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SUNDAY, JANUARY 28, 2018 Riera U. Mallari, Editor rumallari@thestandard.com.ph
TECH & Gadgets
FINTECH FOR THOSE WHO NEED IT MOST By Peter Paul Duran
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OU may have seen their sales people in malls, or heard about their “no credit card needed” 0% interest promos from a friend. Or you may well be one of the two million Filipinos who are customers of Home Credit, a European finance technology (fintech) company that has grown in popularity since arriving in the country in 2013. This was very evident last year, as Home Credit doubled its customer count in the country from one to two million in just six months while expanding its presence nationwide. The company is now present in over 3,000 stores, including the biggest malls, throughout the country.
Addressing basic needs
The reason behind their success? For HCPH’s CEO Annica Witschard, it’s more than just allowing more Filipinos to get the latest gadgets at 0% interest installments; it’s about using technology to address peoples’ basic needs, especially their access to financial tools. “As exciting a time as it is for the Philippines in terms of economic growth, we also know that there are still challenges that remain especially when you talk about financial inclusion,” said Ms. Witschard, a banking and fintech expert who hails from Sweden. “The Bangko Sentral has reported that 86% of Filipino households don’t have savings accounts. And because they are unbanked, or have no prior credit history, it’s much harder for them to avail of loans and other useful financial tools. This is where Home Credit comes in.”
Bigger demand than ever
HCPH’s chief executive explains that unlike many“traditional”financial institutions, Home Credit is able to provide consumer loans faster and with fewer requirements, for a greater number of people—including firsttime borrowers. And the demand for the service is bigger than ever. “With Home Credit, now you can simply walk into a store, pick the item you need, apply for the loan right in
Home Credit PH’s CEO Annica Witschard: Our two million customers deserve nothing less.
the store using just two valid IDs, get the result of the application in twenty minutes, and bring home the good. And the best part is that majority of our products are zero interest,” she says. According to Ms. Witschard, HCPH is able to dramatically speed up and simplify the loan process through technology. “It’s all about data. As a fintech company, we gather as much information as we can from as many sources as we can. This helps us approve more loans for more people at faster speeds, while managing risk.”
leading stores and electronics brands, including the biggest smartphone companies, and we work together to help more people afford things that matter most to them,” she says. And while smartphones and tablets—thanks to the country’s huge tech-savvy young working population—are among the bread-andbutter commodities being financed by Home Credit, the company has already expanded its product portfolio to include furniture, e-bikes, and other goods, with plans to expand the lineup further. “We understand that there is a Diversity is key lot of demand for this service in Ms. Witschard also cites Home a wide range of areas, so we are Credit’s massive network of partners, happy to meet this demand. For both in the retail and manufactur- us, diversity really is key. And that ing sectors, as a key driver for their means providing not just in-store success. “We are partners with all the financing, but other financial tools
such as walk-in cash loans that can help many people in times of need,” Ms. Witschard explains.
Faster, bigger, better
And while 2017 has shown to be a landmark year in the Philippines for Home Credit—which has already made its mark as a fintech giant in countries such as China, Vietnam and Indonesia—Ms. Witschard assures that the best is yet to come as the company approaches its 5th year of operations locally. “There are many exciting things in store for Home Credit’s customers. We have grown considerably in these last few years, and now we are working hard to become even bigger, faster, and better than before,” she says. “Our two million customers deserve nothing less.”
TECH-BASED EDUCATION A KEY IN TECHNOPRENEURSHIP TECHNOPRENEURS have taken center stage in the world of business, from when the first modern computers were made (think Bill Gates and Steve Jobs) to today when pushing boundaries has become a business norm (think Richard Branson and Elon Musk). In the Philippines, a number of businesses are increasingly being built in and around an intensively technological environment. And the market is all too ready to patronize homegrown tech businesses, from big firms like consumer and
enterprise technology solutions company Xurpas Inc. to startups like peer-to-peer delivery marketplace Muber. The pressure is on for technopreneurs to tap this market. “More often than not, technopreneurs are made and technopreneurship is learned. Setting up tech enterprises require more than pouring resources into a venture; there is a learning pathway that will help ensure the success of the enterprise,” said Ambassador Amable R. Aguiluz V, considered as the father of IT education in
the Philippines and founder of AMAES. Technopreneurship requires a competent educational platform that will shape and guide students in the nuances and requirements of an increasingly tech-based environment.# Fortunately, students today have educational options that would enable them to become technopreneurs straight off college. IT-based institutions like the schools under the AMA Education System (AMAES) offer different IT courses that not only equip students with technical
know-how, but also have tackle specific subject matters which can aid students become future technopreneurs. Through the years, AMAES has evolved its program offerings to include business, the arts, and other science offerings, “but these are all rooted in our expertise in IT education. Our comprehensive programs are improved further by technology,” assures Amb. Aguiluz. “Learning about the latest trends and developments in IT and technology gives students
a competitive advantage upon graduation. Our students can seek employment or be their own boss as a technopreneur. Our curriculum ensures that our students know the field they will enter and how they can better address its growing demands.” The first institution to offer IT education in the Philippines, AMAES continues to innovate their teaching methodologies and programs. To find out more about the different courses under AMAES, log on to www. amaes.edu.ph.
