Venio’s goal is to elevate unbanked folks into the monetary system, assist them to attain monetary self-discipline and a credit score footprint in an effort to open up their entry to monetary providers.
In accordance with the newest report from the World Bank Group, 1.7 billion adults are unbanked globally, a determine approaching one fourth of the worldwide inhabitants, with most of those circumstances coming from rising markets.
Within the Philippines alone 54 million adults are unbanked, which is over 81% of customers within the nation. Venio addresses this world problem. In accordance with the official press launch, receiving approval for Venio’s product doesn’t require collateral and affords its customers speedy entry to small or nano loans beginning at USD 1 – USD 5.
Venio’s financing and redemption is out there by way of a community of native and nationwide retailers and repair suppliers working throughout retail, grocery, healthcare, transportation, leisure, and leisure. The Venio community contains world and native manufacturers, in addition to the Philippines’ Sari-Sari comfort shops which have partnered with Venio to supply credit score services to prospects.