Leading finance super app GCash ranked as the top digital lending brand in the Philippines in 2024, according to a recent study by RLR Research & Analysis.
This follows the launch of GLoan, powered by GCash’s lending arm, Fuse Lending.
The study revealed that 61% of digital lending users in the country use GLoan, surpassing 12 other financial apps.
RLR Research & Analysis, a Philippine market research and consulting firm with over 11 years of experience in quantitative research, conducted the study.
Fuse Lending President and CEO Tony Isidro attributed GLoan’s success to its commitment to providing meaningful financial services, especially for underserved Filipinos who traditional financial institutions have historically excluded.
He noted that GLoan empowers users to manage finances, build credit histories, and improve financial literacy.
“We are pleased with the RLR report, which reaffirms our commitment to expanding financial inclusion for underserved kababayans,” said Isidro. “Through GLoan, we fulfill our mission of making financial opportunities accessible for all Filipinos, especially those without access to formal lending.”
A profile of GLoan borrowers from the study shows that four out of 10 borrowers are manual laborers, including factory workers, janitors, and drivers.
Additionally, two out of 10 are housewives or househusbands. Notably, 84% of GLoan users are first-time borrowers in the formal credit system, with six out of 10 having never used digital loan services before.
The study also showed a similar proportion of GLoan users had not accessed traditional loan services from banks or the government.
GLoan has allowed these first-time borrowers to build their credit by offering them accessible, fair loans, transforming how Filipinos access formal lending services.
By providing customized financial solutions, GLoan has become the preferred choice for Filipinos seeking tailored financial assistance.
To date, Fuse Lending has disbursed PHP 155 billion to over 5.4 million unique borrowers, with a significant portion of loans going to small and medium-sized enterprises (SMEs).
This funding supports cash flow, job creation, and community development, showcasing the transformative potential of financial technology in driving economic growth in the Philippines.
“Over the last three years that we’ve been tracking the Philippine loans category, GLoan’s exponential growth signals the rising relevance of digital loans, especially among underserved markets where access to traditional loans remains challenging,” said RLR Research & Analysis Director Homer Marundan.
As the Philippines’ most trusted digital lending brand, Fuse Lending drives financial inclusion through innovative loan products, solidifying its position as a leading lending company in the country.
As GCash celebrates its 20th anniversary, it remains committed to bringing digital financial services to more Filipinos.
