Showing posts with label Financial Inclusion. Show all posts
Showing posts with label Financial Inclusion. Show all posts

Friday, March 22, 2024

Celebrating Digital Champions in the 3rd Digital Financial Inclusion Awards

As digitalization in the business sector remains a major strategy for growth and financial inclusion in the Philippines, the Digital Financial Inclusion Awards (DFIA) returns on its third year to recognize the achievements in digital transformation of the country’s most outstanding microfinance institutions (MFIs) and microentrepreneurs. The financial inclusion awards program is made possible by Citi Foundation, in partnership with the Microfinance Council of the Philippines, Inc. (MCPI) and supported by the Bangko ng Sentral ng Pilipinas (BSP).

More than just honoring the excellent efforts of MFIs to adopt digital transformation, the DFIA also aims to highlight efforts on expanding digital financial services to poor households by incorporating digital solutions in the products or services offered. It includes customer-centric solutions, business and technology agility, and product and service innovation, while inspiring other microentrepreneurs and MFIs to embark on their own digitalization journey leading to business growth and livelihood opportunities for many Filipinos.

The program launch was led by BSP Governor Eli M. Remolona Jr., MCPI Chairperson Gilbert Maramba, Citi Philippines CEO Paul Favila, together with the first DFIA Digital Champion on Microentrepreneur Category, Ms. Phoebe Borce.

BSP Governor Remolona said, “Digitalization serves as a bridge that connects the financially underserved segments of the population to providers of formal financial services. It does so in a manner that allows greater efficiency of financial transactions that fuel and accelerate economic growth. Let us therefore build more digital bridges so that everyone may enjoy the benefits of financial inclusion.”  

MFI winners will be chosen based on the types of adopted digital solutions, measurable outcomes on digital solutions, and institutional/client benefits of digitalization. Meanwhile, microentrepreneurs will be nominated by the MFIs based on success stories, types of digital solutions used, and measurable results on digital solutions. The National Selection Committee is composed of representatives from the government, business sector, media, and academia, and is co-chaired by heads of the BSP and Citi Philippines. Four MFIs and fifteen microentrepreneur winners will be selected as digital champions for the third DFIA. 

The program includes learning exchanges and technical assistance for MFIs as part of MCPI’s awareness and readiness campaign. An awarding ceremony will be held to recognize the winners on November 8, 2024.

The winners will be awarded cash incentives (PHP100,000 for each winner) and provided laptops that can be used to enhance their digital financial services program.

“Citi Foundation invests in efforts that increase financial inclusion, economic opportunities for the youth, and develop community solutions because it leads to economic empowerment and opportunities for low-income communities and individuals around the world. With the DFIA, we are able to support the nation’s pursuit of financial inclusion through digitalization. We hope that this will serve as inspiration for the microfinance industry and MSME sector to continue innovating their services for Filipinos and help transform the country into a more financially inclusive and resilient society,” said Citi Philippines CEO Paul Favila.

 “The impact of digitalization is seen everywhere around the world. This transformation not only allowed MFIs to help clients thrive, especially during crucial times, but most importantly, it has helped the institution in bringing more transformative change to businesses and help them succeed in today’s challenging business world,” said MCPI Chairperson Gilbert Maramba.

Aligned with the central bank’s push to promote financial inclusion nationwide, the DFIA program is an evolution of the Citi Microentrepreneurship Awards that enables Citi Foundation and MCPI to continue raising awareness about the importance of microentrepreneurship and microfinance in supporting digitalization and economic empowerment of low-income individuals.

Thursday, May 25, 2023

BSP, DILG, GCash Expand Paleng-QR Ph to Tarlac

GCASH Paleng-QR Ph Plus

The Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) continues to strengthen their  campaign to promote financial inclusion for Filipinos as they roll out another Paleng-QR Ph Plus initiative in Camiling Tarlac  in cooperation with GCash, the country’s leading mobile wallet.

Under the joint initiative, market vendors, and tricycle drivers in Camiling Public Market can easily transact with their customers through GCash QR codes. With this, both vendors and consumers can have a safer and more seamless shopping experience. Moreover, this initiative ultimately boosts the growth of the digital ecosystem, especially in the grassroots economy.

