GoBear selects AsiaKredit to roll out lending services

GoBear will introduce ‘lending-as-a-service’ to its network of more than 100 partners, helping them offer loans to underserved consumers in Southeast Asia and Hong Kong. GoBear’s customers will be able to use the direct consumer lending service through AsiaKredit’s Pera247, a consumer lending app in the Philippines, according to techinasia.com.

According to a study by Bain & Company, access to credit remains a challenge for many in Southeast Asia, with more than 70% of the population – about 296 million people – still underbanked or unbanked.

It will become increasingly important to provide consumers with access to credit, as economic growth in developing countries may decline in 2020 given the Covid-19 pandemic, as related by GoBear staff.