The Digital Divide

10 years ago, the population of Filipinos online numbered around 2 million… which was roughly 2.6% of the total population. Back then, email and research were the main uses of the internet and not everyone had access due to the expensive nature of computers and dial up charges. Banking features on the internet were not really popular due to the fact that security was a big issue. Social networking was also in its infancy.

Flash forward 10 years, and the World, including the Philippines, saw the biggest change in terms of online usage with the boom of Social Networking. It started with Friendster & MySpace, and now Facebook is king. Facebook’s entry in the social network scene almost killed Friendster and other social network sites who were actually in the market first. The success of the social networking arena gave new meaning to how people have embraced the internet. It also helped the increase in online presence, allowing the cost of computers and going online to descrease dramatically. At the same time, the proliferation of internet cafes added to the ability for everyone to access the internet.

Now there are over 29.7 million Filipinos online and more than 22 million are using Facebook as their main social network site. To sum it all up, the internet penetration in the Philippines increased more than 12-fold in the span of only 10 years and continues to increase at a rapid rate of 10% per annum.

We at Raining Pesos Inc. saw this opportunity to help the banking industry in terms of online loan applications and making it quicker and simpler for applicants to apply seamlessly online. We, in turn, developed the very first paperless online loan application portal for local banks to speed up the pre-screening process in order to service their customers better. Another value proposition we have for customers who visit our website, at, is that they are able to compare features and loan types of different banks in just one website at the comfort of their own home, office or favorite Wi-Fi hang-out. There is no pressure, and you can do it at your own pace to make sure you are able to make the right decision.

Our portal is also an information haven for applicants to learn more about the types of loans, how to budget and other important information pertaining to personal finance in order for them to make the best decision. Raining Pesos aims to simplify and speed up the application process over the internet by making sure it is seamless, paperless and definitely the fastest process.

We are here to provide you with the right tools and information to make sure you are fully equipped to arrive at the best decision with regards to your loan. We will be updating our blog with the latest information, promotions, tips and advice, as well as new bank partner additions and upgrades to the website. Be sure to keep checking back for all the latest news!


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