A new report from consumer credit service Digido Finance Corp. showed 2022 saw some 2 million in active users in the Philippines spending a total of 75,305 hours, or equivalent to nine years, in using digital lending (digi-lend) applications.
A new report from consumer credit service Digido Finance Corp. showed 2022 saw some 2 million in active users in the Philippines spending a total of 75,305 hours, or equivalent to nine years, in using digital lending applications.
“Our recent analysis of select digital lending services is a clear indication that responsible credit services continue to be an effective means of breaching inequality in accessing financial tools. We encourage the wider segment to continue in promoting responsible lending,” Digido Country Manager Farit Shakirov said.
In other words, one in every 30 adult Filipinos gains access to the services of 10 digital lending platforms at least once a month. Significant bursts of user login activity in 2022 occurred in March, July and November, mainly due to the positive dynamics of certain platforms working with small and medium-sized businesses, which account for approximately 36 percent of the country’s economy. Possible reasons behind these surges include ongoing promotions, favorable conditions or the launch of specialized loan products for entrepreneurs.
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