Smile API

Nowadays, it has become harder and harder for banks to maintain good performing loans. The need to further verify the validity of information in loan applications and the rise in percentage of nonperforming loans have been factors as to why banks have been operating on a loss. But with Smile API, you are now able to improve compliance processes and reduce nonperforming loans through employee information. Discover how Smile API does this: https://zurl.co/BH3q #SmileAPI #FinTech #APIprovider #latestFintech

Improve loan underwriting process through employment data! 🔍 Accurate creditworthiness assessments are key for financial institutions. Here’s why using comprehensive employment data makes a difference Need help in streamlining your credit assessment process? Smile API may just be the tool you need. Learn more about Smile API: https://lnkd.in/g3HXCbX9 #SmileAPI #FinTech #APIprovider #latestFintech

The Bangko Sentral ng Pilipinas (BSP) has recently released its findings from the Senior Bank Loan Officers' Survey (SLOS) for Q1 2024, and the data offers critical insights into the current lending landscape. Let's take a look: ✅Key Takeaways: - Credit Standards: Most banks have kept their credit standards unchanged for businesses and households. While 86.3% of banks retained loan standards for firms (modal approach), the diffusion index (DI) method showed a net tightening of standards for businesses due to deteriorating borrower profiles and lower bank profitability. - Loan Demand: 70.6% of banks have reported to get steady demand when it comes to business loans. The DI approach, however, revealed a net increase in demand driven by improved economic expectations and attractive financing terms. Similarly, household loan demand is steady, with an expected increase in Q2 due to rising consumption and favorable loan terms. What does this mean for you and your business? As HR and fintech professionals, navigating the complexities of credit standards and loan demand is crucial. As a provider of real-time, verified employment data, this aligns perfectly with the BSP’s emphasis on maintaining a strong borrower profile and managing risk tolerance. Here’s where Smile API comes into play: - With the ongoing challenges of maintaining credit standards, Smile API's comprehensive data solutions help banks and financial institutions mitigate risks by providing detailed employment histories. This ensures more accurate credit assessments, supporting stable lending practices despite fluctuating economic conditions. - As the demand for loans grows, particularly in the fintech sector, Smile API is able to aid banks and financial institutions in accelerating the decision-making process by offering verified data from government sources like SSS, Philhealth, and Pag-IBIG in the Philippines. This not only speeds up the approval process, but also enhances the reliability of credit assessments through up-to-date and verifed information straight from the source.. Visit us today and discover how Smile API can take advantage of these recent developments! https://zurl.co/afaY #Banking #Loans #SmileAPI #Fintech #APIIntegration

In the latest banking news, two Philippine operating banks had reported to earn higher in the 1st quarter of 2024 despite high interest rates and growth in consumer and retail loans. According to Frederick Dy of Security Bank Corp., their net profits have reached P2.6 billion pesos, with an increase of 11% in comparison to their previous report. The bank's net loans also increased by 12 percent, which was driven by an 18% growth in retail and micro, small and medium enterprise loans. Similarly, the Bank of Commerce (BankCom) and its income also rose by 8%. Known as the lending arm of the San Miguel Corporation, its gross revenues, andother income such as service charge, fees and commision also rose up to P2.25 billion and P398.34 million, respectively. Coupled with this achievement is the decrease in percentage of their non-performing loans, which decreased from 1.54% to 1.47% Common Ground The increases from these banks are very different, but share a common subject: loans. Loan performance has always been a concern for banking and lending institutions, whether big or small banks. With the increase of interest rates & loan applicants intending to use loans for business or personal use, it's high time banks leverages on this and capitalize, striking while the iron is hot. But a question then pops out, how are banks decreasing non-performing loan rates and improve loan performance? With different tools to cut down time in assessing multiple data and paperwork, these banking and lending institutions are able to process loan applications faster, yet still remain to uphold tight standards and be detail oriented on every piece of information on a loan application. If you're still wondering how you can do it, here's how Smile Checks can help you: Where Smile API Comes In: - Enhanced Credit Assessment: By leveraging Smile API’s comprehensive employment data, banks can more accurately assess creditworthiness, reducing the risk of non-performing loans. - Streamlined Loan Processes: Smile API’s real-time data access facilitates faster and more efficient loan processing, improving customer satisfaction. - Supporting MSMEs: Our data solutions empower banks to extend more loans to micro, small, and medium enterprises, driving economic growth. Visit our page today https://zurl.co/8k6Q #Banking #Finance #Loans #SmileAPI #Fintech #APIIntegration

Make sound decisions when evaluating loan applications! For credit risk managers, it's important to make fast and accurate decisions. With long, tedious processes, there is even more pressure to verify if the documents from applicants are factual. But with Smile API, fact-checking documents are as fast & as easy as 1, 2 3, thanks to our automation process! Learn more about Smile API here: https://zurl.co/j0NN #SmileAPI #FinTech #APIprovider #latestFintech

