GCash and Security Bank Partner to Expand Loan Access for Filipinos

#GCash, through its lending arm #Fuse, has partnered with Security Bank to provide more Filipinos with convenient access to a variety of loan products. This collaboration allows select GCash users to directly apply for Security Bank credit cards, and soon, home and auto loans.

 

Key Highlights of the Partnership

• Seamless Application Process: Qualified GCash users can now apply for their first Security Bank credit card directly within the GCash app. This initiative simplifies access to financial products, including credit cards, auto loans, and housing loans, in just a few steps.
• Exclusive Rewards: Applicants can unlock exclusive rewards, including Security Bank’s newest no-annual-fee credit card.

Statements from Leaders

• Tony Isidro, President and CEO of Fuse Lending: “Our partnership with Security Bank strengthens our efforts to provide innovative and accessible financial services to millions of Filipinos. By offering Security Bank’s reputable loan products on the GCash app, we provide many users with their first access to a bank loan, ensuring a seamless and inclusive experience.”
• Rahul Rasal, EVP and Retail Banking Segment Head of Security Bank: “We are excited to partner with GCash to offer valuable services to our customers. This collaboration allows us to leverage our banking expertise to reach more Filipinos, providing them with customized financial solutions through an accessible and innovative platform.”

Impact and Reach

• Wide Audience: Since its launch, credit card approvals have exceeded expectations, with GCash ads reaching a broad audience each month.
• Convenient Access: The partnership ensures a streamlined experience, allowing Filipinos to easily discover and access relevant financial solutions through the GCash Loans Marketplace.
• Commitment to Financial Inclusion: With over 328 branches and 662 ATMs nationwide, Security Bank and GCash are committed to expanding access to quality loans and retail banking products, particularly for the 44% of unbanked Filipinos.

GCash’s Achievements

• Loan Disbursement: GCash, through Fuse, has disbursed over PHP 155 billion in loans to more than 5.4 million Filipinos, including sari-sari store owners, public market vendors, and farmers.
• Mission of Financial Inclusion: GCash continues to bridge the financial gap in the country, fostering an inclusive digital economy that promotes financial freedom and wealth-building opportunities for all.

FAQs

1. What is the GCash and Security Bank partnership about?

   • The partnership aims to provide Filipinos with convenient access to a variety of loan products, including credit cards, home loans, and auto loans, directly through the GCash app.

2. How can GCash users apply for Security Bank credit cards?

   • Qualified users can apply for their first Security Bank credit card directly within the GCash app, offering a seamless and straightforward application process.

3. What exclusive rewards are available for applicants?

   • Applicants can unlock exclusive rewards, including Security Bank’s newest no-annual-fee credit card.

4. How does this partnership benefit unbanked Filipinos?

   • The collaboration aims to expand access to quality loans and retail banking products, particularly for the 44% of unbanked Filipinos, ensuring financial inclusion.

5. What has GCash achieved through its lending arm Fuse?

   • GCash has disbursed over PHP 155 billion in loans to more than 5.4 million Filipinos, including those in the grassroots sector, promoting financial empowerment and inclusion.

6. Where can I find more information about this partnership?

   • For more information, please visit www.gcash.com.