A minute is something we commonly associate with doing mundane tasks—but would you
believe that this same timeframe is how long it also takes for you to know if you can have a new
mobile phone or laptop?
This is what Home Credit Philippines (HCPH) promises with its one minute approval for
applications. From ten minutes, the Prague-based consumer finance company has reached
another breakthrough with its near-instant approval time.
“We are a business that wants to improve consumers’ lives by giving them more purchasing
flexibility and good experience while enjoying their shopping options,” says Franchette Cardona,
Chief Marketing and Product Officer of HCPH. “Imagine wanting a phone or a household
appliance and only waiting a minute to know if you can take it home or not. We want to change
the way Filipinos shop and we do it by constantly fine-tuning our processes.”
The company has come a long way since it opened shop in the country in 2013 with its products
and the ways they offer them. Starting at 20 minutes of approval time, HCPH was able to
shorten it to ten minutes, and now to one minute. According to Cardona, this is proof of their
dedication to keep up with the constantly changing consumer expectations when it comes to
shopping.
“One of the thrusts of Home Credit Philippines is to reach Filipinos who are not usually catered
by traditional financial institutions. Usually, this market has the misconception that it is
complicated to get a loan. We try to change that in every aspect of our business model, from
only asking two ID’s and now to just shortening our approval time to one minute. We are all
about ease and access,” explains Cardona.
Using technology to improve lives
Technology plays a big role in HCPH’s business model. It powers every aspect of its processes,
from its now paperless transactions to its near-instant approval. The company is also
continuously working on its mobile app to give consumers an easier time to manage their loans.
“We empower consumers by giving them financing options they can use to help improve their
lives—and we do it using technology. We want to remove the limits that traditional financial
institutions have by offering the market financial products that aren’t usually available to them, in
ways they aren’t usually offered,” says Cardona.
She continues, “We want to drive the message that enjoying financial products shouldn’t be
complicated. It can actually be as fast as one minute.”
To enjoy Home Credit Philippines’ products, simply visit one of their partner stores, approach
their sales associate, and submit two (2) valid IDs. Your one minute starts after you fill up and
submit your application form. Taking home a new product has never been that easy and fast.
Happy shopping!
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