SINGAPORE - Media OutReach - 6 June 2019 - Cashwagon, the rapidly scaling fintech company for South-East Asia's underbanked, today announced that it has clinched the Digital Award for Financial Services by Singapore Business Review Technology Excellence Awards for its effective usage of new technologies to bring financial access and inclusivity to its consumers.
Recognising leading companies in technology innovation, the Technology Excellence Awards lauds outstanding companies that have pioneered ground-breaking IT products and solutions and implemented truly innovative technology initiatives that have made an impact in their business.
Cashwagon's award is a recognition of its commitment to South-East Asia's underbanked. The fintech company developed a platform that provides access to competitive consumer finance products to the 80% of South-East Asians who are underserved by traditional financial institutions. The products are offered by Cashwagon's credit partners who are duly licensed according to applicable laws. The company leverages fintech on its platform, such as AI and Big Data, to enable easy access to consumer financing. It simplifies the complex approval procedures by offering a quick turnaround time of just a few minutes from application to credit.
While Cashwagon is headquartered in Singapore where the founder and the management team are based in, the company operates outside of Singapore in five South-East Asian countries: Indonesia, Philippines, Sri Lanka, Vietnam, Malaysia and is expanding into India in the second half of 2019.
Since launch in 2017 till date, Cashwagon's partners have processed close to 2,300,000 loans valued at US$193,000,000 to near 1 million unique retail consumers through Cashwagon developed platform. A mobile application developed by Cashwagon was launched in all countries of operation to provide a seamless user experience and it has since garnered over 1.5 million downloads to date.
Mr Maxim Chernuschenko, CEO and Founder of Cashwagon, said: "We view Cashwagon as a progressive fintech company that builds digital bridges which outperforms traditional finance companies and that connects people with the financial services they've been looking for. We believe that when people have easy access to finance, families and communities are healthier, happier and better positioned to succeed."
For more information, kindly refer to this link: