ERRING lending companies still persist despite numerous complaints against them.

Just recently, the National Privacy Commission and finance groups strongly condemned the harvesting of excessive information of some online lending platforms such as saving their users’ contact lists and photo galleries.

The NPC, Fintech Alliance.PH, Philippine Finance Association, and several entities from the non-bank financing sector said the application permissions that some online lending platforms practice on their mobile app are “unreasonable and unnecessary.”

Such practice is unnecessary because an applicant’s credit worthiness may be determined through other lawful and reasonable means,” they said.

Non-compliant online lending platforms also exploit the personal data of their borrowers by using it to “shame and coerce them into paying their loans,” they said.

Concerned digital lending players were reminded to strictly adhere to the Code of Conduct and Code of Ethics as well as the Code of Collection Standards and Ethics that the FinTech Alliance.PH and the Philippine Finance Association have established and standardized in the industry to ensure strict compliance while promoting consumer protection.

Finance entities are obligated to comply with the Data Privacy Act of 2012 and related laws when processing the personal data of their customers.

Lending companies must bear in mind that they are always accountable for the personal data under their control or custody. Thus, they are obliged to adopt and implement reasonable policies in handling the personal data of borrowers.

Non-compliant lending platforms were urged to use lawful and “reasonable” methods in evaluating credit scores and in debt collection without resorting to the harassment of borrowers “such as the use of insults or profane language, violent threats, or false representation and unnecessarily exposing their borrowers’ personal data to unauthorized persons.”

Earlier, Google Store took down four online lending apps on the NPC’s orders — all found harvesting “grossly excessive data” such as media files to social media data.

The orders were the NPC’s latest move in its crackdown against online lenders that violate the privacy rights of its customers.

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A company is aspiring to become a market leader in the local common tower industry, as it looks to aggressively support the government’s drive to roll out 50,000 towers by 2030.

A joint venture between Aboitiz InfraCapital and leading global private markets firm Partners Group, Unity Digital Infrastructure, Inc. or Unity builds and operates telecommunication towers and supporting infrastructure across the country to complement efforts of Mobile Network Operators to enhance their connectivity and services.

With Aboitiz and Partners Group’s track record, strong partnerships, nationwide presence, and expertise, Unity is more than ready to deploy thousands of towers in the next five years to ensure better connectivity for everyday Filipinos.

It fully supports the government in its target of rolling out 50,000 more towers in the next decade. It aims to be the market leader in this new industry that will pave the way for inclusive digital transformation.

Unity has already completed pilot tower sites in Cebu with three ready for installation, well ahead of schedule.

Through AIC, Unity leverages Aboitiz Group’s vast network of resources. The Group has over 100 years of operating experience in the Philippines, with a 37,000-strong workforce and operating business units all over the country.

AIC has recently deployed over 300 small cell installations in Cebu and Davao for MNOs, while the Aboitiz Group operates its own internal communications tower infrastructure.

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