AND Global’s subsidiary, AND Financing Corporation (AFC), has entered into a strategic partnership with Japan’s Marubeni Corporation and Premium Group Co., Ltd. to enhance its digital lending platform, etomo, in the Philippines.
The collaboration is aimed at expanding financial inclusion by providing accessible and innovative financial solutions to underserved Filipinos.
The partnership combines the fintech expertise of AND Global, which is headquartered in Singapore with its technology base in Mongolia, with the business networks and consumer finance experience of Marubeni and Premium Group.
Together, they will work to strengthen etomo’s position in the rapidly evolving Philippine consumer finance market.
Marubeni and Premium Group have made significant capital investments into AFC, which will be used to expand etomo’s services and reach.
The platform currently offers term loans and plans to introduce a revolving loan option that provides greater flexibility for borrowers.
These loans, which require no collateral, are designed to meet the financial needs of salaried workers and their families, covering expenses such as medical bills, tuition fees, and utility payments.
Etomo’s digital platform, powered by advanced data analytics, machine learning, and artificial intelligence, enables users to access financial products via smartphone, ensuring a fully digital application process with quick turnaround times.
The approach is particularly relevant in a country where a significant portion of the population remains unbanked, with limited access to traditional financial services.
Khos-Erdene Baatarkhuu, CEO of AND Global, highlighted the importance of the partnership: “etomo’s vision as a company is to become an essential partner to Filipino society by providing innovative financial products and services. We are delighted with the strategic alliance with Marubeni Corporation and Premium Group as our combined expertise will help us to continue to deliver high-quality and top-of-the-line financial services.”
A recent survey by Statista indicates that 70% of Filipinos have used apps with built-in finance functions, with 83% citing convenience as the primary reason.
Etomo’s competitive rates and user-friendly digital interface are designed to cater to this growing trend, making financial services more accessible to those who need them most.
The partnership with Marubeni and Premium Group is expected to significantly boost etomo’s presence in the Philippines, expand its customer base, and further develop cutting-edge digital financial services aimed at promoting financial inclusion across the country.
