The country’s one of the licensed and trusted financial companies, Tala, continues to be listed on the global media house Forbes Fintech 50, for its impactful service and innovation as a fintech company for nine years.
The Fintech 50 is an annual list highlighting top businesses that are transforming finance by improving the cost, efficiency, and access of financial services through technology.
“We’re honored and grateful that Tala is included once again in the Forbes Fintech 50 list. This is a great way to mark our 11th year of serving the global majority by addressing the gaps of financial inclusion through our services,” said Moritz Gastl, General Manager of Tala Philippines.
The global recognition also came in time for the eighth anniversary of Tala Philippines.
Since 2017, it has achieved several milestones in fulfilling its mission for the financially underserved, such as forging a landmark loan channeling partnership worth P2.75 billion with Maya Bank in the past year.
The partnership has helped broaden and improve Tala’s services, ensuring millions more Filipinos get access to credit.
Exercising leadership in the financial landscape, Tala was one of the sponsors in the publication of the Digital Lending Report by the FintechAlliance PH, which was unveiled during the 2024 Singapore Fintech Festival.
Tala is also one of the founding members of the Consumer Lending Association of the Philippines, signifying its commitment to employing only the best lending practices in its operations.
The company has taken great strides in extending its impact while growing exponentially as one of the pioneering online credit providers in the Philippines.
In the Philippines, Tala has recorded the highest number of new borrowers since the pandemic in 2024.
To date, it has a total of 3.6 million customers in the country, with over 23.6 million loans totaling P113.6 billion disbursed to customers.
Tala is able to positively impact their financial situation by enabling them to better manage their budget and seek additional sources of income.
The continued loyalty of Filipino customers to Tala’s financial services is reflected in its high customer repeat rate, which stands at 94 percent.
Three out of four customers also share the sentiment that Tala cares about their financial wellbeing.
May, a long-time Tala customer, initially applied for a loan to pay for utilities but eventually, she was able to grow her credit limit, which allowed her to start a food business. “Tala helped me a lot, that’s why I consider it my ‘buddy.’ I really felt the trust that Tala had initially given me, and we still continue to trust each other to this day,” she added.
Tala also promotes the importance of financial literacy to its customers. Through TALAkayan with Salve Duplito, a series of workshops catering to various sectors of the Philippines, participants were taught the basics of personal finance and money management, equipping them with helpful tools they can use in their financial journey.
“Our vision for Tala this year is to grow our customer base in the Philippines to 30 million, reaching new users from more regions while constantly improving our services for our existing customers,” said Gastl. “As the trusted financial partner of the global majority, we want to emphasize how financial services like credit can be a catalyst for change and long-term growth.”