JuanHand reports disbursing over PHP 55 billion in nano-loans. The company states that its AI-powered lending platform has assisted over 2.5 million first-time borrowers, supporting efforts to bridge financial access gaps in the Philippines.

The fintech firm indicates it uses a proprietary AI engine to assess creditworthiness based on alternative data. This engine was developed through its experience in high-volume fintech markets. This system can grant loan approval within minutes with just one valid ID.

JuanHand’s AI engine automates various stages of the lending process, from risk assessment and fraud detection to customer onboarding and credit scoring. This approach allows the firm to provide flexible financing to users without formal credit histories.

JuanHand envisions assisting its users in progressing from nano-loans to more substantial, formal bank credit. Borrowers who demonstrate consistent repayment behaviour may receive higher loan limits and improved terms over time. This potentially offers them a route into the mainstream financial system.

To expand its reach, JuanHand has collaborated with several traditional and digital banks, including Maya Bank, Netbank, and Security Bank. These partnerships facilitate funding and customer onboarding through API-based integration, which aims to deepen the company’s role in financial inclusion.

The company also incorporates explainability tools into its AI system, aligning with global best practices, to help ensure that automated decisions are transparent and unbiased. It adheres to international standards regarding data privacy and algorithmic accountability.

JuanHand continues to diversify its offerings beyond the sub-prime segment. The company now extends services to semi-prime and prime borrowers who might still encounter obstacles in accessing credit via traditional channels.

Featured image: Edited by Fintech News, based on images by BillionPhotos via Freepik and JuanHand.