August 26, 2025 | Manila, Philippines – Lendsqr, the global Lending-as-a-Service (LaaS) provider, is now offering its affordable digital lending platform in the Philippines, equipping local lenders; from cooperatives and microfinance institutions to emerging fintechs with the tools needed to extend formal credit to underserved communities.
As of 2024, only 12% of Filipino adults borrowed from formal financial channels, while a majority, about 72% relied on informal sources like friends or moneylenders. About 50% of adults have any formal financial account (such as a bank or mobile wallet), which is well below regional norms.
“Credit access shouldn’t depend on geography or income,” said Adedeji Olowe, CEO of Lendsqr. “By bringing cost-effective lending infrastructure to the Philippines, we’re unlocking opportunities for community banks or rural cooperatives to serve clients from urban Metro Manila to distant provinces without massive upfront tech costs.”
What Lendsqr brings to the table:
- A digital-first platform to design loan products, onboard customers via mobile or web, and deliver instant credit scoring.
- Easy integration with payment systems, identity verification, and the Philippines’ centralized credit information ecosystem, enabling data-driven decision making and reduced risk exposure.
- Tools configurable for both online and low-connectivity environments, ensuring broad reach across both digital and underserved regions.
Why it matters for Filipino lenders
Many local lenders in the Philippines face operational difficulties, manual underwriting, and high technology costs especially when attempting to serve regions outside major urban hubs. Lendsqr addresses these challenges by delivering enterprise-grade lending infrastructure at affordable rates, allowing lenders to scale and serve more clients while staying compliant.
“This isn’t just lightweight software,” added Olowe. “It’s the same platform used by leading fintechs around the world, now adapted to be affordable and accessible for institutions of every size in the Philippines.”
About Lendsqr
Lendsqr is a global Lending-as-a-Service (Laa) company powering digital lending for banks, fintechs, cooperatives, and non-profits. With office operations in the US, UK, Nigeria, and Trinidad, the company supports both online and offline lending designed to serve diverse markets with varying digital infrastructure. Its platform empowers lenders to build loan products, onboard clients, automate credit decisions, and manage repayments all with quick setup and a free trial.
Lenders in the Philippines can sign up today for free at lendsqr.com and begin offering digital loans immediately. For more information, contact marketing@lendsqr.com.
