FinVolution Group, a leading fintech platform, announced that its Philippine financial application, JuanHand, has entered into a credit facility agreement with Security Bank Corporation (Security Bank), one of the Philippines’ leading universal banks.
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Under this agreement, JuanHand will become Security Bank’s first fintech lending partner, demonstrating JuanHand’s growing regional recognition following its partnerships with Maya Bank, Union Bank and SeaBank. The partnership will enhance FinVolution’s service offerings in the Philippines and advance the Company’s mission of connecting underserved borrowers with financial institutions.
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JuanHand will leverage Security Bank’s credit facility to empower individuals, families, and businesses with quick and accessible financial solutions. Under the terms of the agreement, JuanHand users may apply for unsecured loans using only their basic personal information and one valid ID, eliminating the time-consuming process of gathering proof of income or billing address. JuanHand utilizes FinVolution’s proprietary AI-powered screening technology to rapidly assess borrowers’ creditworthiness, enabling loan approval and disbursal of funds under 5 minutes.
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Mr. Tiezheng Li, Vice Chairman and Chief Executive Officer of FinVolution Group, commented, “We are proud to share that we are the first platform to introduce the loan facilitation model with local financial institutions in the country. Our partnership with Security Bank will create a more financially inclusive environment and increase credit accessibility for underserved customers throughout the region. Guided by our effective Local Excellence, Global Outlook strategy, FinVolution remains committed to improving financial services and elevating user experience for a growing customer base in the markets in which we operate. By expanding our footprint and strengthening our local relationships, we are well positioned to capture Southeast Asia’s enormous opportunities.”
Source – PR Newswire
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