Home Credit Empowers 10 million Filipinos in its 10th year in the Philippines

Staff ni Anjie

Home Credit Empowers 10 million Filipinos in its 10th year in the Philippines

Home Credit Philippines (HCPH), the country's leading consumer financing provider, is celebrating its tenth anniversary with the goal of enabling more Filipinos access to credit and reaching 10 million clients by 2023.

Home Credit Empowers 10 million Filipinos in its 10th year in the Philippines
Home Credit Empowers 10 million Filipinos in its 10th year in the Philippines.

As the company celebrates ten years of service in the country this October, Home Credit continues to gradually expand its operations and provide consumers with a whole ecosystem of products and service alternatives adapted to their specific needs and lifestyles.

Home Credit had 9.3 million customers at the end of 2022, a solid showing. The expansion of its services to numerous lifestyle segments and categories was a significant influence in allowing Filipinos to live more satisfying lives.

"Our goal of a financially empowered Philippines comes true every year, one customer at a time. In our 10 years of service in the country, we aim to empower 10 million customers by the end of 2023 and continue to serve more Filipinos in the years to come. More than delivering innovative and accessible financial services, we celebrate the relationships we have built with our stakeholders and customers over the past decade, and this we choose to continue above and beyond," shares Home Credit Philippines' Chief Executive Officer, David Minol.

Anything, anytime, and wherever

Home Credit, a national leader in consumer lending and a pioneer of buy now, pay later (BNPL) services, has deepened its local roots and obtained a far deeper understanding of the regional market over the last ten years. To better satisfy the changing needs and desires of this new generation of Filipinos, the company saw the need to expand its lifestyle offerings and financial solutions.

See Also: Home Credit Expands Services to Other Sectors to Become Filipinos' "Lifestyle Partner."

Home Credit has actively developed its online presence through the My Home Credit App, and now has a sizable 15,000 partner stores distributed throughout 75 provinces in the country. The company has also formed relationships with the country's top brands and retailers, resulting in a diverse selection of 300+ lifestyle goods such as gadgets and telephones, appliances and furnishings, bicycle and motorbike accessories, sports gear, and a variety of other items.

Finally and forever

Since its inception in the country in 2013, Home Credit has helped millions of Filipinos to gain access to more financial solutions through its expanded product offerings.

In addition to product loans, the company offers current customers with good payment records the option of applying for Cash Loans, which improves their financial security. As of this writing, Home Credit had issued over 1.8 million Cash Loans to its customers, with 20% of applications completed using the My Home Credit App and 90% of contracts signed digitally.

According to Home Credit, the fastest cash loan approval and disbursement time on the market is one minute. Customers can benefit from the adaptability of Cash Loan packages with amounts ranging from Php 3,000 to Php 150,000 and repayment terms varying from six to 48 months.

Providing safeguards and Fostering collaboration

Obtaining one of Home Credit's financing alternatives, according to the company, is only the beginning of the process for its clients. The company wants to strengthen its relationships with its customers and support them as they encourage preventative measures to protect their families and themselves.

In addition, Home Credit offers tools to ensure that its consumers are well-protected. They can select from a number of protection packages, including Device Protection, which can be upgraded to include an extended warranty for accidental damage protection; Extra Care for payment flexibility; Home Content, which will protect and cover household possessions from any unfortunate incidents; and an innovative Personal Payment Protection, which offers unlimited telemedicine service, death and accident coverage, and medical reimbursement.

Client service and community respect

Home Credit remains committed to its goal of empowering Filipinos, Para sa Living, as every Filipino's lifestyle partner. The company's financial literacy advocacy is consistent with Home Credit's aim to promote environmental, social, and governance problems.

Last year, Home Credit's top financial literacy program Wais sa Home touched nearly 20 million Filipinos, inspiring onsite financial literacy programs in numerous provinces, particularly in the municipalities of Pampanga, Iloilo, Guimaras, Capiz, Antique, and Aklan.

The firm also aims to contribute to a better planet by saving 30 million sheets of paper from transactions in total—the equivalent of 2,000 trees. Furthermore, Home Credit promotes equity by providing women, who account for 52% of its clientele, with increased purchasing power.

Home Credit, as the market leader in consumer lending, finds strength not only in numbers but also in the solid relationships it has created with stakeholders and customers. With its commitment to innovation, customer satisfaction, and financial inclusion, the company, now in its tenth year in the Philippines, aspires to set a standard for the consumer finance industry.

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