Ayannah and Card-MRI to Launch Digital Financial Services in the Philippines

Ayannah and CARD-MRI Group announced a partnership to launch digital payments, lending, banking and insurance products to serve CARD-MRI’s membership base.

CARD-MRI’s lending and insurance operations will be digitised and integrated into Ayannah’s digital omni-channel transaction network.

CARD-MRI is a microfinance institution and is said to have close to seven million members served by over 16,000 associates operating out of over 200 branches spread across the entire archipelago.

It purportedly has a loan portfolio of over P30 billion ($600 million) and total assets of over P50 billion ($1 billion). CARD-MRI also provides insurance protection to over 24 million Filipinos and health services to over 4 million others.

“We are honored to partner with the CARD-MRI Group to provide affordable and accessible financial services to as many Filipinos as possible through our growing digital and omni-channel network. We hope to contribute to the upliftment of the emerging middle class and SME entrepreneurs in the Philippines especially given the challenging conditions brought about by the COVID-19 pandemic.”

states Ayannah Chairman & CEO Miguel Perez.

“We chose to partner with Ayannah because we know that Ayannah is committed to building affordable and accessible digital financial services that improve the quality of life of our “clients” – the emerging middle class and especially, the micro- and small-entrepreneurs who are striving to rise up from poverty. We believe that Ayannah has the right products to serve our “clients” and the growing middle class in other emerging markets across Asia.”

said Dr. Aristotle Alip, Chairman Emeritus of the CARD-MRI Group.

Featured image credit: CARD Bank