Cashwagon acts against group administrators spreading hate speech and harassment against its staff members
Numerous groups were created on social media channels in the recent past, promoting hate speech and defamation against the Cashwagon brand. These groups even went to the extremes of harassing its management and its staff members.
The company took actions against the administrators of these groups since it was bravely concerned about the risky situation such groups put its staff in mostly, as many of the staff members personal social profiles, images and phone numbers were shared in such groups. This incident put the staff members in grave danger and in a traumatizing situation as many of them were approached by strangers and threats personally. While threats were reached to the staff members, such actions also caused damage to its brand due to various fake rumors that was spread in these groups about the company.
With the help of Sri Lanka Police, the company was able to apprehend these perpetrators. The company was also able to remove a few groups that was associated with such incidents from social media channels. Mr. Samila Fernando, CEO of Lendtech Lanka (Pvt) Ltd, the company that operates the Cashwagon brand stated “Safety of our employees is our priority. It is our utmost responsibility to keep our employees from being harassed in such social channels, we would continue to work with Sri Lanka Police, local authorities and digital partners to make sure administrators of such groups/pages are disciplined for this in accordance with applicable laws and would put a stop for such harassments in future. No staff member of Cashwagon should go through such a situation”. Mr. Samila Fernando further mentioned “Protection of Personal data of both our Customers and our Staff is the top priority for company, we will not tolerate any infringement and will take any case seriously”.
Lendtech Lanka (Pvt) Ltd, is a fintech (financial technology) company which carries out its operations under the “Cashwagon” brand name. It operates a digital platform and its application onboarding process is so simple and intuitive, that anyone can apply within a few minutes, providing access to financial services for the general public. With a head office in Singapore, Cashwagon operates in 5 countries in South-East Asia. The company first opened for business in April 2017 in Sri Lanka, which is where it recently became the first fintech in Sri Lanka to obtain ISO certification and where it was also the first company to become a member of the Sri Lanka Fintech Association (FASL).
To date, the platform in Sri Lanka has helped 274,000 borrowers to obtain more than 990,000 loans. The company takes great pride in being a fintech pioneer in the Sri Lankan market and was one of the first digital platforms to introduce rapid online consumer financial services for underserved people.