Ayannah and CARD-MRI partner to bring digital financial services to the Philippines’ emerging middle class
Ayannah joins forces with the CARD-MRI Group, the Philippines’ largest microfinance institution to bring digital financial services to every community 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 large and growing membership base. CARD-MRI is the Philippines’ largest microfinance institution with close to seven million members served by over 16,000 associates operating out of over 200 branches spread across the entire archipelago. CARD-MRI 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 Filipinos. Ayannah will support the digital transformation of CARD-MRI by digitizing CARD-MRI’s lending and insurance operations and integrating CARD-MRI into Ayannah’s growing digital omni-channel transaction network.
“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 are pleased to partner with Ayannah to spur the digital transformation of the CARD-MRI Group. We know that digital, branchless, and omni-channel are the future of financial services and the COVID-19 pandemic has made our digital transformation even more urgent. 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 were impressed by Ayannah’s rapid growth in the Philippines and expansion across Asia over the last few years. Ayannah’s growth even accelerated with the onset of the COVID-19 pandemic. In the last twelve months ending June 2020, Ayannah served over 4 million customers with over 1 million repeat customers. We believe that Ayannah has the right products to serve our “clients” and the growing middle class in other emerging markets across Asia.” declares Dr. Aristotle Alip, Chairman Emeritus of the CARD-MRI Group.
About Ayannah
Ayannah is the leading provider of affordable and accessible digital financial services for the emerging middle class in Asia. We have built an expansive and market-proven digital omnichannel distribution network to reach our customers and connect them to a growing network of leading financial service providers on our award-winning open banking platform.
About CARD-MRI Group
The CARD Mutually Reinforcing Institutions or CARD MRI is a group of mutually reinforcing institutions with a common goal of eradicating poverty in the Philippines and uplifting the lives of the Filipinos. Established in December 1986 as a social development foundation by a group of 15 rural development practitioners, CARD MRI is committed to empower socially-and-economically challenged women and families to eventually transform them into responsible citizens for their community and the environment. From its humble beginnings, CARD MRI has evolved to a group of fourteen development institutions providing a diverse set of financial, health, and education services to millions of Filipinos.