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Manila Bulletin devider Technews devider Filipino FinTech Company Sets $5M Hub Plan

Filipino FinTech Company Sets $5M Hub Plan

Published Mar 20, 2020 12:00 am
first-shoshin-holdings Filipino company First Shoshin Holdings, Inc. (FSHI) is set to create a US$5m Fintech Hub within the next twelve (12) months to support businesses and foster the country’s fintech industry. The FinTech Hub aims to create an integrated financial services space and serve as a one-stop-shop for Filipinos to perform financial transactions on-the-go, and setting FSHI to become a frontrunner in the FinTech innovation space. Established in 2017, First Shoshin’s diverse portfolio brings together top innovators and problem solvers to create the future of financial technology. The company is a powerhouse of technology-driven individuals with experience in different industries including logistics, banking, blockchain, crypto-exchange, fintech, gaming, software development, and real estate. As explained by Jack Ponce-Enrile, Chairman of First Shoshin Holdings, “We seek to disrupt, challenge and transform the way things are done in our key industries and build solutions that harness the power of the latest technologies to make better experiences for everyone. In essence, we’re modernizing the way OTCs operate by creating a spread of financial services that address a wide spectrum of financial needs, all under one roof.” FSHI’s concept for the hub takes inspiration from an open floor model where financial providers are arranged in a “counterless” and “tellerless” environment. Customers can queue via self-service kiosks to complete transactions such as paying bills, opening an account, or even sending money. Truly a first of its kind, the hub will support products and services that will cater to over two (02) million Filipinos within a 5-km radius to further power a digitally-enabled society. Partnerships across financial providers like Western Union, JoJo, cryptocurrency exchange providers, and core banking will form as the backbone of the project, which will strategically be located along EDSA Makati -- central to business districts with high foot traffic coming from Rockwell, outer BGC, and Makati. Despite the current health crisis affecting the world, First Shoshin remains steadfast in its efforts to push FinTech progress as it recognizes the importance of effective access to a wide range of financial products and services for all Filipinos. Apart from the FinTech Hub, First Shoshin has exciting plans in the pipeline including new product launches and initiatives to ramp up research and development of technologies like blockchain. Visit the First Shoshin Holdings website via http://firstshoshin.com for more details about their diverse business portfolio.
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