Sep 6, 2024

2 minute read AMERICAN business news channel CNBC and market research firm Statista has named Tala as one of the World’s Top Fintech Companies for 2024. Particularly, it was listed under the Alternate Finance segment comprised of digital platforms offering companies and consumers a way to raise money online, using technologies like the cloud and AI algorithms. Tala is a global technology firm building the world’s most accessible financial services. It first entered the Philippine market in 2017 and has grown exponentially. As the first international fintech company for the global majority, it provides customers with flexible, convenient online credit that they can use to manage day-to-day needs, start/expand small businesses, and improve their financial lives. “We are honored to be recognized again by CNBC, this time as one of the top fintech companies globally. This, together with our inclusion in the CNBC Disruptor 50 list and the Forbes 9th Annual Fintech 50, is a reflection of our success in the industry measured by the positive impact we make in the lives of the Global Majority,” said Tala Philippines general manager Moritz Gastl. “Currently, Tala is serving over 9 million customers across four different markets.” Its mobile app uses next-generation technology, such as alternative data and machine learning to assess credit-worthiness, enabling customers sans a traditional credit history, for example, to access loans. “The top list is based on the analysis and weighting of overarching and segment specific KPIs. In consideration for the top list, overarching KPIs had a weight of 40 percent while segment specific KPIs had a weight of 60 percent to derive the final score. The companies with the highest score within their market segment were awarded,” CNBC and Statista said. Over 2,000 firms were considered before the final cut of 250 companies to be included in the list. Roderick L. Abad graduated from Pamantasan ng Lungsod ng Maynila, with a degree course in Bachelor of Arts in Mass Communication. He has 12 years of journalism experience, starting as a Special Features Writer in a major daily newspaper. In 2006, he moved to the BusinessMirror in the same capacity and, eventually, became a beat reporter. To his credit, he was a finalist in the 2011 Holcim Journalism Awards for Sustainable Construction and the 2013 Lasallian Scholarum Awards. He remains affiliated with the BusinessMirror as a contributor. Roderick Abad