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Tala and Salve Duplito: Promoting Financial Literacy in the Philippines

Global lending platform Tala has entered into a partnership with financial literacy advocate and money expert, Salve Duplito. During the first rollout of TALAkayan, Ms. Duplito spearheads face to face workshops with the underbanked and undeserved to empower them with effective tools to handle their finances and money management skills so they can reach their financial goals and build a better future for their families.

According to the National Strategy for Financial Inclusion 2022-2028 of the Banko Sentral ng Pilipinas (BSP), 45% percent of Filipinos cite not having enough money, and 40% lacked the required documentation to enter the formal financial system, and 22% said they have limited understanding of how financial systems work.

“Improving the financial well-being of Filipino consumers and investing in their growth are at the core of Tala’s mission,” said Iona Iñigo-Mayo, Global Customer Experience Operations Head at Tala. “Through our partnership with Salve Duplito, we are confident that more Filipinos will gain the knowledge and confidence needed to achieve financial security, and ultimately to improve their quality of life.”

In a recent survey conducted by impact measurement company 60 Decibels on Tala’s impact among Filipino borrowers, 75% of respondents reported improved quality of life thanks to Tala, 45% reported that they increased their savings due to Tala, and 89% have said that Tala has improved their ability to manage their finances.

To sustain these encouraging words, Tala believes in taking a proactive approach to enhancing financial literacy among Filipinos, including a partnership with Salve Duplito. Salve Duplito has been awarded by the Securities and Exchange Commission (SEC) as an investor champion for her efforts in promoting personal finance, will provide insights and advice on how to manage money, build savings, and get out of debt through the TALAkayan workshop.

These educational sessions are part of Tala’s comprehensive efforts to promote financial literacy in the Philippines. In addition to the in-app resources, Tala offers educational content on its website and through various social media channels. By expanding its reach and collaborating with Salve Duplito, Tala aims to provide Filipinos with the necessary tools to make informed financial decisions and interact only with legitimate financial institutions.

“I focus my financial education efforts on the underserved precisely because they are the ones who have been ignored for a long time by the formal financial system. The middle class and the high net worth individuals will get their information easy enough,” says Salve Duplito. She further explained, “But the jeepney drivers, the farmers and fisherfolk, the urban poor and many others deserve to have equality of opportunity. Financial education is their basic right.”

Launching the Financial Literacy Workshop Series

Started last August, the first of the series of workshops was held in Laguna, catering to workers in the manufacturing sector. These workshops will continue through invitation until June 2024. The trainings will reach different audiences, including overseas Filipino workers (OFWs), local government units (LGUs), labor groups, manpower companies, non-governmental organizations (NGOs) serving disadvantaged groups, government social welfare program beneficiaries, and jeepney drivers’ groups.

Empowering Communities: A Journey Towards Financial Literacy

Tala continues its mission to provide accessible financial solutions to the underestimated population worldwide. By partnering with Salve Duplito, Tala seeks to ensure that every Filipino has an opportunity to enrich their knowledge on financial responsibility and a chance to achieve long-term financial stability.

About Tala   

Tala is the world’s leading money app for the underbanked, bridging digital and cash ecosystems in emerging markets to help more people to fully participate in the global economy. Today, Tala processes nearly $200 million in transactions each month for more than eight million customers in Kenya, the Philippines, Mexico, and India who use Tala to grow their businesses and their financial lives.

Tala has raised nearly $500 million in equity and debt from visionary investors, including Upstart, Stellar Enterprise Fund, RPS Ventures, J. Safra Group, IVP, Revolution Growth, Lowercase Capital and PayPal Ventures. Tala has been named to CNBC’s Fortune Impact 20, CNBC’s Disruptor 50 list four years in a row and Forbes’ Fintech 50 list for seven consecutive years. More information about Tala can be found at https://tala.ph/borrow/.

For questions about legitimate online blending platforms, email at [email protected] or interact through the official Tala app. Tala is operated by Tala Financing Philippines Inc., a licensed financing company with SEC Registration No. CS201710582 and Certificate of Authority No. 1132, and a registered operator of payment system, with OPS Registration No. OPSCOR-2023-0010. Always study the terms and conditions and the disclosure statement before proceeding with any credit transaction.



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