Ecofinance, a financial technology firm under the Dyninno Group, has commenced operations in the Philippines, marking its entry into the Southeast Asian market.
The company has introduced a new consumer brand, Honey Loan, aimed at providing accessible and transparent online financial services to local consumers.
Ecofinance, which has been active in the Philippines for over a decade through its involvement in the travel and entertainment industries, views this expansion as a strategic move to tap into the region’s growing fintech landscape.
The company plans to leverage advanced technologies, including process automation, to ensure a seamless application process and enhance user experience. Honey Loan’s offerings are tailored to meet the diverse needs of different client segments.
“We believe in the benefits Honey Loan will bring to the Philippines market, which is dynamic and fast-growing with significant demand for reliable and accessible financial services,” said Rucsandra Larisa Stanciu, Group Chief Executive Officer of Ecofinance.
“Honey Loan leverages our customer-focused technology and expertise in innovation to provide customers in the Philippines with convenient, secure, and fast access to the credit they need to achieve their financial goals,” Stanciu added.
Licensed with the Philippines Securities and Exchange Commission (SEC), Honey Loan offers financial products tailored to the specific needs of local consumers.
New customers can avail of loans ranging from PHP 1,000 to PHP 10,000, while returning customers may borrow up to PHP 30,000, with repayment terms extending up to six months.
Eligibility criteria include Philippine citizenship, age between 22 and 60, a stable income source, and a valid government-issued ID.
“Honey Loan is committed to responsible lending practices and fostering financial inclusion in the Philippines,” said Kirill Kalashnikov, General Manager of Honey Loan. “We are confident that our platform will provide Filipinos with the financial tools needed to secure financing quickly. Our customer-centric approach includes a call center staffed with live agents to support customers at every step.”
Looking ahead, Ecofinance plans to expand its reach within the Philippines, offering innovative financial solutions to a broader audience and contributing to the financial well-being of diverse communities.
Ecofinance, part of the global Dyninno Group, operates in multiple markets under various consumer brands, serving over 5 million customers worldwide. Since its establishment, the company has issued more than EUR 480 million in loans.
Business News Asia