ADVINTEL Inc. announced last Tuesday of having entered into a Memorandum of Understanding with the Department of Trade and Industry (DTI) aiming to expand access to formal financing for small and medium enterprises (SMEs).
The agreement, signed on August 6, ‘provides the foundation for launching ‘SME Trust,” read the company’s statement.
It explained that ‘SME Trust’ is a credit-profile registry that integrates digital identity verification, credit data systems, cybersecurity, and electronic KYC technologies into the DTI’s network of over 1,400 ‘Negosyo’ centers.
Trade Undersecretary Blesila A. Lantayona was quoted in the statement as saying ‘SME Trust’ is expected ‘to ensure that businesses in rural communities enjoy the same digital visibility as those in urban centers.’