OneConnect Financial Technology announced that it created two new smart lending platforms, the first is tiled SeekCap, and the second is a multi-finance platform. Both of the new platforms will implement technology to increase banking access for underserved populations. Additionally, increased access to banking services can have significant economic impacts on the regions that get served.
SeekCap will be the first smart lending platform in the Philippines that will help small to medium-sized businesses grow and manage cashflow. Additionally, SeekCap will have multiple lenders, which will allow people to choose the best lender for their business. The multi-finance lending platform will provide access to loans and financing to underbanked Indonesians. The loans can then be used for larger purchases like cars or motorcycles.
Tan Bin Ru, the CEO of OneConnect Financial Technology stated that the company views the Philippines as an important strategic market.
Image Credit: Shutterstock