Home Credit Philippines (HCPH), the country’s leading consumer finance company, was named the Finance Company of the Year-Philippines at the 2024 Asian Banking & Finance (ABF) Retail Banking Awards. The recognition honors Home Credit's unwavering commitment to financial inclusion, responsible lending, and digital financial innovation in the country as it reaches a decade of operations as the financial ally of Filipinos.

“Being named the ABF Finance Company of the Year—Philippines reinforces our mission to empower Filipinos to live more rewarding lives by making credit opportunities more accessible. We understand that financial inclusion is crucial not just for the lives of our customers but also for the country’s economic growth and development, and we are proud to play a part not only in driving financial inclusion but equally in shaping the consumer finance industry.” Sheila Paul, HCPH Chief Marketing Officer, said.

Held at the Marina Bay Sands Expo & Convention Centre in Singapore, HCPH was represented by Jasper Sadiang-abay, HCPH Head of Campaign Marketing; Floyd Macuha, HCPH Head of Value-added Services; and Ma. Lourdes Michelle Karunungan, HCPH Head of Enterprise Risk Management, in the event where HCPH was honored as the Finance Company of the Year-Philippines. The company was recognized among the industry's champions for its innovation, dedication, and exceptional customer service across Asia.

Considered the foremost awards program for the banking and finance industry in Asia, the ABF Retail Banking Awards aims to acknowledge and honor outstanding entities reshaping the retail banking landscape. Now in its 20th year, the awards program enables retail banks to highlight their innovative solutions, retail products, digital banking breakthroughs, and exceptional customer experiences that have redefined industry standards.

A distinguished panel of judges evaluated entries through a rigorous selection process, ensuring that only the most deserving institutions were recognized. This year's event also marked the largest-ever awards dinner in the history of the ABF Awards, featuring the highest number of nominations since the awards' inception.

Home Credit Philippines has established itself as a leader in consumer finance, serving over 10 million customers over the past decade. As of May 2024, HCPH has grown its presence to over 15,000 stores nationwide, financing over 80 commodities.

Recognizing the substantial number of Filipinos with little to no access to credit, HCPH has diligently worked on expanding its sales network, going beyond the metro, and establishing its presence in 75 out of 84 provinces in the country. This allowed the company to reach more communities, ensuring that financial solutions are accessible to those who need them most, wherever they are.

The company leverages 0% installment deals, flexible payment terms, and its expansive network of partner brands and retail stores across the Philippines. Since 2013, it has financed over 23 million loan transactions, amounting to over P320 billion in total disbursed loans.

Additionally, HCPH has continuously expanded its product portfolio to cater to diverse financial needs, empowering Filipinos with various options to meet their financing requirements. Home Credit offers customers product installments, cash loans, and credit cards. It also provides a virtual credit called Qwarta and coverage plans called Home Credit Protect.

A cornerstone of Home Credit's approach is responsible lending. Flexible repayment options, including the ability to adjust due dates and take payment holidays, give customers the flexibility to manage their financial obligations. In cases of delinquencies, HCPH takes a proactive approach by providing long-term solutions to borrowers, helping individuals overcome temporary setbacks, and fostering a healthy and sustainable borrower-lender relationship.

By leveraging technology and embracing digital channels, Home Credit has successfully transformed the customer experience, leading to significant growth and enhanced customer engagement. The MyHomeCredit app is the central hub for customers to access services digitally.

The app provides comprehensive information on retailers, available products, and installment plans, helping retailers, many of which are MSMEs, grow their businesses. Customers can browse products, compare prices, and check their loan eligibility through the app's marketplace, further promoting digital inclusion.

In support of the government’s direction to shift to digital payments, Home Credit's app features over 400 merchants, enabling customers to settle bills and buy loads from the comfort of their homes. This digital transformation underscores Home Credit's commitment to innovation and its role in creating a more accessible financial landscape.