BIZ BUZZ: Matchmaker with a twist enters PH
Heads up, Philippines. There’s a new matchmaker in town. But with a twist.
We’re talking about FinQuest Philippines, which aims to match small and medium-sized enterprises (SMEs) with reputable and credible financial lending institutions that can help them raise the capital they need to operate and expand.
FinQuest may be new, but its founder and CEO—Jose Nograles—is a familiar name in financial circles.
Nograles made his mark as president of Philippine Deposit Insurance Corp. during the time of President Gloria Macapagal Arroyo. Prior to that, he was senior executive vice president at the Land Bank of the Philippines.
He should have been happy living the life of a retiree but has decided to dedicate his time, knowledge and expertise to bring FinQuest to life.
But to be clear, FinQuest is not a bank or a financial institution.
It acts as a marketplace platform with a streamlined process to connect borrowers and lenders registered with the Securities and Exchange Commission.
The appeal of FinQuest lies with its single-app convenience: SMEs need only submit one loan application, benefit from reduced processing times, and compare and contrast different rates and payment schedules before settling down and securing their right match and lender.
On the side of the lenders, FinQuest offers access to curated applicant profiles, reduced origination costs, and a pipeline of vetted leads.
As the country barrels down the digital and online world, the platform hopes to invite more to join their network and maybe even bring their matchmaking services to foreign shores.
