July 23, 2018, 9:34 pm
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1 Philippine Peso = 0.06891 UAE Dirham
1 Philippine Peso = 1.99812 Albanian Lek
1 Philippine Peso = 0.03452 Neth Antilles Guilder
1 Philippine Peso = 0.51726 Argentine Peso
1 Philippine Peso = 0.02526 Australian Dollar
1 Philippine Peso = 0.0334 Aruba Florin
1 Philippine Peso = 0.03752 Barbados Dollar
1 Philippine Peso = 1.57017 Bangladesh Taka
1 Philippine Peso = 0.03144 Bulgarian Lev
1 Philippine Peso = 0.00709 Bahraini Dinar
1 Philippine Peso = 32.85141 Burundi Franc
1 Philippine Peso = 0.01876 Bermuda Dollar
1 Philippine Peso = 0.02546 Brunei Dollar
1 Philippine Peso = 0.12871 Bolivian Boliviano
1 Philippine Peso = 0.07076 Brazilian Real
1 Philippine Peso = 0.01876 Bahamian Dollar
1 Philippine Peso = 1.29362 Bhutan Ngultrum
1 Philippine Peso = 0.19433 Botswana Pula
1 Philippine Peso = 375.60976 Belarus Ruble
1 Philippine Peso = 0.03748 Belize Dollar
1 Philippine Peso = 0.02466 Canadian Dollar
1 Philippine Peso = 0.01861 Swiss Franc
1 Philippine Peso = 12.39231 Chilean Peso
1 Philippine Peso = 0.12694 Chinese Yuan
1 Philippine Peso = 53.79925 Colombian Peso
1 Philippine Peso = 10.56379 Costa Rica Colon
1 Philippine Peso = 0.01876 Cuban Peso
1 Philippine Peso = 1.76454 Cape Verde Escudo
1 Philippine Peso = 0.41373 Czech Koruna
1 Philippine Peso = 3.33021 Djibouti Franc
1 Philippine Peso = 0.11925 Danish Krone
1 Philippine Peso = 0.92946 Dominican Peso
1 Philippine Peso = 2.2063 Algerian Dinar
1 Philippine Peso = 0.2502 Estonian Kroon
1 Philippine Peso = 0.3349 Egyptian Pound
1 Philippine Peso = 0.51238 Ethiopian Birr
1 Philippine Peso = 0.01599 Euro
1 Philippine Peso = 0.03929 Fiji Dollar
1 Philippine Peso = 0.01427 Falkland Islands Pound
1 Philippine Peso = 0.0143 British Pound
1 Philippine Peso = 0.08965 Ghanaian Cedi
1 Philippine Peso = 0.8925 Gambian Dalasi
1 Philippine Peso = 169.1182 Guinea Franc
1 Philippine Peso = 0.14047 Guatemala Quetzal
1 Philippine Peso = 3.89268 Guyana Dollar
1 Philippine Peso = 0.14725 Hong Kong Dollar
1 Philippine Peso = 0.44908 Honduras Lempira
1 Philippine Peso = 0.11833 Croatian Kuna
1 Philippine Peso = 1.26435 Haiti Gourde
1 Philippine Peso = 5.20544 Hungarian Forint
1 Philippine Peso = 271.57598 Indonesian Rupiah
1 Philippine Peso = 0.06798 Israeli Shekel
1 Philippine Peso = 1.28997 Indian Rupee
1 Philippine Peso = 22.32645 Iraqi Dinar
1 Philippine Peso = 817.63602 Iran Rial
1 Philippine Peso = 1.99062 Iceland Krona
1 Philippine Peso = 2.44371 Jamaican Dollar
1 Philippine Peso = 0.01329 Jordanian Dinar
1 Philippine Peso = 2.09036 Japanese Yen
1 Philippine Peso = 1.88462 Kenyan Shilling
1 Philippine Peso = 1.27979 Kyrgyzstan Som
1 Philippine Peso = 75.96623 Cambodia Riel
1 Philippine Peso = 7.86454 Comoros Franc
1 Philippine Peso = 16.88555 North Korean Won
1 Philippine Peso = 21.13321 Korean Won
1 Philippine Peso = 0.00568 Kuwaiti Dinar
1 Philippine Peso = 0.01538 Cayman Islands Dollar
1 Philippine Peso = 6.50019 Kazakhstan Tenge
1 Philippine Peso = 157.69231 Lao Kip
1 Philippine Peso = 28.24578 Lebanese Pound
1 Philippine Peso = 2.99906 Sri Lanka Rupee
1 Philippine Peso = 2.82176 Liberian Dollar
1 Philippine Peso = 0.25122 Lesotho Loti
