June 19, 2018, 12:29 am
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1 Philippine Peso = 0.06887 UAE Dirham
1 Philippine Peso = 2.01763 Albanian Lek
1 Philippine Peso = 0.03375 Neth Antilles Guilder
1 Philippine Peso = 0.52595 Argentine Peso
1 Philippine Peso = 0.02519 Australian Dollar
1 Philippine Peso = 0.03338 Aruba Florin
1 Philippine Peso = 0.0375 Barbados Dollar
1 Philippine Peso = 1.56891 Bangladesh Taka
1 Philippine Peso = 0.03163 Bulgarian Lev
1 Philippine Peso = 0.00708 Bahraini Dinar
1 Philippine Peso = 32.83293 Burundi Franc
1 Philippine Peso = 0.01875 Bermuda Dollar
1 Philippine Peso = 0.02508 Brunei Dollar
1 Philippine Peso = 0.12845 Bolivian Boliviano
1 Philippine Peso = 0.06994 Brazilian Real
1 Philippine Peso = 0.01875 Bahamian Dollar
1 Philippine Peso = 1.26852 Bhutan Ngultrum
1 Philippine Peso = 0.19282 Botswana Pula
1 Philippine Peso = 375.39846 Belarus Ruble
1 Philippine Peso = 0.03746 Belize Dollar
1 Philippine Peso = 0.02475 Canadian Dollar
1 Philippine Peso = 0.0187 Swiss Franc
1 Philippine Peso = 11.85955 Chilean Peso
1 Philippine Peso = 0.12072 Chinese Yuan
1 Philippine Peso = 54.23964 Colombian Peso
1 Philippine Peso = 10.57585 Costa Rica Colon
1 Philippine Peso = 0.01875 Cuban Peso
1 Philippine Peso = 1.78136 Cape Verde Escudo
1 Philippine Peso = 0.41526 Czech Koruna
1 Philippine Peso = 3.32833 Djibouti Franc
1 Philippine Peso = 0.1203 Danish Krone
1 Philippine Peso = 0.92481 Dominican Peso
1 Philippine Peso = 2.19301 Algerian Dinar
1 Philippine Peso = 0.25282 Estonian Kroon
1 Philippine Peso = 0.33377 Egyptian Pound
1 Philippine Peso = 0.51078 Ethiopian Birr
1 Philippine Peso = 0.01616 Euro
1 Philippine Peso = 0.03862 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01411 British Pound
1 Philippine Peso = 0.08774 Ghanaian Cedi
1 Philippine Peso = 0.8783 Gambian Dalasi
1 Philippine Peso = 168.7418 Guinea Franc
1 Philippine Peso = 0.13756 Guatemala Quetzal
1 Philippine Peso = 3.86799 Guyana Dollar
1 Philippine Peso = 0.14715 Hong Kong Dollar
1 Philippine Peso = 0.44823 Honduras Lempira
1 Philippine Peso = 0.11904 Croatian Kuna
1 Philippine Peso = 1.22745 Haiti Gourde
1 Philippine Peso = 5.20533 Hungarian Forint
1 Philippine Peso = 261.11007 Indonesian Rupiah
1 Philippine Peso = 0.06788 Israeli Shekel
1 Philippine Peso = 1.27862 Indian Rupee
1 Philippine Peso = 22.20139 Iraqi Dinar
1 Philippine Peso = 793.5496 Iran Rial
1 Philippine Peso = 2.01763 Iceland Krona
1 Philippine Peso = 2.42115 Jamaican Dollar
1 Philippine Peso = 0.01329 Jordanian Dinar
1 Philippine Peso = 2.07454 Japanese Yen
1 Philippine Peso = 1.89293 Kenyan Shilling
1 Philippine Peso = 1.28161 Kyrgyzstan Som
1 Philippine Peso = 75.86537 Cambodia Riel
1 Philippine Peso = 7.83274 Comoros Franc
1 Philippine Peso = 16.87605 North Korean Won
1 Philippine Peso = 20.66229 Korean Won
1 Philippine Peso = 0.00567 Kuwaiti Dinar
1 Philippine Peso = 0.01538 Cayman Islands Dollar
1 Philippine Peso = 6.31164 Kazakhstan Tenge
1 Philippine Peso = 157.15357 Lao Kip
1 Philippine Peso = 28.23364 Lebanese Pound
1 Philippine Peso = 2.99081 Sri Lanka Rupee
1 Philippine Peso = 2.62835 Liberian Dollar
