes up two-thirds of the population.