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As revealed in a survey by a global fintech holding Robocash Group, the financial inclusion in the Philippines has grown considerably over the past three years. Its main driver is online services, which is confirmed by a 2.5-increase in digital payments between 2017 and 2020.

International: Robocash Group has published the results for January-September 2020. Despite the challenging time, it has improved its portfolio quality and all the performance indicators, by optimizing the core business processes.

While on one hand the Covid-19 outbreak has blurred lines between banks and fintechs and accelerated digital adoption, it has led to decline in number of alternate lenders.

The COVID-19 pandemic has significantly changed the psychology of average borrowers. One of the near-time effects will be the growth of non-bank lending. According to a customer survey of Robocash Group in Asia, 50% of respondents say about a higher need for financing. Moreover, the decrease in incomes during quarantine have prepared 45% for active borrowing when restrictions are lifted. At the same time, the other 9% will be motivated…

SINGAPORE-headquartered payday lender Robocash Group is seeking US$5 million to be used as regulatory capital for a thrift banking licence in the Philippines, ahead of plans to go public in Australia.

Faster funds transfer can add up to 0.5% in GDP growth for SEA.About 80% of the population in the Philippines, Vietnam and Indonesia will have made at least one digital payment transaction by 2021, with the share of active users making five or more e-payments per week exceeding 50%, according to a Robocash study.

It seems there’s no end to how far news of the red-hot Australian fintech sector will travel. Robocash has opened a pre-IPO funding round to finance the launch of its neobank in the Philippines. 

The advanced digital infrastructure has become one of the supporting factors for developing countries in Southeast Asia amid the current recession. Analysts of Robocash Group say that the region has approached this downturn in better shape. According to their estimates, Indonesia and the Philippines can achieve 2.2-2.8% of the GDP growth this year, Vietnam – over 4%.

Driving improvements in the digital space, 5G has accelerated financial inclusion in emerging markets in Asia. Analysts of the financial holding Robocash Group forecast that with its help, about 3 million of the unbanked and underbanked will get access to financial services in both Vietnam and the Philippines by 2025. Indonesia will have 9-11 million, and India – 60 million.

Online lending and microfinance have become a multipurpose solution for customers in Asia. These are the findings of an online survey conducted by Robocash Group in the region earlier this year. Remarkably, men and women apply with different needs in mind. However, already 35% of all respondents in India put the online segment in priority.