Consumer lending company, SB Finance Company Inc. has signed a strategic partnership with OneConnect Financial Technology Co., Ltd. (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions and an associate of Ping An Insurance (Group) Company of China, Ltd., to provide Filipinos with greater accessibility to credit and better customer experience in an effort to promote financial inclusion among the masses in the Philippines, where approximately 65 per cent of the population remain unbanked[1].

Through the partnership, OneConnect will help SB Finance develop an end-to-end omnichannel digital finance platform using OneConnect’s artificial intelligence (AI) and electronic Know-Your-Customer (eKYC) technologies to digitalise loan application, credit-decisioning, fund disbursement and payment acceptance, as well as to mitigate risk exposure while enabling SB Finance to scale their operations, enhance their service capability and widen their reach to serve more Filipinos. The automated and cloud-based platform will be accessible through various platforms such as mobile, web and Agent App. API connectivity accessible to staff, merchants, dealers and customers will also be enhanced.

Read more