1 Philippine Peso = 0.2522 Lesotho Loti
1 Philippine Peso = 0.05717 Lithuanian Lita
1 Philippine Peso = 0.01164 Latvian Lat
1 Philippine Peso = 0.02542 Libyan Dinar
1 Philippine Peso = 0.17853 Moroccan Dirham
1 Philippine Peso = 0.31382 Moldovan Leu
1 Philippine Peso = 0.9715 Macedonian Denar
1 Philippine Peso = 25.27658 Myanmar Kyat
1 Philippine Peso = 45.11532 Mongolian Tugrik
1 Philippine Peso = 0.15157 Macau Pataca
1 Philippine Peso = 6.65667 Mauritania Ougulya
1 Philippine Peso = 0.65479 Mauritius Rupee
1 Philippine Peso = 0.29196 Maldives Rufiyaa
1 Philippine Peso = 13.37802 Malawi Kwacha
1 Philippine Peso = 0.38672 Mexican Peso
1 Philippine Peso = 0.0747 Malaysian Ringgit
1 Philippine Peso = 0.2516 Namibian Dollar
1 Philippine Peso = 6.71292 Nigerian Naira
1 Philippine Peso = 0.58522 Nicaragua Cordoba
1 Philippine Peso = 0.15276 Norwegian Krone
1 Philippine Peso = 2.03846 Nepalese Rupee
1 Philippine Peso = 0.02698 New Zealand Dollar
1 Philippine Peso = 0.00722 Omani Rial
1 Philippine Peso = 0.01875 Panama Balboa
1 Philippine Peso = 0.06144 Peruvian Nuevo Sol
1 Philippine Peso = 0.05887 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.23233 Pakistani Rupee
1 Philippine Peso = 0.06922 Polish Zloty
1 Philippine Peso = 105.94412 Paraguayan Guarani
1 Philippine Peso = 0.06825 Qatar Rial
1 Philippine Peso = 0.07529 Romanian New Leu
1 Philippine Peso = 1.18378 Russian Rouble
1 Philippine Peso = 15.92781 Rwanda Franc
1 Philippine Peso = 0.07032 Saudi Arabian Riyal
1 Philippine Peso = 0.1483 Solomon Islands Dollar
1 Philippine Peso = 0.25162 Seychelles Rupee
1 Philippine Peso = 0.33668 Sudanese Pound
1 Philippine Peso = 0.16475 Swedish Krona
1 Philippine Peso = 0.02532 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.41639 Slovak Koruna
1 Philippine Peso = 148.88431 Sierra Leone Leone
1 Philippine Peso = 10.53816 Somali Shilling
1 Philippine Peso = 395.79974 Sao Tome Dobra
1 Philippine Peso = 0.16407 El Salvador Colon
1 Philippine Peso = 9.65648 Syrian Pound
1 Philippine Peso = 0.25162 Swaziland Lilageni
1 Philippine Peso = 0.61204 Thai Baht
1 Philippine Peso = 0.04892 Tunisian Dinar
1 Philippine Peso = 0.04288 Tongan paʻanga
1 Philippine Peso = 0.08861 Turkish Lira
1 Philippine Peso = 0.12572 Trinidad Tobago Dollar
1 Philippine Peso = 0.56497 Taiwan Dollar
1 Philippine Peso = 42.52766 Tanzanian Shilling
1 Philippine Peso = 0.49372 Ukraine Hryvnia
1 Philippine Peso = 71.94825 Ugandan Shilling
1 Philippine Peso = 0.01875 United States Dollar
1 Philippine Peso = 0.59066 Uruguayan New Peso
1 Philippine Peso = 148.13426 Uzbekistan Sum
1 Philippine Peso = 1496.34352 Venezuelan Bolivar
1 Philippine Peso = 427.78924 Vietnam Dong
1 Philippine Peso = 2.02025 Vanuatu Vatu
1 Philippine Peso = 0.04811 Samoa Tala
1 Philippine Peso = 10.58541 CFA Franc (BEAC)
1 Philippine Peso = 0.05063 East Caribbean Dollar
1 Philippine Peso = 10.58541 CFA Franc (BCEAO)
1 Philippine Peso = 1.91656 Pacific Franc
1 Philippine Peso = 4.68498 Yemen Riyal
1 Philippine Peso = 0.25181 South African Rand
1 Philippine Peso = 97.30921 Zambian Kwacha
1 Philippine Peso = 6.78605 Zimbabwe dollar

