Finance company Digido announced a significant milestone, having served over one million Filipinos through its safe, reliable and inclusive digital lending services.
Digido has become a trusted financial partner for the Philippines’ underserved, with its platform designed to offer a seamless and efficient process for obtaining cash loans for persons that have limited access to traditional financial services.
Concurrently, Digido’s growing popularity is a reflection of a larger trend where digital channels are the preferred means for Filipinos to access modern financial services, including formal credit options.
Digido offers a First Loan For Free service, where first-time borrowers can avail up to PHP 4,000 with 0% interest and a standard Personal Loan up to PHP 25,000 for repeat clients. It can be accessed through its official site digido.ph, its apps in Google Play and the iOS App Store, and Lazada Loans.
Digido was recognized with 13 awards in 2023, including ones from The Digital Banker’s Global Retail Banking Innovation Awards, Pan Finance and the Global Banking & Finance Review.
“We at Digido are incredibly grateful for the trust that Filipinos have given to us. We view this milestone as both an achievement and challenge, spurring us further to meaningfully contribute to the country’s digital transformation through increased access to formal credit,” said Rose Arreco, business development manager of Digido.
2023 saw Digido experience 23% growth in total loans disbursed compared to 2022. 75.4% of the loans disbursed in 2023 were from repeat borrowers, indicating considerable brand loyalty.
Digido’s recently-released commissioned survey also revealed that personal loans were the most popular formal credit option across demographics and areas in 2023. Formal credit options have been more accessible for eight out of 10 Filipinos last year.
“We are firm in our mission to ensure every hard-working Filipino should have access to convenient and secure financial tools. As we endeavor to celebrate more milestones in the future, we will do so by ensuring we strive for innovation and find creative means to delight even more customers,” Arreco added.