With the rollout, locals can also access GTreats in the GCash booth at the Camiling Public Market for special deals and promos when they pay using GCash. With the program’s entry in Camiling Tarlac, GCash has so far onboarded a total of 553 market vendors in Camiling Public Market, and more than 150 Tricycle Operators/Drivers Association (TODA) to allow payment through the e-wallet. 

In addition to providing a safer and more convenient cashless experience to vendors and their customers, GCash is also set to onboard more small merchants for GCash Pera Outlet (GPO) in the city. This feature on the app allows vendors and small merchants to earn extra income and grow their businesses by offering customers in the community convenient access to various GCash services such as Cash-in, Cash-out, Pay Bills, and Send Money.

“We are very grateful to the BSP, DILG, and GCash for pushing the Paleng-QR Ph Plus initiative in the city. Thanks to this initiative and to GCash’s convenient services, small merchants, tricycle drivers, and consumers can now enjoy a hassle-free payment experience for their everyday transactions and at the same time, thrive in the digital era. We look forward to the expansion of the program across the city as well as more strategic partnerships with the BSP, DILG, and GCash,” Tarlac City Mayor Maria Cristina C. Angeles said.

Driven by its shared vision of “Finance for All”, BSP, DILG and GCash have already on-boarded more vendors and tricycle drivers for the Paleng-QR Ph Plus initiative in various public markets in Pasig City Mega Market as well as Baguio City Public Market, Bangkerohan Public Market in Davao City, Dao Public Market in Tagbilaran City, Tricycle Operators and Drivers Association (AMTODA), Bacolod Libertad Public Market, Naga City People’s Market and Lapu-Lapu Public Market, all of which now accepts GCash cashless payments using QR codes.

With its long-standing collaborations with the public sector and Local Government Units (LGUs), GCash continues to lead Filipinos to a brighter, and more financially-inclusive future.

With the continued adoption of mobile wallets, GCash also continues to urge its users to be extra vigilant when making transactions on the app and reminds users to never disclose their MPIN or OTP, as well as to never click links outside the GCash app, especially from unknown senders or websites.

To report scams and fraudulent activities, visit the official GCash Help Center at help.gcash.com/hc/en-us or message Gigi on the website and type, “I want to report a scam.” GCash will never send private messages to ask for personal information, especially the MPIN and One-Time Pin (OTP). Customers can also reach out to the official GCash hotline 2882 for queries and other concerns.

The GCash app is available for free on Google Play and the App Store.

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About GCash

GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 81M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.


GCash is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.

Friday, September 2, 2022

GCash Bridges Financial Inclusion to Economic Growth Through Public Sector Partnerships

GCASH FINNACIAL INCLUSION

To serve the unbanked population, ensure financial inclusion, accelerate innovations, and ultimately achieve economic growth, the fintech sector should strengthen partnership with Local Government Units (LGU) and the public sector. This was one of the main highlights during the second annual “One with the Nation” conference by GCash, the country’s leading mobile wallet.

This year’s conference with the theme “Innovative and Inclusive: The Future of Digital Financial Services” made a bigger splash this year with a hybrid set-up held at the SEDA Hotel in Bonifacio Global City in Taguig and streamed simultaneously online via Zoom, with public sector partners and members of the media in attendance.

During the event, industry leaders and top government officials, led by Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla, gathered in one venue to share crucial insights on the future of digital financial services.

“The Philippines has made progress in digitizing retail payments while broadening financial inclusion. Recently, the BSP observed that more Filipinos are choosing to pay through digital means. In fact, the share of digital payments to total retail payment volume in the country grew from 20.1 percent in 2020 to 30.3 percent in 2021. The government continues to lead the path to digitalization with 96.7 percent of its total payment transactions and disbursements already in digital form,” Medalla said.

Given the rapid growth of digital payments and services, the conference also put a spotlight on how LGUs can integrate safe online payments into their services.

GCASH DTI

“The adoption of digital payments by the local government is, I think, really, the best way to expand the digital space in the country - where the local government really opt for e-wallets and payments in paying taxes or business registration. That’s something that LGUs can do a lot more,” Department of Trade and Industry assistant secretary Mary Jean Pacheco shared.

In her speech, GCash president and CEO Martha Sazon acknowledged that there’s still a long way to go to fully achieve financial inclusion.

“There’s still so much more we can do. We ask for your support once again as we continue to work to make a positive impact in the lives of Filipinos, especially those who need our help the most. We look to you, our partners, as we continue together onward and upward with a shared vision of a better future for Filipinos.” Sazon said.

