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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.