Have you ever asked yourself how HR professionals confirm the information applicants and employees give them? In a company's human resources department, the integrity of employment records is telling on how successful the department is when it comes to recruitment & personnel management. However, falsified employment records are an increasingly common challenge for any HR department, threatening the reliability of the hiring process & potentially leading to significant operational risks. Here's what you need to know about the most commonly falsified records in the country: Commonly Falsified Employment Records to Watch Out For 1. Altered Employment History: Many candidates are tempted to embellish their employment history, common examples of this are extending the duration of their previous jobs or omitting previous job experiences in order for them to hide gaps in their employment records. 2. Job Titles & Responsibilities: Some applicants my enhance their qualifications by inflating their previous job titles or adding more responsibilities that they took on, hoping to appear more suitable and competent for the position they're applying for. 3. Certifications & Diplomas: Educational qualifications are often falsified, with some candidates claiming to have completed degrees & certifications they didn't attend or complete. Details like these can determine an applicant's knowledge on the industry, jargons, and subject matters important on the job role they are applying for, which is why these are one of the common falsified documents that need to be verified. 4. Salary History: Applicants can also misreport their previous salaries in order to negotiate higher compensation than what they might receive. With applicants trying to falsify records like these, it's no wonder some HR departments have started to invest on tools and equipment that they can use to tighten their hiring systems. Here's how Smile Checks can safeguard your organization from such threats. With Smile Checks, you can: - Quickly confirm the authenticity of an applicant's employment history. - Verify degrees and certificates directly with institutions to ensure all educational credentials are legitimate. - Confirm the authenticity of information provided by candidates, significantly reducnig the risk of hiring unqualified or deceitful personnel. If you're nterested in seeing how Smile Checks can enhance your HR operations, you can visit us and discover more about our solutions and how they can meet your HR needs: https://zurl.co/J0yu #SmileChecks #HR #HumanResources #Recruitment #HRtech #BackgroundChecking

Get the most out of Smile API with our best practices for seamless integration and utilization! Here’s some best practices on how to use Smile API for your business. Learn more about Smile and our products here: https://zurl.co/NgbV #HR #Fintech #APIIntegration #BestPractices #SmileAPI #SmileChecks

Happy Independence Day! 🇵🇭 Today, we celebrate freedom and the spirit of unity that binds us all. Just as the Philippines cherishes its independence, Smile API is committed to empowering individuals with the freedom to connect and integrate data effortlessly. Let's honor the past by building a brighter, more connected future together. Mabuhay ang kalayaan! 🙌 #PhilippinesIndependenceDay #SmileAPI 🎉✨

Smile API in collaboration with the Fintech Philippines Association hosted the May Mixer with the transformative theme of consent-driven access to identity, employment, and income data, exploring its pivotal role in realizing the vision of open finance. We would like to thank our Speakers Atty. Leandro Angelo Aguirre, Deputy Commissioner, National Privacy Commission, Arvie de Vera Founding member of Fintech Philippines Association, Jerome Eger, CEO of Smile API, Ronaldo Recto, President Rural Bank of San Antonio and IT Steering Committee Head RBAP, Albert Tinio, CEO GoTyme Bank , Norman Armian, CTO, Southbank, Jojo Malolos CEO PayMongo, Marius Mare, Sybrin, Christian Lauron, SGV & Co. EY and Rafael Francisco amparo, Executive Director RBAP. Justo A. Ortiz George Royeca Jove Tapiador Mark S. Gorriceta Mark Vernon Arvie de Vera Amor Maclang Maria Gaitanidou Robertson Chiang Rico Bautista

I recently moderated a productive discussion on balancing data insights and consumer trust to advance financial inclusion in the Philippines. Summary below 👇 Atty. Leandro Angelo Aguirre of the National Privacy Commission underscored the importance of data subjects’ choice. Amidst these exciting developments, we must never forget that the data subjects need to be informed and allowed to consent in an accessible way. He criticized overly technical documents - citing studies that have found it takes a person 76 days on average to understand data privacy agreements - and stressed that companies must empower data subjects to take real control of their data, rather than offering the illusion of control. Marius Mare from Sybrin, with a wealth of experience addressing similar issues in South Africa, stressed that building financial data records in rural areas is key to integrating rural businesses into the broader financial system. He noted that while these areas have robust economies, their activities are untracked, leading to isolation and exclusion. Marius also pointed out the importance of reliable data sources, emphasizing the need for improved methodologies and accuracy, even in government data. Christian Lauron from SGV & Co. made an excellent point: it’s critical to consider that the approaches to data gathering must be embedded in the target group’s culture. Rafael Francisco amparo provided insight from rural banks. To Christian’s point, he emphasized that relationships are the starting point for rural banks to know their customers. They serve as the bridge between the rural segment and government projects, such as the rollout of the national ID, by providing a much needed physical presence in rural areas. Few financial institutions are capable of understanding or reaching the rural segments as effectively as rural banks, making them a pivotal piece in this ecosystem. Christian and Rafael discussed designing data models with specific objectives and client situations in mind. Rafael provided examples of alternative credit scoring models that do precisely that, one using telco data and another leveraging social media activity to estimate spending capacity. Overall, it is encouraging to see that the right minds and pieces are present in the space. There is much to be done; all the more reason to collaborate, share ideas, and build upon each others’ successes.