Addressing the importance of partnerships between public and private sectors, GCash chief customer officer Winsley Bangit also said that joint effort from these sectors is crucial in its pursuit of finance for all.

“At GCash, we remain steadfast in being a partner with the central bank’s drive for financial inclusion as well as digitalization. And of course, your presence here today really shows that the partnership between private and public sectors are really important in nation building, in making sure that nobody gets left behind, especially sa economic recovery ng ating bansa. More and more Filipinos are realizing the benefits of digital payments, specifically 66 million Filipinos or around 4 out of 5 adults now put their trust in GCash”, Bangit said.

While more and more Filipinos are becoming more receptive to digital financial services, GCash also takes this as an opportunity to continue improving and innovating its services. For instance, beyond convenient digital payment options, GCash also offers millions of Filipinos a wide range of financial services from insurance to investment, and loans, and lifestyle needs with GInsure, GInvest, GLoan, GGives, GLife, and so much more.

In terms of reaching more communities, including micro, small, and medium enterprises, tricycle drivers, and market vendors which have a big contribution to the acceleration of economic growth of the country, GCash also helps in easy access to cashless payments through the promotion of the government's Paleng-QR Ph initiative.

Through continuous collaboration with LGUs and the public sector, GCash remains firm in its mission of making financial inclusion a reality for all Filipinos – building a reliable digital ecosystem that fosters sustainable economic growth.

For more information, visit www.gcash.com.ph


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About GCash

GCash (G-Xchange, Inc.) is the #1 Finance App in the Philippines. Through the GCash App, 66M registered users can easily purchase prepaid airtime; pay bills at over 1,600 partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 5.2M partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash is a wholly-owned subsidiary of Mynt (Globe Fintech Innovations, Inc.), the first and only duacorn in the Philippines.

GCash was recognized by The Asian Banker (TAB) and by the IDC in 2021 for its outstanding digital financial inclusion programs.

Tuesday, September 14, 2021

Celebrities and Community Advocates Share Diversity, Equity and Inclusion Lessons and Experiences at Manulife Webinar

MANULIFE WEBINAR

Manila ― The Philippine arm of global life insurer Manulife recently organized a free webinar titled, “Becoming Better Allies to Each Other,” which highlighted the importance of fostering diversity, equity and inclusion (DEI), through the real-life stories and experiences of staunch advocates and members of diverse communities. 

The webinar featured actress Angel Locsin, who is a champion for women empowerment and other causes; actor Ian Veneracion, who is an ally for positive parenting; Brina Kei Maxino, a UNESCO Global Champion for Inclusive Education and Special Olympics Ambassador & International Global Messenger; Dr. RJ Naguit, Board President of the Youth for Mental Health Coalition; and G3 San Diego, journalist and LGBTQIA+ member, who also served as moderator.


“Now more than ever, each of us has a role to play in ensuring that we help create more safe spaces in our communities. At Manulife, we are committed to cultivating an environment where people can be their true selves, and they are heard, valued, supported, and respected, no matter our differences,” shared Richard Bates, President and Chief Executive Officer, Manulife Philippines. “To stay true to our commitment to make every day better for Filipinos, Manulife extends its DEI learning journey to our broader community, so we can all come together, have meaningful conversations and lift each other up."


“We likewise extend our DEI initiatives to the way we serve our customers, which is why Manulife Philippines honors domestic LGBTQIA+ partners as beneficiaries and offers insurance solutions that cater to gender-inclusive needs. This enables us to embed DEI across our business, and help drive greater inclusion in our communities,” Bates added.


“In this webinar, we focused on becoming better allies to one another. Being an ally means listening to, learning from, and seeking to understand one another, so that we can reach out, build bridges, and grow together. For us at Manulife, allyship is about shared responsibility and accountability, and being proactive in building strong, inclusive communities,” Melissa Henson, Chief Marketing Officer and DEI lead of Manulife Philippines, also shared. "We need better allies, because this is one way by which we can ensure and create safe spaces for each other and foster true inclusion."


Embracing our differences to build a better world with safe spaces


At the webinar, Locsin shared what it means to be an empowered woman, and what she learned throughout her career and life journey. She also shared how women can explore and express their authentic selves. “Women should always be true to themselves. A successful woman, for me, is capable of choosing her own path. We only have one chance, one life, and one shot. Sayang naman kung sasayangin lang sa kung anong opinyon ng ibang tao. Do what is right and what is best for you.” 


