iMoney: International financial product comparison website lands in the Philippines

One of South East Asia’s fastest-growing financial comparison websites, iMoney, has officially arrived in the Philippines with the launch of www.imoney.ph, Philippines’ version of its FREE consumer financial portal.

The new portal, named iMoney Philippines, is accessible with immediate effect by all members of the public who wish to compare the latest financial information, such as interest rates and loan charges, offered by major banks and insurance entities of the country. Usage of iMoney Philippines does not involve account creation or ID log-in, and is totally free of charge for consumers.

Established since 2012, iMoney started out as a simple bank comparison website in Malaysia and ended up striking a chord with tens of thousands of online users throughout South East Asia – a key factor driving its rapid expansion across the region. Today, iMoney is available in Malaysia, Singapore, Indonesia and the Philippines, with expansions into other regional countries already in the pipeline.

iMoney CEO and co-founder, Ching Wei Lee, said, “iMoney was created with a simple objective, and that is to simplify financial matters for the consumers.”

“Traditionally, consumers have often been at the losing end in a typical bank-consumer relationship,” Ching explained. “Whether to attain information or to apply for a financial product such as a bank loan; the consumers are the ones who have to maneuver past heavy traffic and wait for hours at a branch… wasting precious time and resources in the process.”

“With iMoney, consumers now have a platform where the most up-to-the-minute info on financial products can be collectively accessed instantaneously over the Internet,” Ching added. “Best of all, selected bank products and services can even be applied directly via iMoney at absolutely no cost to the applicants.”

iMoney, which uses earnings from onsite advertising and referral fees to fund its free services to the public, is currently one of the fastest growing financial portals in South East Asia.

iMoney Malaysia – the pioneering website which forms the basis of all subsequent iMoney portals in Singapore, Indonesia and the Philippines – now serves an average of 120,000 visitors and sees approximately USD40 million worth of banking products transacted over its website every month. The site boasts a monthly visitor growth rate of over 30%.

Earlier this year, iMoney had also captured the attention of the region’s financial sector when it received funding of USD167,000 and USD500,000 from Malaysian grant agency Cradle Fund Sdn Bhd and established investment entity Asia Venture Group respectively to fund its expansion endeavors across the region.

For iMoney Philippines, users can now expect to enjoy features that include free comparison services for Credit Cards, Personal Loans, Mortgage Loans, Savings Accounts, Time Deposits and Travel Insurances offered by major banks and insurance entities of the Philippines; as well as a Resource Library offering free financial information and tips for anything from how to get a Student Loan in Philippines to money-saving tips targeted specifically for Filipinos, which is available in both Filipino and English.

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