Securing future credit with digital financial aid
The recent changes in economic situations brought by the COVID-19 pandemic introduced a rising need to shift to alternative resolutions to ensure financial security.
Lack of job opportunities, below-average salary, and homelessness are only some of the issues identified among individuals facing financial problems. Filipinos living and working abroad are also included in this, and there is a need to provide for other ways to answer this.
Before the pandemic, the Philippines was already experiencing inflation and rising cost goods.
While the economy remained on good standing with the help of various industries and from remittances received from overseas Filipino workers (OFWs), citizens were not secured financially in various obligations.
This was easily proved when COVID-19 struck the country, and the pandemic brought the economy to go on a dip. During the first year, businesses had to close, and employees were laid off from their workplaces.
The succeeding years of the pandemic saw some improvement, but the overall situation remained the same.
There was still uncertainty about the general outlook of security. Financial situations either remained stagnant or individuals looked for alternative options to keep their finances safe.
Many institutions and start-ups sprung up to help solve some of these problems. One of these is JuanHand, a new digital loan partner based in the Philippines from trusted loan company WeFund. It aims to provide fast cash loans through an app and offers itself as a helping hand to users.
Its lending terms are easy in the pocket and it can process approvals within seconds. It seeks to provide financial aid at the exact moment it is needed.
The company recently relaunched its app to improve its security features and to provide better services while being government compliant.
Solutions like these have been sought after by Filipinos as there is scarcity of available public loans and these alternatives are faster to process than bank loans.
Another reason why this is preferred is because apps like JuanHand limits the information asked for to only what is necessary to approve the quick cash loans.
Privacy is an important issue nowadays, especially during the social media age. The Philippines passed the Data Privacy Act in 2012 to promote protection of information from the public.
Filipinos have subscribed to privacy-compliant apps and are careful with the amount of information being exchanged online.
Have more control of your finances while staying secure. Download the JuanHand app on Apple’s App Store to know more.
INQUIRER.net BrandRoom/FE
