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.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The global research company has offices in Singapore, Malaysia, Hong Kong, Beijing and Dubai as well as representatives in London, New York and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. Visit www.theasianbanker.com for details.
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/