Cashalo Mobile App Provides Financial Independence to Filipinos

Oriente Express, a JG Summit Holdings Inc. subsidiary,  has recently launched a new mobile application that will provide on-demand lending and other personalized financial services to millions of unbanked and underbanked Filipino consumers and MSMEs. As a financial mobile app, Cashalo provides consumers the access to multiple purposed-based financing options such as small cash loans and consumer goods financing services.

The app ensures 24/7 service, offering the lowest interest rates in the market at 3.95% and real time credit scoring. Leveraging the Fintech industry in the country, Cashalo also offers fast, paperless customer approval in as fast as 10 minutes. Just a few months ago, it initially rolled out a beta version to teach and empower Filipinos in handling their finances.

It has three revolutionary major features–Cashaloan, CashaQuick, and Cashacart–that gives secured credit scoring alternatives by using mobile technology. Cashaloan let the users borrow money any time for tuition fees, household expenses, specific consumer goods, emergencies, or to start and grow their small businesses via Cashalo’s mobile app. It also allows them to keep track of their loan application status and repayment schedule.  Meanwhile, CashaQuick allows consumers to access a loan amount as small as PHP 1,500, with just one valid ID. The offline-to-offline (O2O) consumer financing product Cashacart, however, has been in pilot since August, enables consumers to purchase multiple products across their 250 partners without a credit card. Among these brands are Oppo, Cherry Mobile, Memoxpress, Robinsons Appliances and Robinsons Department stores.

Present in the event are Cashalo general manager Hamilton Angluben with Oriente co-founder Geoffrey Prentice, JG Summit Holdings Inc. president and CEO Lance Gokongwei, and  Bangko Sentral ng Pilipinas’ Inclusive Finance Advocacy Office acting deputy director Joyce Suficiencia.

“Cashalo believes in purpose-based lending and has refined its suite of innovative products based on feedback from tens of thousands of consumers,” said Angluben. “We’re excited to roll-out the Philippines’ first-ever, digital basket finance solution CashaCart in the Philippines and allow more Filipinos to elevate their financial well-being,” said Hamilton Angluben, general manager of Cashalo.

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