Take your Christmas celebrations to the next level with Digido’s Ho-ho-holiday Extravaganza raffle promo

Tweet

Prizes include PHP 30,000 cash, SM Gift Passes and Lazada Gift Cards.

Multi-awarded digital lending platform Digido is pleased to announce its Ho-ho-holiday Extravaganza raffle promo, offering its borrowers the opportunity to take their Christmas celebrations to the next level.

Prizes consist of SM Gift Passes, Lazada Gift Cards and PHP 30,000 cash for one winner.

First-time or repeat clients who successfully apply for a new loan from November 14 to December 11, 2024 are eligible for the festive promotion.

The winners of the giveaway will be announced on Digido’s official Facebook page (https://www.facebook.com/digidoph/) using the clients’ Lifetime IDs.

Digido offers a First Loan For Free service, where first-time borrowers can avail up to PHP 4,000 with 0% interest and a standard Personal Loan up to PHP 25,000 for repeat clients. It can be accessed through its official site digido.ph, its apps in Google Play and the iOS App Store, as well as Lazada Loans.

Commenting on the promotion, Digido business development manager Rose Arreco said: “It’s no secret that Filipinos are big on the significance of Christmas and festive celebrations. Through this promotion, we wanted to give back to our clients by helping during the holiday rush and have a role in their Noche Buenas, get-togethers and gift-giving events. We are incredibly grateful to them for trusting our services this year and are eager to remain their financial partner in the years to come.”

Services under the Digido platform are financed by Digido Finance Corp. with SEC Registration No. 202003056 and Certificate of Authority No. 1272.

Digido’s trusted services have been lauded by the Global Retail Banking Innovation Awards, International Finance Awards, World Business Outlook Awards, International Business Magazine Awards, Pan Finance Awards, The Global Economics Awards, the Global Banking & Finance Review and the Global Financial Market Review.

ANALYSIS: Filipinos spent 42 years’ worth of time using digital lending apps in 2023

Tweet

The average user of digital lending apps spent approximately 14 minutes and seven seconds per month in 2023.

About 1.3 billion seconds — equivalent to 42 years — were spent by persons in using digital lending applications in the Philippines in 2023, according to new analysis from consumer credit service Digido.

An examination of 70 digital lending applications duly-registered to operate in the country, including Digido, reveal that 63.4% of that time was spent on platforms offering personal loans, followed by ‘point-of-sale’ and secured loans at 17.5%, ‘buy now, pay later’ (BNPL) services at 16.6% and installment loans at 2.5%. 

Activity seen in the 70 apps increased by 37% when comparing it to activity in 2022.

The average user of digital lending apps spent approximately 14 minutes and seven seconds per month in 2023 while the average duration of a user’s session was 54 seconds.

The total number of downloads of digital lending apps reached 89.66 million units in 2023, up 52% a year earlier (or +30.81 million units), with unique users reaching 47.46 million (+64% a year earlier or +18.60 million people). Active users, meanwhile, reached 7.7 million people (+25% a year earlier or +1.55 million people) in the same comparative period.

Commenting on the analysis, Digido business development manager Rose Arreco said: “Duly-registered digital lending applications continue to be viewed as trusted financial partners for persons in need of accessible formal credit, especially the underserved market. The increased use of apps offering personal loans also affirm Filipinos’ growing preference for digital channels and flexibility when utilizing credit.”

Digido expects Filipinos’ interest in digital lending to remain very high and stable due to further collaboration within the fintech industry to make its services even more accessible.

“The high percentage of Filipinos with limited access to traditional financial services, combined with the growing demand for formal credit options in the current macroeconomic context, led to more consumers turning to various lending options, especially ones offering personal loans. Such platforms are reaching more low-income segments of the population through new technologies or partnerships with banks,” Arreco added.

An earlier commissioned survey by Digido published earlier this year revealed that personal loans were the most popular formal credit option, with 54% of respondents having one in 2023 due to its flexibility and variety of use while BNPL was the second most popular type of formal loan at 12%.

Digido wins 11 awards, including two ‘Best’ accolades from Global Banking & Finance Review

Tweet

Digido, multi-awarded consumer finance company has ended the first three months of the year with 11 award recognitions from four esteemed global finance and business publications.

The digital lending service was named by the Global Banking & Finance Awards® as the Philippines’ “Best New Online Lending Services” for the second year in a row, as well as the country’s “Best New Fintech Company”.

Digido bagged a trio of wins from the World Economic Magazine Awards, winning in the “Best Customer Service Company For Finance Philippines 2024”, “Best Personal Loans Provider Philippines 2024” and “Best New Online Lending Services Philippines 2024” categories.

The Global Financial Market Review named the platform the “Best Digital Lending App in the Philippines” while the Gazet International Awards recognized Digido in five categories: “Best Digital Lending Firm Philippines 2024”, “Most Customer-Friendly Financial Solutions Philippines 2024”, “Most Innovative Digital Lending App Philippines 2024”, “Best Digital Loan App Philippines 2024”, and “Best Digital Lending Platform Philippines 2024”.

Earlier, Digido announced that it has served over one million Filipinos through its safe, reliable and inclusive digital lending services.

Commenting on the 11 awards, Digido business development manager Rose Arreco said: “We recognize the unprecedented nature of this series of recognitions from these prestigious finance and business publications and feel incredibly humbled. We at Digido have been striving to ensure we remain a trusted financial partner for the Philippines’ underserved, and these awards are stark reminders to do so with the consumer at the forefront.”

An earlier commissioned survey by Digido revealed that personal loans were the most popular formal credit option, with 54% of respondents having one in 2023 due to its flexibility and variety of use.

Digido offers a First Loan For Free service, where first-time borrowers can avail up to PHP 4,000 with 0% interest and a standard Personal Loan up to PHP 25,000 for repeat clients. It can be accessed through its official site digido.ph, its apps in Google Play and the iOS App Store, and Lazada Loans.