SINGAPORE - Media OutReach - 6 June 2019 - Cashwagon,
the rapidly scaling fintech company for South-East Asia's underbanked, today
announced that it has clinched the Digital
Award for Financial Services by Singapore Business Review Technology
Excellence Awards for its effective usage of new technologies to bring
financial access and inclusivity to its consumers.
Recognising leading companies in
technology innovation, the Technology Excellence Awards lauds outstanding
companies that have pioneered ground-breaking IT products and solutions and
implemented truly innovative technology initiatives that have made an impact in
Cashwagon's award is a recognition of
its commitment to South-East Asia's underbanked. The fintech company developed
a platform that provides access to competitive consumer finance products to the
80% of South-East Asians who are underserved by traditional financial
institutions. The products are offered by Cashwagon's credit partners who are duly
licensed according to applicable laws. The company leverages fintech on its
platform, such as AI and Big Data, to enable easy access to consumer financing.
It simplifies the complex approval procedures by offering a quick turnaround
time of just a few minutes from application to credit.
While Cashwagon is headquartered in
Singapore where the founder and the management team are based in, the company
operates outside of Singapore in five South-East Asian countries: Indonesia,
Philippines, Sri Lanka, Vietnam, Malaysia and is expanding into India in the
second half of 2019.
Since launch in 2017 till date, Cashwagon's
partners have processed close to 2,300,000 loans valued at US$193,000,000 to
near 1 million unique retail consumers through Cashwagon developed platform. A mobile
application developed by Cashwagon was launched in all countries of operation to
provide a seamless user experience and it has since garnered over 1.5 million
downloads to date.
Mr Maxim Chernuschenko, CEO and Founder of Cashwagon,
said: "We view Cashwagon as a progressive fintech company that builds digital bridges
which outperforms traditional finance companies and that connects people with
the financial services they've been looking for. We believe that when people
have easy access to finance, families and communities are healthier, happier
and better positioned to succeed."
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