Getting a loan or becoming a lender is now said to be simpler with MoneyMatch Technology, with the company introducing peer-to-peer (P2P) lending in the country.
MoneyMatch is an online P2P lending platform developed by FinTech Global Inc. The platform is designed to benefit both lenders and borrowers, and eliminates physical boundaries in helping them achieve their financial goals. It serves as a marketplace that allows both parties to maximize their financial potential.
“MoneyMatch makes lending and borrowing easier and much more convenient. People will have the power to transact without the dealing with standard financial institutions, such as banks. With P2P lending, the borrower can enjoy much more flexible terms and, lenders are assured that their investment is secure”, Jay S. Bautista, MoneyMatch managing director, explained.
This newest online platform gives interested borrowers or lenders the opportunity to expand their financial capabilities. With MoneyMatch, people who want to start investing through lending are given a way to safely do so. While borrowers are able to start a business, get a housing loan, or a new car, and pay for their loan at terms that they can afford. This platform also democratizes financial access for more Filipinos. By making it available through the internet, users need not go to any brick and mortar institution to process their application or avail of a loan.
This effort is in line with the goal of the Bangko Sentral ng Pilipinas’ (BSP) goal to create a financial system that caters to more sectors of the society.
Interested borrowers and lenders can join by registering on the MoneyMatch website. For individuals or small and medium enterprises who are applying for a loan, MoneyMatch will notify through email if their loan is approved including detailed instructions on how to claim a loan or deposit a loan. Borrowers with approved loans can withdraw through any PBCom branches. Investors or lenders with a sufficient fund in their account can view loan applications that are up for bidding and choose which loans to fund, and bid on it. Lenders will have the option to bid for more that one loan. MoneyMatch’s entire process takes only 24-48 hours.