GoBear, UnionBank float LaaS service in the Philippines

They will offer e-commerce loans on Lazada via GoBear's eShopaLoan.

GoBear and UnionBank have launched their first lending-as-a-service (LaaS) partnership in the Philippines, according to an announcement.

The two firms will offer e-commerce loans on Lazada through GoBear’s eShopaLoan, allowing consumers to purchase in installments. eShopaLoan is available on GoBear’s pera247 mobile app.

GoBear has also taken prudent measures to its underwriting evaluation such as increasing risk cutoffs and bringing more manual verification into automated processes. In addition, pera247 has taken more precautions to verify and validate income stability and employment of potential lenders.