MAKATI, Philippines (January 24, 2023) — After introducing their newest service, personal loan assistance, Nook is now on its way to launch two new services — car and business loan assistance.
According to Nook's CEO and founder, Chris Elder, Filipinos are ready for a fully digitised loan application. "We've grown tremendously since offering personal loan assistance. As 77% of Filipinos now trust online financial services and transactions, 16% higher than what it was in 2019, we just know that there's a lot more potential clients out there. Filipinos buy their clothes, shoes, and gadgets online. With online buying and selling platforms, this is just the next best move. So Nook is going to be there to let potential buyers know whether the vehicle that they are looking at is a viable option for them, funds-wise!"
Chris also encouraged financial institutions to join them in simplifying and digitising the process of loan application. "We already have the tools to make it happen, and in this climate, banks just need to jump in on a call with us so they can be a part of this revolution. With Nook, they are not just getting the client, they are getting access to our technology as well."
Comparing every option, up front
Unlike direct loan applications with banks, Nook shows clients all the different financing options available to them at the onset of the process. This allows them to compare and contrast the offers so they can make a conscious choice backed by data — rather than committing to a single lender before knowing whether a better fit exists elsewhere.
Team and technology
Nook's team and technology approach is what keeps clients coming back. "We're not just a loan origination website. Our loan consultants really talk to our clients, check in with them, and make sure they are comfortable with the terms of the loan. We educate, we listen, we recommend. Our favourite stories are always the ones that make us say, yes, we helped make that dream come true. That's what makes this job worthwhile," said Nook's Loans Team Lead, Mabelle Sanchez.
As the company continues to partner with more banks, it hopes that it is empowering more Filipinos to make better financial decisions.
Where Nook is today
Since this announcement, Nook has grown into a full-service mortgage brokerage and the Philippines' original and award-winning home loan broker. It compares 20+ banks — including BDO, BPI, Security Bank, UnionBank, RCBC and China Bank — and a dedicated Nook loan consultant runs the entire home loan application for the borrower, from pre-qualification through to approval. Because the partner banks pay Nook a commission once a loan is released, the service is 100% free to the client. Nook has since been Awarded Best Mortgage Broker Philippines by Pan Finance.
If you want to know more about Nook, visit www.nook.com.ph or follow Nook on its social channels.