FINTQ’s Lendr named Consumer Finance Product of the Year by The Asian Banker

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At The Asian Banker awards rites on Oct. 6 are (L-R): Neeti Aggarwal, senior manager for research at The Asian Banker; Guillaume Danielou of FINTQ; Richard Hartung, The Asian Banker international advisor; FINTQ managing director Lito Villanueva; Agustin Santiago of FINTQ; and Foo Boo Ping, The Asian Banker managing editor. HANDOUT PHOTO

MANILA – FINTQ’s digital lending platform Lendr bagged the Consumer Finance Product of the Year at the recent Asian Banker Philippine Country Awards at Fairmont Hotel.

Lendr, the first non-bank product to win the award, was cited for being a trailblazer in digital lending service in the country with the most extensive reach in the countryside. It showcased how it has become a pervasive and useful platform for financial inclusion and inclusive growth.

Lito Villanueva said during the leadership dialogue that in emerging markets, financial technology (FinTech) firms are not disruptors but enablers of the financial industry, bringing banks closer to the unbanked and underserved consumers via their most powerful device, their mobile phones.

With a substantial lending uptake, Lendr has booked over 170,000 loans in partnership with 1,500 participating instututions, with total value of loans released since 2015 at an impressive P24 billion.

It continues to expand its digital platform, having thus far attained a 100 percent (82 out of 82) presence in provinces; and in cities, 91 percent (132 out of 145); and in municipalities, 23 percent (343 out of 1,490).