Saving for tomorrow: A Q&A with Lista

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By Mariedel Irish U. Catilogo, Researcher

MONEY MANAGEMENT is not exactly a foreign concept to Filipinos but rising prices of goods and services recently has certainly made this very difficult.

Changes in financial behavior were also seen in 2021 as 37% of adults were reported to have saved more for emergencies while 17% frequently used online banking and digital payments, according to the Bangko Sentral ng Pilipinas’ (BSP) Financial Inclusion Survey.

Despite the rise of budgeting tools in app stores worldwide, there was no budgeting app that is customized for Filipino consumers, which uses the local currency and the native language.

In 2021, Lista founders aimed at bringing service primarily to medium, small, and microenterprises (MSMEs), sari-sari store owners, stay-at-home mothers, and young adults who want to manage their finances. The app sought to remove the use of pen and paper, Microsoft Excel, and calculator in monitoring daily finances.

Today, Lista also offers various services including credit scores and marketplace for credit card applications.

To know more about Lista and its goals in the financial management landscape, ����ý reached out to one of Lista’s founder, Khriztina Lim, in an e-mail interview.

Here is the excerpt of the interview:

1. What is Lista app? How did the concept start? What are the app’s features?

In May 2021, co-founders Aaron Villegas and Khriz Lim met and quickly shared the same excitement of helping Filipinos stress less about their finances. Shortly after, they built the first version of Lista and shared it with friends and family.

Lista’s early iterations (as a bookkeeping app) were designed for Filipino small businesses including sari-sari stores and online shops. In July 2021, Lista got its first 1,000 users, a result of on-the-ground marketing efforts including handing out flyers, pitching at live webinars, and posting on Facebook groups.

In September 2021, Lista was officially launched and garnered over 100,000 downloads, which saw users across the country collect debt and manage their business and personal finances through the app. Lista noticed more users were downloading the app for personal finance management. This prompted Lista to launch features for personal users including budgeting, marking its transition from bookkeeping to financial management app.

In April 2023, Lista launched Credit Score in partnership with credit bureaus.

Today, Lista’s main product offerings include Credit Score, Marketplace (for credit card applications with Moneymax, and more), budgeting, savings challenge, and money in/money out.

2. What services do you offer in the local market, especially for your target markets which are young adults, small business owners, mothers?

Credit Score – offers easy and instant access to credit scores and credit reports starting at P199.

Marketplace – offers easy credit card (with Moneymax), loan, and insurance applications through the app.

Budgeting – lets users plan, organize, and track their budget according to their terms, whether it’s weekly, monthly, or semimonthly.

Savings Challenge – allows users to track their savings, can customize their target timeline and target amount.

Money In/Money Out – allows users to see and track their cash flow by tapping Money In or Money Out on the app, synced with the Budgeting feature.

3. How do you describe the progress of these services? Why do you think that the concept of financial management thrives today?

There has been remarkable growth, particularly in recent years marked by the pandemic. There’s certainly a noticeable shift in people’s attitudes towards their finances, a heightened awareness of managing their money wisely. We think that’s something worth celebrating.

What makes this moment beneficial for us is the role we can play in this evolving landscape. Originally designed to cater to Filipino MSMEs, Lista has successfully transitioned its focus to serve individuals, recognizing the growing need for personal finance management tools. Whether it’s tracking expenses, setting budgets, or planning for the future, Lista provides the necessary resources to understand where one’s money is going and maximize it to improve their quality of life.

4. What makes Lista different from other financial management app?

Lista distinguishes itself from competitors by our straightforward mission: transforming the way Filipinos perceive their finances, shifting from a negative outlook to a positive one.

Lista believes in the power of education. The app puts the power of financial management directly into the hands of its users, giving them encouragement and confidence in navigating personal finance.

As more individuals recognize the importance of understanding and managing their finances, Lista remains committed to providing the tools and resources needed to support their journey toward financial wellness.

5. According to a report by S&P Global Ratings, the Philippines placed at the bottom 30 of 144 countries surveyed on financial literacy. Also, the BSP’s study showed that 37% of Filipino adults started saving for emergency fund while 17% started using online banking and digital payments frequently. With this, how do you think the app helps gauge one’s capability to understand or manage their finances well?

Lista is well aware of the challenges surrounding financial discussions. In daily conversations, many Filipinos still consider talking about money as taboo, if not awkward. That’s why Lista prioritizes ease of use, straightforwardness, and simplicity. Lista also embraces cutting-edge technology to simplify life’s complexities. Free from convoluted jargon and perplexing menus, our platform offers simple tools to empower users to plan, manage, and understand their finances better.

6. To date, how many downloads do you have? What feedback have you received about your app?

Lista has been consistently generating an average of over 80,000 installs monthly, finishing off 2023 with a total of 2.6 million downloads.

Since its introduction, the demand for access to credit scores and reports has been substantial, sparking numerous conversations among users about the accessibility and utility of Lista’s services in understanding and improving their credit health.

Lista also underwent a successful rebranding last September, a change that was welcomed with positive feedback. With a renewed focus on user-friendliness and a vibrant aesthetic, Lista has effectively fostered approachable discussions on money, significantly reducing intimidation among users.

7. What challenges do you encounter and/or currently face when it comes to the operation or providing financial management services further to your consumers?

Naturally, the challenge at hand is to ensure inclusivity and accessibility for all users, both online and offline. More and more Filipinos own smartphones but data/load credits are still expensive for some. Lista tries its best to make the app accessible with little to almost no data cost to users. This is to encourage them to continuously use the app without having to worry about data usage.

8. What are the company’s upcoming projects or developments that the market can expect this year?

Lista is working on a few products that will bring our users new levels of financial flexibility and convenience. More credit reports from different credit bureaus will be available in the app soon. This will help users understand more about their financial situation and how banks evaluate their credit card or loan applications.

We are also enhancing user experience in budgeting and finance tracking. This is to help Filipinos develop the habit of budgeting and sticking to it.

9. Anything else you would like to share with us? What is your advice for those who would like to start saving up but don’t know how to?

For individuals seeking to manage their finances effectively and permanently, it’s essential to know the motivation behind your financial objectives.

Whether you’re saving for an emergency fund or planning for future endeavors, utilizing financial management tools such Lista can provide valuable support on your path to achieving financial clarity.

There is not one clear cut set of instructions that would apply to every financial situation. It really depends on each individual which is why we made the app as customizable as possible so as not to overwhelm the user.

For those who do not know where to start, we recommend them “Lista mo muna.” List all of your current income streams and recurring expenses. That’s how you can start seeing a clear picture of where you are. Then decide what your short- and long-term goals are.

After you’ve done this, our app can help you reach your goals as long as you keep on using it.

To know more about Lista, visit The app can be downloaded for free on Google Play and App Store.