Filipinos in need of money quickly will soon be able to borrow money in minutes through a groundbreaking partnership between Security Bank and cash loan app JuanHand.
The agreement aims to foster greater financial inclusion through loan proposals that respond to consumer needs.
Security Bank offers a credit feature where JuanHand app users can apply for and get approved for a loan in 5 minutes with the help of artificial intelligence (AI).
Borrowers only need to provide basic personal information and a copy of a valid ID on their application, and no collateral or proof of income is required.
“This partnership is a step towards strengthening financial inclusion across the country,” said John Carey Ong, executive vice president of the bank, which is led by Bilyonaryo Frederick Day.
With a customer base of 12 million, JuanHand has disbursed over P40 billion in loans to date.
