PROVINCIAL borrowers can now use a mobile-based app to apply for and track loans across banks as the country moves towards better financial inclusion.
The Rural Bankers Association of the Philippines (RBAP) forged a deal with Voyager Innovations, a unit of the telecommunications provider Philippine Long Distance Co. (PLDT), for the online application Lendr which will serve as an e-marketplace for bank loans, Voyager said in a statement sent over the weekend.
The app will be allow consumers to view loan options across rural and commercial banks, compare their rates, and track their approved and existing obligations. Debt approvals and reminders will be sent via text or e-mail.
“Lendr removes the inconvenience of having to download multiple mobile banking apps or even visiting various bank websites just to look for any consumer loan product– it is a one-stop loan shop,” Lito M. Villanueva, Voyager vice president and head of Fintech, Digital Inclusion and Alliances, was quoted as saying.
Bangko Sentral ng Pilipinas Deputy Governor Nestor A. Espenilla, Jr. said the new loan application scheme would form part of the central bank’s planned National Retail Payments System.
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