1 Philippine Peso = 0.0572 Lithuanian Lita
1 Philippine Peso = 0.01164 Latvian Lat
1 Philippine Peso = 0.02582 Libyan Dinar
1 Philippine Peso = 0.17712 Moroccan Dirham
1 Philippine Peso = 0.31191 Moldovan Leu
1 Philippine Peso = 0.98124 Macedonian Denar
1 Philippine Peso = 27.07317 Myanmar Kyat
1 Philippine Peso = 45.94747 Mongolian Tugrik
1 Philippine Peso = 0.15166 Macau Pataca
1 Philippine Peso = 6.66041 Mauritania Ougulya
1 Philippine Peso = 0.64259 Mauritius Rupee
1 Philippine Peso = 0.29212 Maldives Rufiyaa
1 Philippine Peso = 13.38537 Malawi Kwacha
1 Philippine Peso = 0.35681 Mexican Peso
1 Philippine Peso = 0.07617 Malaysian Ringgit
1 Philippine Peso = 0.25131 Namibian Dollar
1 Philippine Peso = 6.73546 Nigerian Naira
1 Philippine Peso = 0.58799 Nicaragua Cordoba
1 Philippine Peso = 0.1534 Norwegian Krone
1 Philippine Peso = 2.06473 Nepalese Rupee
1 Philippine Peso = 0.02754 New Zealand Dollar
1 Philippine Peso = 0.00721 Omani Rial
1 Philippine Peso = 0.01876 Panama Balboa
1 Philippine Peso = 0.06142 Peruvian Nuevo Sol
1 Philippine Peso = 0.06111 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.40338 Pakistani Rupee
1 Philippine Peso = 0.06911 Polish Zloty
1 Philippine Peso = 107.46904 Paraguayan Guarani
1 Philippine Peso = 0.06831 Qatar Rial
1 Philippine Peso = 0.07438 Romanian New Leu
1 Philippine Peso = 1.1907 Russian Rouble
1 Philippine Peso = 16.006 Rwanda Franc
1 Philippine Peso = 0.07036 Saudi Arabian Riyal
1 Philippine Peso = 0.14815 Solomon Islands Dollar
1 Philippine Peso = 0.25182 Seychelles Rupee
1 Philippine Peso = 0.33678 Sudanese Pound
1 Philippine Peso = 0.16626 Swedish Krona
1 Philippine Peso = 0.02554 Singapore Dollar
1 Philippine Peso = 0.01428 St Helena Pound
1 Philippine Peso = 0.41662 Slovak Koruna
1 Philippine Peso = 157.41088 Sierra Leone Leone
1 Philippine Peso = 10.69418 Somali Shilling
1 Philippine Peso = 392.12008 Sao Tome Dobra
1 Philippine Peso = 0.16417 El Salvador Colon
1 Philippine Peso = 9.66191 Syrian Pound
1 Philippine Peso = 0.25104 Swaziland Lilageni
1 Philippine Peso = 0.62495 Thai Baht
1 Philippine Peso = 0.04951 Tunisian Dinar
1 Philippine Peso = 0.0442 Tongan paʻanga
1 Philippine Peso = 0.0899 Turkish Lira
1 Philippine Peso = 0.12621 Trinidad Tobago Dollar
1 Philippine Peso = 0.57388 Taiwan Dollar
1 Philippine Peso = 42.58912 Tanzanian Shilling
1 Philippine Peso = 0.49568 Ukraine Hryvnia
1 Philippine Peso = 70.09381 Ugandan Shilling
1 Philippine Peso = 0.01876 United States Dollar
1 Philippine Peso = 0.58555 Uruguayan New Peso
1 Philippine Peso = 145.53471 Uzbekistan Sum
1 Philippine Peso = 2245.77861 Venezuelan Bolivar
1 Philippine Peso = 432.49531 Vietnam Dong
1 Philippine Peso = 2.06942 Vanuatu Vatu
1 Philippine Peso = 0.04922 Samoa Tala
1 Philippine Peso = 10.49099 CFA Franc (BEAC)
1 Philippine Peso = 0.05066 East Caribbean Dollar
1 Philippine Peso = 10.49099 CFA Franc (BCEAO)
1 Philippine Peso = 1.90938 Pacific Franc
1 Philippine Peso = 4.68762 Yemen Riyal
1 Philippine Peso = 0.25122 South African Rand
1 Philippine Peso = 97.36398 Zambian Kwacha
1 Philippine Peso = 6.78987 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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