Atome taps alternative data to reach unbanked Filipinos

About 80% of its Philippine cardholders are using their first card product.

Atome Philippines is using alternative data to assess borrowers without conventional income documents as it expands beyond instalment payments into lending and insurance to reach underserved Filipinos.

“We took a different approach: What if we used alternative data already sitting on your mobile phone—for example, a Grab driver with consistent weekly earnings, a TikTok Shop seller with regular monthly sales, or a food stall owner whose QR collections are steady every day—together with other employment information for a more holistic underwriting assessment?” Chris Quiros, president and country general manager at Atome Philippines, told Asian Banking & Finance.

The fintech company uses transaction records, earnings patterns, and repayment behaviour to assess applicants who may lack payslips, tax records, or formal credit histories.

Approved customers initially receive small spending limits, which Atome adjusts based on their earnings and repayment records.

“For those who are approved, we extend them a micro spending limit, monitored carefully and continually adjusted based on earnings and repayment behaviour,” Quiros said in an emailed reply to questions.

Atome said about 80% of its Philippine cardholders are using their first card product, whilst 65% are women. Customers typically use their cards for groceries, food, transport, fuel, utility bills, and online purchases.

The Atome PayLater Anywhere Card can be used wherever Mastercard is accepted. Customers can pay their monthly balances in full or through instalments.

The expansion comes as financial account ownership amongst Filipino adults fell to 50% in 2025 from 56% in 2021, according to the Philippine central bank.

About 85% of households had at least one financial account in 2025, up from 74% a year earlier, whilst 62% used electronic devices for financial transactions, compared with 53% in 2024.

Atome is also expanding into insurance through Atome Card Shield, developed with Chubb. The product combines online shopping protection and personal accident coverage, with annual insurance protection paid through monthly premiums.

“For the everyday Filipino without a formal banking relationship, insurance has traditionally been out of reach—whether because of cost, complexity, or simply not knowing where to start,” Quiros said.

The company expects Card Shield to be the first insurance product for many customers.

Insurance penetration in the Philippines rose to 1.78% in 2025 from 1.67% in 2024, according to the Insurance Commission.

Atome plans to measure demand through sign-ups, renewals, claim frequency, and settlement times.

The launch extends its partnership with Chubb, which began in Singapore more than two years ago before expanding to Malaysia and the Philippines.

Quiros said Atome would explore additional insurance products based on gaps in local coverage rather than introduce identical offerings across markets.

The Philippines is among Atome's fastest-growing markets, with the company seeking further expansion across cards, lending, savings, and insurance.

Its ability to expand credit access whilst maintaining repayment quality will be important as it serves more customers without conventional banking records.

“We see significant runway to deepen product adoption across card, lending, savings, and insurance, and overall financial inclusion for everyday Filipinos,” Quiros said.