MANILA, Philippines, Sept. 9, 2019 /PRNewswire/ -- Operating on the radical notion "bank the unbanked", Mocasa, an international fintech platform, is providing lending and personalized financial services for the underserved in developing regions, thus enabling them to gain access to the digital economy.
"Bank the unbanked"
Nearly 2 billion people worldwide don't have access to formal financial services, which means they don't have savings accounts, insurance or access to a viable credit line. They are financially excluded.
"Mocasa is striving to improve this situation. We believe that every person has the opportunity to access finance to better their lives," said Robin Wong, general manager of Mocasa. "We aim to broaden financial inclusion by offering financial services and products to those who have been left out by the traditional financial system so that they can build a better future for themselves, their families, and their communities."
Mo stands for "mobile", while casa is Spanish for "home", so the name means "mobile home" as a whole, which is a reflection of the company's value. While low-income consumers find it difficult to access traditional banking services, through Mocasa's app, anyone with an Android smartphone can quickly apply for a loan, regardless of their credit history.
Responsible micro-financial services
Headquartered in Hong Kong, Mocasa launched its initial business in the Philippines and is widening its focus on building a global finance network, which will cover emerging markets in Southeast Asia, South Asia, Africa, the Middle East, and Latin America.
Currently, Mocasa offers loans of fair term and rate to individuals for personal, educational and emergency use to improve their living standards. It is also expanding the network of services, including offering funds to low-income entrepreneurs and micro and small enterprises to power their businesses to start, grow and diversify.
In serving customers, Mocasa looks forward to building long-term relationships based on warmth, trust, and responsible micro-financial services. It places special emphasis on Customer Protection: prevention of over-indebtedness, reasonable pricing, transparency in operational terms, respectful treatment, and protection of personal information.
Through insights, innovations, and investments, Mocasa is here to deliver a real difference in the finance industry: to ensure that today's digital transformation can truly benefit those underserved around the world by creating a sustainable way of getting access to funds, raising family incomes and reducing poverty.