AsiaKredit launches consumer lending app

Singapore-based AsiaKredit has launched an innovative, data-driven consumer lending platform delivered through a mobile application in the Philippines.

AsiaKredit aims to advance financial inclusion in the Philippines by improving both the availability of credit to those with limited or no banking history, as well as their approval rate through the “pera247” platform.

Mike Singh, co-founder and CEO of AsiaKredit, said the company is excited to take consumer lending fully digital in the Philippines as it expects a dynamic shift in consumer digital behavior to access financial services through mobile and online channels.

“Through pera247, AsiaKredit has a huge opportunity to impact the lives of hundreds of millions unbanked clients in Southeast Asia, leveraging the high mobile penetration in the region to foster financial inclusion,” he said.

Singh said the company has a diverse, international, experienced, and proven management team, and top-notch backers with solid track records in fintech and consumer finance.

“We look forward to establish ourselves as a strong player in the digital lending space across the exciting emerging markets of Asia,” he added.

The “pera247” is a digital lending solution that aims to provide unsecured smallticket, short-term consumer loans for up to 90 days to the country’s underbanked population with no existing credit or collateral history.

Designed to provide the shortest real-time credit decision by any platform on the market, the platform uses big data to optimize the credit assessment process to make fast and reliable credit decisions.