The various tech advancements of the last few years have elevated the way people live their lives, especially the way they manage their money.
Online banking and online loan applications are now the norms, reducing the need for people to go through lengthy and complicated processes just to access or stretch their cash. It’s incredible to think about, considering that around a decade ago, your options were very limited to bank loans, salary advances, or traditional debts from friends or neighbors.
Today, it’s not uncommon to hear people borrowing money through a loan app—in fact, there are many out there with competitive rates and features. The result: Consumers are now more strategic with budgeting, and the variety of options eases their financial burdens.
Using a loan app isn’t the only trend in improving financial management nowadays. Below are five modern technologies that are evolving the credit industry in the Philippines.