Bank’s €8bn cash call is backed by a cabal of mainly European rivals
Best Financial Inclusion Initiative/Application - RCBC
The winning bank launched a mobile app that promotes financial inclusion by targeting the unbanked sector in the Philippines. The app featured three languages namely English, Filipino and Cebuano. It simplified the customer onboarding process with its electronic know your customer (eKYC) validation and provided low transaction fees. The bank has partnered with the government to launch a “Financial Health Talk” series to raise financial literacy among Filipinos. The mobile app was able to attract five million users since it was launched, and recorded a transaction volume increase of 437% year-on-year.
For providing innovative solutions to underserved segments in which credit and financial products are limited, the Best Financial Inclusion Initiative/Application is awarded to RCBC.
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