According to the Philippine Statistics Authority, MSMEs make up over 99% of registered businesses in the country, contributing to 65.10% of the country’s total employment. While the MSME sector presents a lucrative opportunity, banks encounter several challenges in extending credit to these businesses. These challenges include the lack of robust credit history, limited financial documentation and collateral requirements.
Read the whitepaper to know how banks in the Philippines and the larger Asia Pacific can effectively service MSMEs by:
- Digital Onboarding and Loan Origination
- Leveraging Alternate Data for Informed Decision-making
- Using Open Finance for Enhanced Credit Disbursal
- Generative AI in Credit Disbursal
Bonus:
Download the whitepaper to get a FREE ‘feature checklist for a loan origination platform’.