FINTQ records double-digit loan growth through Lendr

FINTQ--the financial technology arm of PLDT and Smart’s Voyager Innovations--saw loan disbursements processed through Lendr, its digital lending platform, balloon by nearly a third in 2017 from a year ago with most of the borrowers coming from the ‘starting out’ segment, an executive said.

“Loans disbursed through Lendr for 2017 reached more than P12 billion, nearly a third higher than the volume recorded the year before, bringing our total loans disbursed to about P27 billion since we went to market in 2015,” said Lito Villanueva, FINTQ Managing Director.

The tremendous year-on-year performance, Villanueva said, was mainly propelled by business synergies with both banks and non-bank associations sealed throughout the year and the regulatory support given to FINTQ. He also noted that applications through Lendr registered the highest loan approval rate at around 40 percent last year due to “digital efficiencies.”

“Lendr’s feature of filtering of loan applicants based on the bank and non-bank partners’ credit parameters enabled them to quickly generate quality leads and approve eligible borrowers,” he said.

As of end-2017, FINTQ has inked agreements with a total of 70 institutions. These include: the Landbank of the Philippines; China Bank Savings; RCBC Savings Bank; Philippine Bank of Communications; Producers Savings Bank Corp.; Camalig Bank, Inc. (A Rural Bank); PNB Savings Bank; Maybank Philippines; EastWest Bank; CARD Bank, Inc.; CARD SME Bank, Inc.; Rizal Bank, Inc.; First Circle; Esquire Financing, Inc.; ALGO Leasing and Finance; Cebuana Lhuillier; Atram Trust Corp.’s Seedbox Technologies; Radiowealth Finance Company; Chamber of Thrift Banks; and the Rural Bankers Association of the Philippines. FINTQ will also be working with CoopHub to offer Lendr services to over 26,000 cooperatives nationwide.

“Majority of those who borrow through Lendr are single, female, employed, and are the so-called millennials or those born from 1982 to 2004. Such borrowers are what we call the ‘Starting Out’ segment--or the young adults who are just beginning with their careers. At this stage of their lives, they only have need for relatively simple financial products such as a transaction account and/or a credit card. From time to time, they utilize basic banking products to fund their R&R activities (e.g. travel, new gadgets, or hobby) or invest in the financial market,” Villanueva said.

“Borrowers who use Lendr are those with profiles that are targeted by banks. This only goes to show that our platform is really beneficial for our bank and non-bank partners as we work together in providing the financial needs of consumers,” Villanueva said.

However, he also pointed out that “8 out of 10 of our borrowers are from the provinces and about 26 percent are residing in low-income cities and municipalities. This only shows that there is really a huge untapped market by formal financial institutions in rural communities and with our digital financial platforms such as Lendr, wherein we also offer micro-loans via Pera Agad, we are able to service their financial needs,” said Villanueva.

FINTQ and Voyager Innovations are strongly committed to the Bangko Sentral ng Pilipinas to promote the National Strategy for Financial Inclusion. It targets to include 30 million Filipinos in the formal financial sector by 2020 through KasamaKA--its grassroots-based financial inclusion program--and Lendr, which also offers Pera Agad--a micro-loan service for the unbanked and underbanked without or has limited access to finance. Through Pera Agad, qualified Smart and Talk and Text prepaid subscribers can apply for loans ranging from P2,000 to P10,000 with a term of 4 to 36 weeks.

In terms of types of loan applications received, Villanueva shared that majority are for salary loans. There were also a number of applications for microfinance and business loans. He noted that nearly 50 percent of the transactions are done after banking hours, which signifies that “digital platforms that provide banking products and services have absolutely eased doing banking transactions for consumers.”

“Through Lendr, our digital lending platform, prospective borrowers can apply for a loan and can closely monitor their loan accounts anytime of the day and wherever they are,” Villanueva said.

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, mSME loan, overseas Filipino loan, and truck and equipment loan, among others.

With all its efforts, Lendr is the first non-bank product to win the Consumer Finance Product of the Year at the recent Asian Banker Philippine Country Awards. It 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.

“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,” Villanueva said.

Overall, he said: “While we are accelerating our digital lending initiative through Lendr, several game-changing platforms will also be launched. Other key digital platforms for various financial services will 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.”
“2018 will be a banner year for FINTQ as we are going beyond lending,” Villanueva said.
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