SINGAPORE - Media OutReach - 26 July 2019 - Cashwagon, a fintech company forSouth-East Asia's unbanked, has officially rolled out a software feature of cashpick-up options in the Philippines to provide access to funds and other financial resources to over 60 million unbanked andunderserved Filipinos. This is not only the country's first-ever cash pick-up servicefor the unbanked, it is also a significant step forward towards true financialinclusion.

With the cash pick-up feature now introduced,customers can now collect their cash loans from thousands of Cashwagon's partnersthroughout the country by simply presenting the reference number sent throughSMS and the identity card used in their online application. Customers now do notneed a bank account to access financial products accessible via Cashwagon'splatform. 

The newly introduced feature pushes theboundary on technology innovation, as Cashwagon now provides unparalleledaccess to financial products that will transform the customer experience,increase convenience and more importantly, bring true financial inclusion toits customers.  

As a trailblazer in the industry, Cashwagon has continuallystrived to improve their FinTech services, by leveraging on new technologyapplications in self-service and online banking, machine learning, Big Data,and artificial intelligence (AI). From loan application, processing, todisbursement and repayment, every aspect of the process has been enhanced with ITsolutions.

Mr Maxim Chernuschenko, Founder and CEOof Cashwagon,said "We are a pioneer in the industry and our very own innovative digitalplatform that builds digital bridges which outperforms traditional financial institutions,allows us to serve the many instead of the few.Our goal is to serve the unbanked market, to provide relief to Filipinos,especially to those without a bank account and are stressed from financialchallenges and seeking immediate solutions, with our inclusive service featuresand real-time transaction benefits."

While the cash pick-up feature was developedto enhance Cashwagon platform's offerings, it also represents another milestoneachieved in Cashwagon's ongoing mission to extend financial inclusivity to theunderbanked. A 2017 Financial Inclusion Survey conducted by the Central Bank ofthe Philippines revealed the presence of a huge market unbanked and underservedin the country, where only a minority were served by traditional financialinstitutions - only 22.6% of Filipino adults had formal financial accounts, andonly 11.5% had a bank account.

For more information:

https://www.dropbox.com/sh/mkphiewxrfm2ib2/AABYw8v7jMgJ2wtu9BAlk3m_a?dl=0