The platform’s growing popularity is a reflection of a larger trend where digital channels are the preferred means for Filipinos to access modern financial services, including formal credit options.
The multiplely honored consumer finance firm Digido is pleased to announce that it has reached an important milestone: over a million Filipinos have benefited from its inclusive, dependable, and safe digital loan services.
With a platform that provides a quick and easy way for people without access to traditional financial institutions to get cash loans, Digido has established itself as a reliable financial partner for the underprivileged in the Philippines.
Simultaneously, Digido’s increasing renown is indicative of a wider pattern in which Filipinos prefer using digital channels to obtain contemporary financial services, such as formal credit choices.
With Digido’s First Loan For Free program, first-time borrowers can obtain a normal personal loan up to PHP 25,000 for returning customers and up to PHP 4,000 with no interest for first-time borrowers. It is available via Lazada Loans, its apps on Google Play and the iOS App Store, and its official website, digido.ph.
Digido was recognized with 13 awards in 2023, including ones from The Digital Banker’s Global Retail Banking Innovation Awards, Pan Finance and the Global Banking & Finance Review.
“We at Digido are incredibly grateful for the trust that Filipinos have given to us. We view this milestone as both an achievement and challenge, spurring us further to meaningfully contribute to the country’s digital transformation through increased access to formal credit,” said Rose Arreco, business development manager of Digido.
2023 saw Digido experience 23% growth in total loans disbursed compared to 2022. 75.4% of the loans disbursed in 2023 were from repeat borrowers, indicating considerable brand loyalty.
According to a recently published commissioned survey by Digido, personal loans will remain the most often used formal credit option in 2023 across all demographic groups and geographic locations. Eight out of ten Filipinos reported having easier access to formal loan choices last year.
“We are firm in our mission to ensure every hard-working Filipino should have access to convenient and secure financial tools. As we endeavor to celebrate more milestones in the future, we will do so by ensuring we strive for innovation and find creative means to delight even more customers,” Arreco added
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