FINTQ sees another banner year for lending growth

MANILA, Philippines — The financial technology arm of PLDT Inc. said 2018 would be a banner year as it expects to maintain the double-digit lending growth booked last year by increasing the number of partners.

Lito Villanueva, FINTQ managing director, said digital lending initiatives through Lendr would accelerate through the launch of several game-changing platforms.

“For 2018, we are confident that with the deployment of a number of our Lendr partners, we will keep our double-digit growth and could even double last year’s performance,” he said.

He pointed out other key digital platforms for various financial services would be introduced in the market come 2018.

“These will further galvanize our position in the industry as the leading fintech company with the largest digital footprint in the country. We will also be expanding our operations outside the Philippines,” he said.

FINTQ saw loan disbursements processed through Lendr balloon by nearly a third in 2017 with most of the borrowers coming from the “starting out” segment.

“Loans disbursed through Lendr last year reached more than P12 billion, nearly a third higher than the volume recorded in 2016, bringing our total loans disbursed to about P27 billion since we went to market in 2015,” Villanueva said.

FINTQ and Voyager Innovations are strongly committed to the Bangko Sentral ng Pilipinas (BSP) to promote the National Strategy for Financial Inclusion as it hopes to include 30 million Filipinos in the formal financial sector by 2020 through KasamaKA and Lendr that offers Pera Agad.

Lendr has the most expansive loan offerings. On top of the traditional salary, personal, home, and auto loan products, it offers mobile crop loan, medicine loan, SME loan, overseas Filipino loan, and truck and equipment loan, among others.