Gotianun-led EastWest Banking Corp. has teamed up with FINTQ, the technology arm of PLDT and Smart’s Voyager Innovations, to offer consumer loans through digital lending platform Lendr.
This partnership between EastWest, a traditional lender, and a financial technology company is seen to allow the former to complement its traditional lending channel.
In a statement on Friday, EastWest chair Jonathan Gotianun said the bank had always believed in tapping technology and collaborating with partners to enhance product offerings and serve customers in the best way possible.
“We are very excited about this partnership. Lendr lets the bank reach out to more consumers. It also makes it easy and convenient for anyone to apply for an EastWest loan as they can simply use their computer or mobile gadget,” said Gotianun.
Lendr is the country’s first 24/7 digital loans marketplace. Any consumer can apply anytime for a loan to purchase a vehicle, to pay for school tuition or dream vacations, or for emergencies via Lendr’s mobile app or website, www.lender.com.ph. Using the digital channel, consumers can keep track of their loan application status, loan repayments, and amortization schedule.
With this partnership, consumer-focused lender EastWest will make available personal loans and auto loans through Lendr by the fourth quarter of this year. Eventually, the offering will also include EastWest home loans, small and medium enterprise (SME) loans and credit cards.
“Consumers today are very mobile and they want fast service. By offering our loans through Lendr, we are reaffirming our promise to customers that their dream is our focus. It is a very accessible channel through which we can help more Filipinos achieve their dreams,” said EastWest executive vice president and consumer lending head Jacqueline Fernandez.
On its consumer lending business, EastWest pitches low interest rates, flexible payment terms, and fast processing. —DORIS DUMLAO-ABADILLA