First Shoshin Holdings unveils $5M FinTech Hub Plan
The concept for the hub takes inspiration from an open floor model where financial providers are arranged in a “counterless” and “tellerless” environment and customers can queue via self-service kiosks to complete transactions such as pay bills, open an account, or send money.
First Shoshin Holdings, Inc. (FSHI) has set its sights on becoming a frontrunner in FinTech innovation as it plans to develop a FinTech Hub in the next twelve months which aims to create an integrated financial services space to serve as a one-stop shop where Filipinos can perform financial transactions on-the-go.
A marketplace of financial services
The concept for the hub takes inspiration from an open floor model where financial providers are arranged in a “counterless” and “tellerless” environment and customers can queue via self-service kiosks to complete transactions such as pay bills, open an account, or send money. A first of its kind, the hub will support products and services that will cater to over two million Filipinos in a 5-km radius to further power a digitally-enabled society via partnerships across financial providers such as Western Union, JoJo, cryptocurrency exchange providers, and core banking.
“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,” explains Mr. Jack Ponce-Enrile, Chairman of First Shoshin Holdings. Strategically located along EDSA Makati, it is central to business districts with high foot traffic such as Rockwell, outer BGC, and Makati. First Shoshin will be investing $5M USD in the next twelve months to begin the development of the project.
Pushing FinTech progress amidst the COVID-19 crisis
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. “Promoting greater financial inclusion in the Philippines remains a pressing challenge. Our aim is to innovate and provide holistic and safe solutions to allow not just cashless payments but contactless as well, and the FinTech hub that we’re planning to build is something to look forward to and we’re positive that when the situation improves, we’ll be ready to be of service to the public,” adds Mr. Ponce-Enrile.
Challenging the status quo with a tech-driven mindset
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. Established in 2017, First Shoshin’s diverse portfolio brings together top innovators and problem solvers to create the future of financial technology. “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,” says Mr. Ponce-Enrile. Today, First Shoshin 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.
To get in touch with First Shoshin, email info@firstshoshin.com.
This press release is submitted to BitPinas: [PR] First Shoshin Holdings unveils $5M FinTech Hub Plan
