Instalment loans provided on the Cashwagon platform have been well-received in Indonesia, Philippines and Sri Lanka
- Media OutReach - 31 January 2020
- With the ongoing goal of driving financial inclusion in South East Asia, Cashwagon, a
fintech company, today shared that it has seen strong customer interest in the
instalment loan consumer finance product offered by its partners in the
Indonesian market. Following this, the company has plans to introduce access
loans in its other markets soon, starting with the rapidly growing market of
Vietnam in the first quarter of 2020. By connecting users with the instalment
loans that they are looking for, the company has helped local Indonesians
obtain the personal financing necessary to take charge of their lives.
The instalment loans offered
through the Cashwagon platform has been launched in three markets: Indonesia,
Sri Lanka and the Philippines, where many locals are underserved by traditional
financial institutions. Cashwagon's AI-powered evaluation algorithms have sped
up the loan approval process helping to drive strong demand for its partners'
loan products and providing customers with a hassle-free application process
and quick turnaround. Cashwagon, together with its partners, offers access to
free trial products to individuals who have not used Cashwagon's platform
before, providing them with the financing options that they need.
Mr Maxim Chernuschenko, CEO
and Founder of Cashwagon,
said: "For the local people, securing credit is very difficult because they are
often turned away from traditional financial institutions. They are not getting access to the financial
resources that they need, and this is what our instalment loans help with.
We're glad to be able to bring financial inclusion to those in Indonesia, Sri
Lanka and the Philippines. We're excited to provide our Vietnamese market with
access to instalment loans in early 2020."
company has developed the digital platform used on websites and mobile
applications by its lending partners in local markets. To date, Cashwagon has reached a cumulative global loan processing
milestone of 4,500,000 loans valued at US$400 million, which were disbursed by its local partners to
more than 1,250,000
customers in 5 different countries.
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