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Do you know the functions of consumer finance companies?
SAN FRANCISCO BAY AREA, Ca, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Creditcare Technology, an innovative, multinational consumer finance company, today announced that they have partnered with MoneyGram International, Inc., a worldwide leader in the evolution of digital P2P payments, to expand further into the emerging markets of the Philippines, Vietnam, and, now Nigeria with Moneygram.

CreditCare provides formal, innovative financial products, including unsecured loans and remittances, to the unbanked population, with a fully digital experience or at CreditCare?s 35,000 brick-and-mortar locations.

The spokesperson at CreditCare Technology stated, ?The partnership with MoneyGram is a significant milestone inside our mission to create inclusive financial services to users in emerging markets. We believe financial services should be easy, low-cost, and accessible to not just 10% of the populace. The CreditCare and MoneyGram partnership provides greater access, security, and simplicity for folks to remit funds and obtain access to lines of credit.?

Rolled out in January 2019, thousands of customers immediately responded to obtain low-cost, affordable lines of credit. After 2 yrs of repeated rejections by financial regulators, Founder Julia G. Ko through effort and persistence, secured non-depository bank licenses valid for 50 years in the Philippines and Vietnam. There are just six compelling competitors to service 105 million people per country market due to strong financial regulation and oversight.

With regulatory approval, Ko could integrate with a network of infrastructure consisting of 20,000+ physical locations, operated by SoftBank subsidiaries, to service consumers. This consists of convenient physical locations like 7-11 stores , SM Mall, Robison?s Groceries, and BDO Banks. CreditCare is further expanding to yet another 12,000 locations with Moneygram International, and today, into Nigeria utilizing Moneygram?s backend infrastructure and 9 partner banks.

Founder, Julia G. Ko was driven to build the fintech business from scratch with no known connections in the emerging markets to boost the lives of consumers. ?The digital revolution has accelerated financial access for EMs, and decreased the high cost of customer acquisitions with increased efficiency in underwriting. This presents compelling investment opportunities and cross selling of products within fast-growing economies,? said Julia G. Ko, Founder of CreditCare Technology. ?We have been excited to make digital financial products open to a broader range of populations. Increased financial access accelerates GDP around an extraordinary 14% in EMs. By helping drive economic development, we improve the lives of women and by proxy, their own families.?

About CreditCare Technology:
Creditcare Technology expands access for 450+ million and provides digital financial identities in vital emerging economies. They're trying to solve the issue of financial exclusion by digitizing valuable analog customer data and developing a 360-degree profile of these customers. CreditCare is a non-depository bank in emerging markets. They act as a direct lender and there is no intermediary and the client experience is 100% online. Although majority find the physical location for the disbursement and repayments.
To learn more please visit www.creditcaretech.com
For media inquiries please contact Shar Tolentino, [email protected]
Facebook: @CreditCarePH, @CreditCareNG, @CreditCareVN
Company Name: Creditcare Technology
Company Email: [email protected]
City: SAN FRANCISCO BAY AREA, California, and Manila, Philippines
Country: USA
Website: https://creditcaretech.com/