MAKATI CITY – Local non-bank financial services provider, P.J. Lhuillier, Inc. (PJLI), parent company of Cebuana Lhuillier, formally inked a partnership deal with financial technology (fintech) company Satoshi Citadel Industries (SCI) Ventures, Inc in its bid to enter the digital financial services market.
The partnership agreement, signed by PJLI president and CEO Jean Henri D. Lhuillier, Cebuana Lhuillier Digital Sales Group Assistant Vice President James Robert D. Afzelius, SCI Venures, Inc. CEO and Co-founder John T. Bailon, and SCI Ventures, Inc. Chief Community Officer and Co-founder Miguel C. Cuneta, became formal in ceremonies held at the Common Ground at 8 Rockwell on Thursday.
With the influx of foreign digital payment giants and local start-ups entering the Philippine fintech market, a digital transformation is a natural progression for Cebuana Lhuillier as it is already serving millions of Filipinos with microloans, microinsurance, and local and international money transfers, Lhuillier said.
He expressed his excitement over the revolutionary advancements that the company has been seeing in terms of financial technology, recognizing its game changing benefits.
Fintech has allowed for the seamless facilitation of payments between buyers and sellers as well as ensuring money transfers are sent securely to intended recipients either for business or for personal purposes, he explained.
The digital transformation will not only better serve clients "who we credit for our company’s legacy and longevity but will also help widen the firm's reach to continue serving the un-served and underserved communities by enabling them to transition from subsistence living to more sustainable economic conditions."
"By improving our services and providing them with more affordable, more simplified, and more efficient financial access to put more money in their pockets or to allow their small business to grow,” Lhuillier added.
Lhuillier expressed confidence that their acceptance of fintech will allow the company to come closer to their 30-year vision. (PNA)