The top players in the gig economy are global players who have taken advantage of online platforms to build successful businesses. However, the gig economy is still relatively new in the market. There are no standardized systems and processes, making it hard for financial institutions and employers to gather and verify gig economy employment and income data.

New regulation from the Philippine Central Bank (BSP) has the potential to be a relief for the nation’s low-income borrowers, but will also trigger lenders to start reconsidering their offerings to this group.

For many people, not having a bank account is normal, but not having a job is less of an option. Newly created jobs during the pandemic have the property to be mostly digitally documented, enabled, and even executed, which makes them a perfect match for Smile and our clients.