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Published August 31, 2022, 9:14 AM
by Enzo Luna
As of 2022, Home Credit has empowered women customers (50%), youth segment (27%), and introduced digitalization and innovation (63%) while continuously creating social impact and supporting causes that add value to the lives of Filipinos. Home Credit gained 466,000, and more, new customers from different walks of life giving them access to affordable, convenient, and quality financial services.
Home Credit is broadening its access to Filipino customers by promoting innovation and digital inclusion as many Filipinos are using their mobile phones and devices, encouraging and leveraging omni-channels to communicate and engage with customers online, on-air, and onground, as digital transformation is evident in the past two years. Home Credit tied up with DZRH to promote financial literacy in bite-sized contents to empower customers to make them wiser and resilient, strengthening their campaign as a trusted ally of Filipinos Para sa Life.
Home Credit is also championing environment, social and governance (ESG) programs as part of its financial literacy advocacy.
Some initiatives that enabled the company to make financial inclusion a reality are:
●Home Credit closed its very first ESG-linked credit facility with Deutsche Bank in December 2021 amounting to PHP 1.2 billion. This facility provided women and first-time borrowers with expanded credit access and supported financial literacy programs in the country. It also supported the company’s digitalization efforts, which then enabled Home Credit to provide 60 percent of its loan via digital channels.
●Earlier in May this year, Home Credit pioneered a PHP 420 million social finance facility, which was recently increased to PHP 820 million, with the country’s largest foreign bank Citi. This facility supported Home Credit’s customers in purchasing basic digital devices—half of the loan goes to women, who make up 50 percent of Home Credit’s customers.
●The company closed a PHP 7-billion two-year credit facility with multi-awarded universal bank UnionBank to provide comprehensive financial access to more Filipinos. The agreement allows Home Credit to provide more Filipinos with financial accessibility and inclusion across the brand’s intuitive and affordable loan products
“Financial inclusion has always been at the heart of how we approach business. Ensuring that we are able to provide tailor-fit solutions to our customers’ particular circumstances has been vital in our goal of bringing financial opportunities closer to more Filipinos,” said HCPH’s Director and Treasurer, Zdenek Jankovsky.
HCPH’s solid progress in financial inclusion
Since entering the country almost nine years ago, Home Credit has disbursed more than PHP 178 billion worth of loans to Filipinos across segments, including the services, education, and health sectors. Now, Home Credit has evolved into a one-stop ally to millions of Filipinos.
Over the past years, Home Credit has expanded its network to a robust 10,000 retail partners nationwide, has aggressively grown its online presence, and has forged partnerships with the country’s biggest brands.
As a global consumer finance provider, Home Credit continues to find more opportunities to expand its services both online and offline by partnering with more brands and retailers across key categories such as healthcare, fashion, beauty, and fitness.
“Building on Home Credit’s heritage of delivering a broad range of financial products and services, Home Credit Philippines has enabled almost 9 million Filipinos nationwide to access credit opportunities. As the needs of our consumers continue to evolve, we commit to supporting them as we build a more financially resilient Philippines,” shared HCPH’s Chief Executive Officer, David Minol.
Empowering Filipinos Para sa Life
Still in pursuit of its goal of financial inclusion for more Filipinos, the consumer finance company launched its Para sa Life campaign. This initiative hopes to let spread a message of hope, making the brand a reliable ally of Filipinos for life.
One of the initiatives under the Para sa Life campaign is the Payo Para sa Life, a 2-minute radio show that discusses fundamental financial literacy topics. This program is aimed at various communities, including market vendors, farmers, fisherfolk, public transportation drivers, and security guards.
The Para sa Life campaign also debuted a music video – top billed by singer-songwriter Moira dela Torre – that positioned Home Credit as a reliable financial partner that assists Filipinos in whichever stage of life they may be.
“At Home Credit Philippines, we see transformative communication as a way to effectively tell our story — the story of empowered Filipinos. The Para sa Life campaign did exactly just that as it encapsulated our promise of companionship in our customers’ life journey,” shares HCPH’s Chief Marketing Officer, Sheila Paul.
“Being able to present our services and solutions in ways that closely speak to our consumers helps us continue championing a financially empowered and inclusive Philippines. Para sa Life gave the brand a ‘face and feeling’. It also empowered over 13,000 employees showing them that they could be the brand ambassadors themselves. We really wanted to give them something that they can be proud of and show the world the efforts that they put through,” she added.
Home Credit disclosed earlier this week during its first face-to-face media event since the pandemic, that the top ranking items financed by them are mobile phones, laptops, air-conditioning units, and bikes. Home Credit is the leading consumer finance in the Philippines.
“Home Credit, a leading consumer finance company with a wide global footprint, continues to ramp up its efforts in the Philippines. We empower close to 9 million Filipinos nationwide through our broad range of financial products and services delivered in a responsible way. We continuously meet the customers evolving needs through innovative financial products and services. We aim to be their ally in building a better, brighter, and resilient world,” said Minol.
Home Credit Philippines is a financing company duly licensed and supervised by the Securities and Exchange Commission (SEC) and by the Bangko Sentral ng Pilipinas (BSP). To know more about Home Credit Philippines, visit their official website www.homecredit.ph.
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