Monitor this situation.
Unsubscribe anytime.
[SITUATION] · [ACTIVE] · [BUSINESS]
2 clusters · 6 sources · 22 days · First seen · Last updated
SSS digital microloan program expansion
Overview
The Philippine Social Security System (SSS) has introduced digital microloan services to improve financial accessibility for its members. Initially, the SSS partnered with Rizal Commercial Banking Corporation (RCBC) to launch ‘SSS Loan Lite’ through the DiskarTech mobile app. This service allows qualified members with at least 12 monthly contributions to apply for loans between ₱1,000 and ₱20,000 with an 8% annual interest rate and repayment terms of 15 to 90 days, bypassing the need for branch visits or employer pre-approval.
Following this, the SSS expanded the availability of the SSS LoanLite program by partnering with UnionDigital Bank. This implementation also utilizes a mobile application to provide short-term financial assistance to private-sector employees without requiring traditional employer certification. SSS President and CEO Robert Joseph M. de Claro indicated that the agency intends to collaborate with three additional financial institutions to bring these digital services to more platforms.
Entities
Social Security System · Robert Joseph M. de Claro · Erwin Tulfo · UnionDigital Bank · DiskarTech
Timeline
-
4 days ago
[BUSINESS] 6 sourcesSSS launches LoanLite microloan program via UnionDigital BankThe Social Security System (SSS) has launched SSS LoanLite via the UnionDigital Bank mobile app, allowing qualified members to access digital microloans without employer certification.
-
26 days ago
[BUSINESS] 2 sourcesSSS and RCBC launch digital microloans via DiskarTech appThe SSS and RCBC have launched digital microloans via the DiskarTech app, while Philippine lawmakers push to reduce administrative barriers to financial inclusion.
Sources
business.inquirer.net · businessdiary.com.ph · cebudailynews.inquirer.net · logisticsnews.ph · mindanaotimes.com.ph · theasianaffairs.com