The Philippine Star
November 23, 2024 | 12:00am
MANILA, Philippines — A total of P5.2 billion in consumer loans was disbursed by Skyro, one of the fastest growing financial technology (fintech) companies in the country, from its launch in the Philippines in August 2022 until September 2024. The amount reflects the company’s resolute stance to push for financial inclusion among Filipinos in remote areas of the country and to become a leading fintech industry player in the Philippines.
Skyro has achieved significant growth in loan disbursements, reflecting nearly 190-percent growth in just over two years. This impressive expansion underscores the company’s commitment to financial inclusion, allowing it to reach more communities, foster economic growth and extend essential financial services across the country.
Skyro has quickly earned a reputation for its innovative digital financial services to enable financial inclusion in the country. It is now present in over 4,500 partner merchants stores nationwide with more than 270,000 active product loan customers.
The P5.2-billion payout is also indicative of the company’s thrust to broaden its reach in many parts of the country, specifically in provincial areas:
“We are steadily expanding our reach to meet the diverse financial needs of Filipinos across the country,” explained Nasim Aliev, Skyro co-founder and co-CEO.
Currently, Skyro’s highest share of customers is in the South Luzon (Calabarzon) region but it continues to increase with the platform, gaining a steady following in the Mindanao region. “While maintaining a strong presence in urban centers, our focus is shifting toward emerging regions like Mindanao and the Visayas, where we aim to provide greater access to flexible financial solutions, empowering more communities and fostering growth in these key areas.” Aliev said.
Skyro is confident in capturing these markets by banking on the app’s simplicity, flexibility and accessibility. One of the standout features of the platform that showcases this is the Skyro Flexi – a groundbreaking solution launched in mid-2024 where customers have unmatched control over their loans, allowing them to adjust monthly payments and modify due dates directly within the app.
“By giving customers this flexibility and accessibility, Skyro is setting a new standard in digital lending as it empowers them to manage their financial commitments in a way that suits their individual needs,” Aliev said.
Moreover, Skyro offers seamless online product loans, wide network of retail partners, fast approval processes and transparent terms to build trust and convenience among customers.
Another unique feature is the recently launched Skyro Pocket, a new online credit line that allows users to shop with ease at merchants using QR Ph codes for flexible credit and seamless QR payments.
Skyro is actively developing its data sharing and data monetization within the data privacy framework. This benefits the companies with the existing customer base and also the customers, giving them a higher chance of getting their loan approved. According to Aliev, this trend is crucial for the broader financial inclusion of the underserved and unserved population.
In the coming year, Skyro aims to be even more bullish in supporting Filipinos in every integral part of their everyday lifestyle, whether they’re investing in big ticket items or purchasing their everyday essentials.
Be the first to comment