By adobo magazine
MANILA, PHILIPPINES — Premier digital challenger bank Rizal Commercial Banking Corporation (RCBC) and number one finance super app GCash are joining forces to make loans more accessible and financially inclusive to Filipinos in low-income, rural, and remote areas. The two financial behemoths are collaborating to reach the highest number of Filipinos who cannot access fair lending terms due to traditional financial credit scoring methods.
RCBC will introduce Pasado Loans, a 24/7 loan product that requires zero collateral. It will also use the digital Pasado Loan Engine to measure the creditworthiness and profiles of potential applicants. In addition to the portal, Filipinos can also apply through partner merchants or digital channels found in digital marketing engagements.
GCash will enable people to apply for Pasado Loans through the GCash app, making the application more seamless and highly convenient for Filipinos who are always on the go yet face hurdles in applying for formal loans and credit in banks and other financial institutions.
Prospective loan applicants may borrow from PHP 30,000 to PHP 500,000. They must submit their credentials through the Pasado Loan portal or partner merchants to apply for a loan. The Pasado Decision Engine will evaluate these applications, delivering results within seconds. The applicant will receive the disbursed amount through their RCBC Diskartech account upon approval. Loan payments can also be facilitated through an auto-debit arrangement in RCBC Diskartech.
As it continues to be the undisputed leading finance app in the country, GCash champions financial inclusion by offering an unparalleled suite of services, including payments, savings, and loans. With its user-centric approach and commitment to enhancing financial well-being, GCash is helping pave the way for greater financial empowerment for every Filipino wherever they are.
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