GCash, Security Bank Partners to Expand Access of Filipinos to Formal Loan Products

​GCash, through its lending arm Fuse, has teamed with Security Bank, one of the country's largest universal banks. The collaboration will allow select GCash users to apply directly for Security Bank credit cards and, in the near future, housing and vehicle loans.

To provide more Filipinos with quick access to a portfolio of loan products, GCash, through its lending subsidiary Fuse, has collaborated with Security Bank, one of the country's major universal banks. The collaboration will allow select GCash users to apply for Security Bank credit cards and, in the near future, housing and vehicle loans directly.

​Through this groundbreaking collaboration, qualifying GCash users can now take a big step toward financial empowerment by applying for their first Security Bank credit card directly from the GCash app. This program provides customers with a smooth approach to obtaining financial goods, such as credit cards and, shortly, vehicle and housing loans, all in a few simple clicks. In addition, candidates can have access to unique benefits and take advantage of Security Bank's newest no-annual-fee credit card.

"Our partnership with Security Bank helps us strengthen our ongoing efforts to provide innovative and accessible financial services to millions of Filipinos," said Fuse Lending president and CEO Tony Isidro.
"By making Security Bank's reputable loan products available on the GCash app through our Loans Marketplace, we are able to provide many of our users with their first access to a bank loan, and a seamless and inclusive experience that meets their needs." 
Since its inception, credit card approvals have exceeded expectations, with GCash commercials reaching a large number of customers each month.
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“We are excited to partner with GCash as we continue to provide valuable services to our customers. This partnership allows us to leverage our banking expertise to reach more Filipinos, offering them customized financial solutions through a platform that is both accessible and innovative for everyone,” said Security Bank EVP and Retail Banking Segment Head, Rahul Rasal.

GCash and Security Bank's partnership provides a seamless and streamlined experience, allowing Filipinos to effortlessly identify and obtain appropriate financial solutions via the GCash Loans Marketplace.

Similarly, the alliance between GCash and Security Bank, which currently has over 328 branches and 662 ATMs nationwide serving retail, commercial, corporate, and institutional clients, represents a significant step toward their shared commitment to expanding access to quality, fair loans and retail banking products for Filipinos, particularly the country's 44% unbanked sector.

​For its part, GCash, through its lending arm Fuse, has disbursed more than P155 billion in loans to over 5.4 million Filipinos, including those in the grassroots sector, such as sari-sari store owners, public market vendors, and farmers, putting the app on track to meet its mission of "finance for all."

With its drive to bridge the country's financial gap, GCash, along with its partners, continues to intensify its efforts to foster an inclusive digital economy that leads to financial freedom by providing people with various ways and options for increasing their wealth and giving them a chance at their dreams for a better future—all with just a few taps on their phone.

Fuse Lending, Inc. is a company that offers simple, affordable, and secure loans in the Philippines. Its primary goal is to enable individuals to achieve financial security and growth through various digital lending products. Fuse Lending is a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines. It’s also regulated by the Securities and Exchange Commission (SEC).

​Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash—the #1 finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.

GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.

​Security Bank is a private domestic universal bank in the Philippines with total assets of PHP887 billion as of March 31, 2024. The Bank has been operating for 73 years since it was established in 1951. To date, Security Bank has a total of 327 branches and 662 ATMs, Cash Recycler Machines (CRMs) and Cash Acceptance Machines (CAMs).

In 2024, Security Bank was recognized Best for High-Net-Worth Clients in the Philippines by Euromoney. This is the fourth consecutive year Security Bank wins the Euromoney/Asiamoney award (2024, 2023, 2022, and 2021). Security Bank was awarded The Philippines' Best Bank for Corporates by Euromoney. Also in 2024, Security Bank was awarded Best Investor Relations Company (Philippines), Sustainable Asia Award (formerly called Asia’s Best CSR Award), Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations), and Best Investor Relations Professional (Philippines) by Corporate Governance Asia for four consecutive years (2024, 2023, 2022, and 2021); and Best Digital CX-Account Opening and Onboarding (Retail Banking) by The Digital Banker. The Bank’s MV Tellering System won Best Branch Digitisation Implementation by The Asian Banker. Furthermore, Asian Banking & Finance recognized the Security Bank Wave Mastercard as Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze); the Bank also won the award for Domestic Digital Payment Initiative of the Year for its Billing Invoice Presentment and Payment System (BIPPS).

​In 2023, Security Bank was awarded Best Corporate Bank in the Philippines award by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia for four consecutive years (2023, 2022, 2021 & 2020); Best Payment Solution in the Philippines – BIPPS by Alpha Southeast Asia; the 4 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD); Best Small Cap Company, Philippines 2023 – Silver by FinanceAsia; Workplace Wellness Programme Award – Philippines by ESGBusiness Awards (Singapore); and Renewable Energy Financing Programme-Philippines Award – SB Capital by Alpha Southeast Asia. Security Bank was awarded Excellence in Employee Engagement by Retail Banker International in the RBI Asia Trailblazer Awards 2023. Security Bank ranked in Forbes’ World’s Best Employers in 2023, whereby Security Bank ranked #54 in the world, #2 among Philippine companies, and #1 among Philippine banks. Forbes partnered with market research firm Statista to create Forbes’ seventh annual list of the World’s Best Employers.