In a bid to strengthen the local agricultural sector, #GCash has initiated a collaboration with Farm Konekt to provide farmers and fishermen with access to non-collateralized loans through its lending division, Fuse Lending.
#FarmKonekt is a platform for community-based farm management enterprises that emphasizes data-driven clustered production to enhance farmers’ skills and ensure a market for their products. Farmers and fisherfolks are provided with clustering solutions that include consultancy, capacity building, and customer matching.
To further enhance the agricultural sector, the collaboration will also provide farmers and fishermen with access to a broad range of crucial business services in the GCash app, such as GSave and GInsure, to expand their savings and protect their finances.
The Memorandum of Understanding was signed by Tony Isidro, President and CEO of Fuse Lending, Kevin Yu, GLoan Product Head, John Gastanes, President and CEO of Farm Konekt, and Stephen Costiniano, Chief Operations Officer of Farm Konekt.
“This collaboration continues our unwavering commitment to serving Filipino farmers, aligning with the GCash mission to serve every Filipino wherever they are. Farm Konekt’s connections with farmer groups make them an excellent on-ground arm for us to better understand our farmers’ needs, who constitute one of the most critical sectors of our economy,” stated Isidro.
“In collaboration with GCash, we anticipate building an inclusive ecosystem that ensures farmers and fisherfolks benefit from the rapidly evolving digital economy. The majority of the farmers we transact with either use remittance centers or GCash. To formulate a robust scoring strategy, we have concentrated on our core strength, which is clustered acceleration, while entrusting GCash to excel in providing inclusive financing opportunities,” expressed Gastanes.
The agreement commenced with a financial literacy session with farmers in Jaen, Nueva Ecija, where they were educated on managing their finances with concepts like savings, insurance, and responsible borrowing.
The collaboration aims to make significant contributions to the Agritech industry, which focuses on data-driven farming and market linkage, with innovative fintech solutions that make essential financial services accessible to the unbanked majority.
FAQs
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What is the collaboration between GCash and Farm Konekt? The collaboration between GCash and Farm Konekt aims to provide farmers and fishermen with access to non-collateralized loans and a range of essential business services in the GCash app.
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What is Farm Konekt? Farm Konekt is a community-based farm management enterprise platform that focuses on data-driven clustered production to enhance farmers’ skills and secure a market for their products.
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What services will the farmers and fishermen have access to through this collaboration? Farmers and fishermen will have access to non-collateralized loans and a range of essential business services in the GCash app, such as GSave and GInsure.
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Who signed the Memorandum of Understanding for this collaboration? The Memorandum of Understanding was signed by Tony Isidro, President and CEO of Fuse Lending, Kevin Yu, GLoan Product Head, John Gastanes, President and CEO of Farm Konekt, and Stephen Costiniano, Chief Operations Officer of Farm Konekt.
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What is the aim of this collaboration? The collaboration aims to make significant contributions to the Agritech industry, with innovative fintech solutions that make essential financial services accessible to the unbanked majority.