UnaFinancial launches personal loan app UnaCash in the Philippines

22 September 2021

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UnaFinancial, a global fintech holding, rolls out the mobile application UnaCash to offer a seamless experience of getting a cash loan without leaving home or work. This application laid the groundwork of the digital bank UnaBank in the Philippines.

After 7 years of profitable expansion in Asia and Europe, UnaFinancial continues to grow its business in the Philippines with the new product offering personal loans, UnaCash. The new service lets customers get a loan online and transfer the amount to any open bank account without leaving home. Previously, in December 2020, the company launched the service UnaPay in the Philippines, offering two new products : the “Buy Now, Pay Later” payment option and salary-linked loans. UnaCash, the latest business unit of the holding, is designed to address the customers’ financial needs in a convenient and reliable way.

With UnaCash, users can obtain a credit online and transfer it to an account opened at any bank. Customers have the option to borrow up to USD 600 for the period of 1 to 6 months. The maximum loan amount will be increased to USD 2,000 in the foreseeable future. Customers can repay the loans online or offline once in two weeks through one of the partner banks or a partner outlet.

At present, UnaCash has partnered with the 6 biggest banks in the Philippines. Favoring progress towards improved conditions, UnaCash will soon start accepting online repayments from any bank account and launch recurring payments with special privileges for its clients.

“We see the great market potential in the Philippines. At present, 63.3% of Filipinos have a mobile phone. As of May 2021, 80.2% of Filipino adult registered Internet users have already purchased something online. This is a highly engaged mobile audience with rapidly growing e-commerce in the region. However, there is still a significant number of customers in the region without solid credit history, resulting in many people being unbanked. In 2019, 71% of the population did not have a personal bank account, and about 15% were underbanked. By emphasizing customer experience, we aim to provide a better financial infrastructure. Integrating all our services into UnaBank will enable us to create an efficient ecosystem and deliver even better value to our customers.”

Chief Executive Officer, UnaFinancial

Sergey Sedov