Netbank facilitates motorbike lending to promote post-COVID recovery
Updated: Oct 7, 2021
In January 2021, we partnered with GMS Global Mobility Service to offer financial service to low-cost drivers in Manila, Philippines.
Global Mobility Service is an innovative alternative lender, providing loans to drivers of motorbike tri-shaws (low cost public transport) in Manila, Cebu and Davao. Loan repayment is assured by attaching an immobilisation / location device to the motorbike. Following COVID shut-downs, few lenders were willing to lend to GMS.
Netbank conducted detailed risk assessment and identified lower risk groups it was willing to offer loans to, enabling GMS to re-start lending.