MALAYSIA’S CIMB has tapped FINTQ’s Lendr for its lending business as it beefs up its digital-only strategy in the Philippines.
In a statement, FINTQ and CIMB said the agreement would allow the Malaysian bank to gain access to prospective Filipinos seeking loan products that best suit their needs through Lendr.
Lendr is the digital financial platform of FINTQ, the financial technology arm of PLDT and Smart’s Voyager Innovations. Through Lendr, consumers can apply for their desired loan products by visiting Lendr’s website: www.lendr.com.ph or through the Lendr app (for Android phone users initially).
They just need to create their Lendr account and profile, provide all the necessary information and submit their application with their desired lending partner at their most convenient time, without having to visit a bank branch.
CIMB started its Philippine operations last year and said tapping Lendr was in line with its strategy to establish itself as a “digital-only bank” in the country.
“We are pleased that our relationship with PLDT has evolved into a strong, strategic partnership with its related companies. We are confident that by leveraging on these partners’ local strengths as well as CIMB’s extensive digital experience, we will be able to provide our customers in the Philippines with a seamless digital banking experience,” Tengku Dato’ Sri Zafrul Aziz, CIMB Group chief executive officer said.
For his part, Manuel Pangilinan, chairman of PLDT, Smart, Voyager Innovations and FINTQ, said the group is excited to collaborate with CIMB.
“This is in line with our mission to collaborate with partners and develop mutually beneficial propositions,” Pangilinan said.
Voyager Innovations and FINTQ President and CEO Orlando Vea noted that the collaboration with CIMB “also empowers our consumers as they gain access to more loan products through our Lendr platform, where they can easily secure access to funding anytime, anywhere through their mobile phones.”
“As our first foreign bank partner in the Asean region for Lendr, this collaboration with CIMB allows us to grow our ecosystem of partner financial institutions while at the same time providing more options for our consumers,” FINTQ Managing Director Lito Villanueva said.