Home Credit aims to empower 10 million Filipinos in 10th year in PH

During Home Credit’s media event. From left to right: Petr Lukosz - Chief CRM Officer, David Minol - Chief Executive Officer, Puneet Suneja - Chief Sales Officer, Shiela Paul - Chief Marketing Officer, and Zdenek Jankovsky - Executive Director and Treasurer

Home Credit Philippines (HCPH), the leading consumer finance company in the Philippines, is commencing its 10th-anniversary celebration with the objective of expanding access to credit to more Filipinos and achieving a customer base of 10 million by 2023.

As Home Credit marks its ten years of operation in the country this October, the company is continuously broadening its operations and offering customers a comprehensive range of products and services tailored to their specific needs and preferences.

With a customer base of 9.3 million at the close of 2022, Home Credit's extension of its services to various lifestyle segments and categories has been instrumental in enabling Filipinos to enjoy a more fulfilling life.

“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.

As a leading consumer finance provider, Home Credit has been at the forefront of introducing buy now, pay later (BNPL) services in the country. Over the past decade, the company has established its local roots and gained a deeper understanding of the local market. Recognizing the ever-evolving needs and demands of Filipinos in this new generation, Home Credit has extended its lifestyle offerings and finance solutions to better support them.

With a presence in 75 provinces across the country, Home Credit has expanded to over 15,000 partner stores, while simultaneously building a robust online presence through the My Home Credit App. The company has also collaborated with major brands and retailers, thereby creating a wide selection of more than 300 lifestyle commodities such as gadgets, smartphones, furniture, appliances, sports equipment, bicycles, motorcycle accessories, and much more.

From once to always

Since entering the country in 2013, Home Credit has empowered millions of Filipinos to access more financial solutions through its expanded range of product options.

Aside from product loans, the company also offers existing customers with good payment histories the opportunity to avail themselves of Cash Loan, which helps them to be more financially capable. To date, Home Credit has disbursed over 1.8 million Cash Loans to its customers, in which 90% of the contracts were signed digitally and 20% of the applications were processed through the My Home Credit App.

Home Credit boasts of having the fastest cash loan approval and disbursement in 1 minute – the best in the market. Customers can enjoy the flexibility of the Cash Loan offers ranging from Php 3,000 to Php 150,000 and repayment terms from six to 48 months.

Nurturing relationships, building protection

Home Credit believes that availing of its financing products is not the end of the customers’ journey but only the start of it. The company wants to further build meaningful relationships with its customers and be their ally in advocating proactive measures to keep themselves and their families safe and protected.

With this, Home Credit also offers solutions to give the best protection to its customers. They have the option to purchase a range of protection packages: Device Protection which can be upgraded with an extended warranty for accidental damage protection; Extra Care for flexibility in managing payments; Home Content to protect and cover home belongings from any unfortunate incidents; and an innovative Personal Payment Protection that offers unlimited telemedicine service, death and accident coverage, and medical reimbursement.

Serving customers, valuing communities

As the lifestyle partner of every Filipino, Home Credit remains steadfast in its mission of empowering Filipinos, Para sa Life. The company has focused on advocating financial literacy, which aligns with Home Credit’s thrust of championing environmental, social and governance (ESG).

Last year, Home Credit’s flagship financial literacy program Wais sa Home reached more than 20 million Filipinos across the country and has driven onsite financial literacy programs in various provinces, particularly in the communities of Pampanga, Iloilo, Guimaras, Capiz, Antique, and Aklan.

The company also commits to a greener earth with 30 million sheets of paper saved in overall transactions, an equivalent of 2,000 trees conserved due to its digitalization initiative. Aside from that, Home Credit also promotes equity by providing more substantial purchasing power for women who comprise 52% of its customer base.

Home Credit, as the market leader in the consumer finance sector, not only finds strength in numbers but in the strong connections it has made among stakeholders and consumers alike. In its 10th year in the Philippines, the company seeks to become a standard in the consumer finance industry with its commitment to innovation, customer satisfaction, and financial inclusion.

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