Philippine rural bank Netbank Inc. and fintech lending application JuanHand have announced a strategic partnership today. The partnership aims to extend financial services, particularly business loans, to unbanked and underserved communities across the nation.

This collaboration between the two fintech firms seeks to empower Filipinos. They want to provide innovative lending solutions tailored to their specific personal and business financing needs.

Leveraging Netbank’s capabilities in embedded finance is key to the initiative.

“Through embedded finance, we’re enabling JuanHand to better serve more underserved Filipinos,” stated Amiel de Sotto, Head of Lenders at Netbank.

He elaborated that Netbank aims to “empower partners like JuanHand to scale faster and deliver financial services directly to those who need them the most,” effectively broadening the reach of accessible credit.

JuanHand, operated by WeFund Lending Corp., brings significant scale and experience to the partnership. The app has disbursed over PHP 40 billion (approximately GBP £560 million based on typical exchange rates, though the originally used USD $700 million) in loans and boasts a user base exceeding 12 million.

Francisco Mauricio, President and CEO of WeFund Lending Corp., welcomed the collaboration.

“We are delighted that Netbank chose JuanHand to be its lending partner,” he said. “This partnership will benefit millions of Filipinos and provide financial assistance anytime and anywhere they need it. With Netbank, we will continue to break through boundaries and serve every Juan without limits.”

Together, Netbank and JuanHand aim to bridge financial gaps through this partnership.

It aligns with JuanHand’s mission to be a trusted financial partner offering accessible, educational, and reliable support nationwide, underscored by a commitment to financial literacy and data security for its users.

Featured image credit: Edited from Freepik.