Lentra, a digital lending software as a service platform, is expanding its footprint across Southeast Asia by setting up operations in the Philippines, targeting retail businesses and small and medium enterprises (SME).
With an ecosystem of more than 150 banks that primarily focuses on commercial banking, Lentra said it specializes in retail and SME lending.
“Demand for retail and SME loans presents a huge opportunity for most banks in the Philippines. With a rising youth population and favorable policies to encourage financial inclusion, Lentra’s entry into the Philippines is timely. We will enable our banking ecosystem to keep pace with digitization and to accelerate financial inclusion,” said Joel Del Valle, Lentra country general manager-Philippines.
D Venkatesh, Lentra chief executive officer (CEO) and founder, said the company has partnered with over 60 financial institutions to reach a significant slice of the underbanked population.
“The growth in the Asean market is also an opportunity for the region to broaden its horizon and welcome cross-country solution providers like us. We are excited about the growth prospects of the Philippines. Our platform-agnostic products stand at the forefront of technology and have the potential to bring transformative changes to the digital lending landscape, positively impacting both underserved communities and financial institutions,” he added. – Myla Iglesias
