Online lending firm introduces free app

CEBU, Philippines - Online lending platform Lenndo introduces a free application to maximize its growing online clientele base.

The app is integrated with the Facebook platform to help clients connect with their social media accounts, build their trustworthiness and access real-time cash loans and finance management tips.

"In many emerging countries, it is cumbersome for people to prove their identity and access financial services," said Lenddo co-founder and chief operating officer  Richard Eldridge in a statement.

Eldridge said the company believes that in the era of social networks and smartphones, it should be easy formore people to get access to essential financial services.

"Building an app integrated with Facebook is important because it provides more convenient access to finance, plus in many markets, mobile access to the Internet with Facebook is bundled with the phone or much less expensive," he said.

Jeff Stewart, the company's chief executive officer stressed that social networks have enabled people to become more empowered by their reputation, "helping them to achieve their financial goals and ultimately provide them with something tailored for their individual needs."

"The community has always been there, but with the help of technology, it is more quantifiable and can be measured," Stewart added.

The app allows members to join Lenddo, connect their social media accounts including Facebook, Google, Linkedln, Yahoo! And Twitter and obtain a LenddoScore.

Based on the LenddoScore they are eligible to access financial products for educational purposes, healthcare, home improvement, or small business support.

Likewise, the app also allows members to invite "trusted friends" to join their path to achieving their goals and act as character references for loans, bolstering the trustworthiness and financial credibility of Lenddo community.

"By building an app that's integrated with Facebook, our goal is to encourage a more collaborative social community and extend superior financial services to a broader scope of deserving people," Stewart added.

Founded in 2011, the Lenddo community has over 350,000 members who are able to use their online reputations on social networks such as Facebook, LinkedIn, Twitter and Google to access life improving loans to which they may otherwise not have access. (FREEMAN)