FINTQ’s digital platform disburses P30 B in loans

FINTQnologies Corp., the financial technology arm of PLDT and Smart’s Voyager Innovations, has disbursed P30 billion worth of loans since its digital platform Lendr was launched in 2015.

Lendr has posted over 60 percent compounded annual growth rate in loans booked comprising of salary, personal, microfinance, micro, small and medium enterprises (MSMEs), and agricultural loans over the past three years.

Lito Villanueva, FINTQ managing director, said the encouraging results manifest Filipinos’ rapid digital adoption.

“This forms part of our metrics to leapfrog digital financial transactions to a minimum of 20 percent from the current one percent. Lendr surely provides the impetus to provide alternative and affordable access to finance even in hardto-reach areas in the country,” he said.

For the first quarter of the year alone, loan disbursements processed through Lendr recorded a double-digit growth in the first quarter.

“Customers want a fast and easy access to money, anytime they need it, wherever they are. At the same time, we provide platforms for financial institutions, allowing them to go beyond their brick and mortar branches and tap a bigger market at a lower cost,” he added.

FINTQ is engaging more than 100 bank and non-bank institutions.

In 2017, majority of Lendr’s borrowers comprised of the millennial market segment. In the first quarter of this year, this scenario remained as millennials are the ones who prefer digital platforms in terms of doing their financial transactions due to its convenience.

“Majority of those who have borrowed through Lendr are single, female, employed, and are the so-called millennials or those born from 1982 to 2004. Nearly a third of our borrowers work in the government sector and the customer service industry,” Villanueva said.