SMART/PLDT LENDS HAND TO ALBAY RESIDENTS AS OF today, the broadband internet services of PLDT and its wireless network Smart Communications remain operational in areas near Mt. Mayon. Its engineering and technical teams are on standby to ensure that PLDT and Smart subscribers in affected areas remain connected to the network and their loved ones. In light of possible utility issues in areas affected by volcanic activity, PLDT-Smart has set up Libreng Tawag, Charging, and Wi-Fi Stations in evacuation centers near Mt. Mayon. Affected residents, through PLDTSmart’s robust, nationwide network, can inform loved ones of their current status and coordinate eventual assistance. These charging and communication stations offer free services and can be found in the following locations: Guinobatan East Elementary School in Guinobatan; Bagumbayan Central School in Legazpi, San Isidro Elementary School in Sto. Domingo; San Jose Elementary School in Malilipot and Upper Malabog Elementary School and Albay Central School in Daraga. To help guide Albay residents through these alarming times, PLDT-Smarthas compiled disaster response and safety tips in the event of volcanic eruption, summarized in the infographic below. Make sure to keep these guidelines easily accessible, for your own safety. For regular service updates, you can check PLDT Home’s official Facebook page (www.facebook.com/PLDTHome) or follow @SmartNewsroom on Twitter.
FEATURE-PACKED XPANDER COMING TO PH GONE are the days when a vehicle’s only purpose was just to carry people from point A to point B. These days, it must also boast of a distinctive styling and technological features to make the journey safe and fun. The all new Mitsubishi XPANDER is that kind of vehicle. After taking the Indonesian market by storm during its world premiere at the GAIKINDO Indonesia International Auto Show last year, Mitsubishi Motors Philippines Corp. is pleased to announce that the Philippines will be the next country to launch this new cross multi-purpose, sport utility vehicle. With the all-new XPANDER’s distinctive styling and features that combine both functionality and an
adventurous SUV-like character, the Philippine automotive market has been eagerly waiting for the Philippine debut of this all-new model. Produced in Mitsubishi Motors Corp.’s new factory in Indonesia, the all-new XPANDER will be introduced in the country in 4 variants—starting from GLX Manual Transmission (MT), GLX Plus AutomaticTransmission (AT), GLS AT and top of the line GLS Sport AT. To commence the year with great excitement, MMPC announces the all-new XPANDER Pre-order. The MMPC began accepting reservations for the XPANDER last Jan. 24 and will do so until April 30. Customers who want to be among the first to drive home the all-new XPANDER can already place their reservation. To pre-order, simply visit the all-new
XPANDER special webpage at www. xpander.mmpc.ph, register to access the page and fill-out the pre-order form. A reservation fee of only ten thousand pesos P10,000 must be paid in your preferred Mitsubishi Motors dealership to complete the pre-order.
About the all-new XPANDER
The all-new XPANDER is powered by the 1.5L DOHC 16-valve with Mitsubishi Innovative Valve timing Electronic Control System (MIVEC) engine. It boasts of the best in class interior dimensions for a spacious cabin which can seat comfortably seven adults complemented by a generous luggage space. As for the safety features, the top variant GLS Sport is equipped with Hill Start Assist (HSA), Reinforced Impact Safety
Evolution (RISE) Body, Active Stability Control (ASC), Emergency Stop Signal (ESS) and Anti-Locking Braking System (ABS) with Electronic Brake Distribution (EBD).The exterior flaunts a unique bumper design embedded headlamps, the Mitsubishi proprietary Dynamic Shield Concept front fascia from the Montero Sport and high ground clearance that give it an SUV characteristic. The all-new XPANDER will be offered in five colors for the GLS Sport and GLS variants: Red Metallic, Titanium Gray Metallic, Sterling Silver Metallic, Quartz White Pearl and Diamond Black Mica while the GLX Plus will be available in Titanium Gray Metallic, Sterling Silver Metallic, Quartz White Pearl and Diamond Black Mica and the GLX MT will be available in Titanium Gray Metallic, Sterling Silver
Pre-order now to be the first to drive home the all-new XPANDER. To know more about the all-new XPANDER, visit www.xpander.mmpc.ph.
Metallic, Diamond Black Mica. Best value for money is what you expect from the all-new XPANDER with its indicative price tag of P900,000 for GLX MT, P990,000 GLX Plus AT, P1,050,000 for the GLS AT and
P1,100,000 for GLS Sport AT. Pre-order now to be the first to drive home the all-new XPANDER! To know more about the all-new XPANDER, visit www.xpander. mmpc.ph.