Lentra, an embedded AI-based finance startup from India, entered the Philippine market to transform retail and small and medium enterprise
Lentra’s bouquet of offerings specializing in retail and SME lending will boost to the financial inclusion of a growing, digitally savvy population in the country, according to Lentra country general manager for the Philippines Joel Del Valle. Lentra has an extensive banking ecosystem of more than 150 banks that focuses on commercial banking.
Del Valle said demand for retail and SME loans presents a huge opportunity for most banks in the Philippines. “With a rising youth population and favorable policies to encourage financial inclusion, Lentra’s entry into the Philippines is timely. We will enable our banking ecosystem to keep pace with digitization and to accelerate financial inclusion,” he said.
Lentra chief executive and founder D Venkatesh said the company teamed up with over 60 financial institutions to touch a significant slice of the underbanked population. “The growth in the ASEAN market is also an opportunity for the region to broaden its horizon and welcome cross-country solution providers like us,” Venkatesh said.
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