Locsin also said women can be like Darna. “Always remember that Darna won’t exist without Narda’s selflessness. If you put others before yourself, may pagmamalasakit ka sa kapwa, may kapasidad ka to be selfless, at tumutulong ka sa mga naaapi, then you are a hero.”


When asked what makes her proud to be an ally, Locsin said: “To be an ally to a community driven by love is an honor. It is about being one with others, and making them feel na hindi sila nag-iisa.”


Meanwhile, Veneracion also shared his lessons as a father of an LGBTQIA+ member, and how parents like him can become more encouraging allies to their children. “I see my daughter as a human being, just as she sees herself. We have to avoid judging and putting each other in boxes. We have the capacity as human beings to expand our consciousness and progress forward – to see with fresh eyes the beauty and uniqueness of everyone.” 


He added that parents should help prepare their children in dealing with the challenges of life. “The best way I can keep them safe as a parent is to help them become strong amid adversities. We have to teach our children to be responsible for their thoughts, words, and action. Their self-respect must have good foundation, and must not depend on external validation.”


San Diego also shared her own coming-out story and how she found the courage and resolve to champion for and represent her community. “Having a supportive environment matters for people like me. Before, when you were a transwoman, people thought you either worked in a salon or beauty pageants. While there is nothing wrong with that, and there are many distinguished women in these industries, we can occupy other spaces and be successful there, too.” 


San Diego added: “Growing up, and until now, I have yet to watch accurate representation of transgenders in the media, so I try to be more visible in the spaces I occupy. We may love or look differently, but at the core of all of us, is the same humanity.”


Moreover, Maxino highlighted how being born with Down Syndrome did not deter her from fulfilling her ambitions. “I have had Down Syndrome since I was a baby. I was told I wouldn’t live long. But my parents did everything they could so that I’d be able to extend my life. Now, I am already 25 years old -- fulfilling my dreams and empowering others like me to do the same.” Maxino said that people with special needs are capable of so much more, “Bullying is very discouraging. My role is to remind people to treat people like us with dignity. We can do more and be more.” Aside from graduating from a regular high school as class valedictorian, Maxino also finished three degrees in college. As the first Filipina teenager among the 10 Special Olympics Sargent Shriver International Global Messengers, she also dined with former US President Barack Obama at the White House. 


Lastly, Dr. Naguit emphasized the importance of having DEI conversations and initiatives to promote mental health and overall wellbeing, whether at home or in the workplace. “Stigma, discrimination and stereotypes create barriers, and create division among people. Mas lalong lumalala, as it creates a general sense of “othering” -- treating others as less because they are different, or discriminating against them. These walls affect our ability to seek support around us.” 


Dr. Naguit added: “The first step to become a better ally is to recognize that we are all connected. This way, we become more empathetic. Empathy is a muscle that grows with exercise. The more we learn to listen and understand others' stories, struggles, and pains, the more we cultivate our empathy.”


Across its various markets around the world, Manulife’s Professionals Reaching Out for Unity and Diversity (PROUD) promotes an inclusive workplace for LGBTQ+ employees to encourage their full and unencumbered contributions at work and educate the wider community about the importance of equality, acceptance, and allyship. Manulife also has the Ability group, which is a community of employees committed to building a positive and inclusive environment for employees of all abilities, and the Global Women’s Alliance (GWA) that supports and encourages the recruitment, development, and advancement of women throughout the organization across countries it operates in. 


Last year, the United Nations (UN) Women 2020 Asia-Pacific Women's Empowerment Principles (WEPs) Awards honored Manulife as one of the Philippines' most gender-inclusive workplaces, and the only insurance brand to have been recognized in the awards.


For those who missed the webinar, you may watch this on Manulife’s Facebook page or visit manulife.com.ph.

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About Manulife Philippines 

The Manufacturers Life Insurance Company opened its doors for business in the Philippines in 1907. Since then, Manulife’s Philippine Branch and later The Manufacturers Life Insurance Co. (Phils.), Inc. (Manulife Philippines) has grown to become one of the country’s leading life insurance companies. Manulife Philippines is a wholly-owned domestic subsidiary of Manulife Financial Corporation, among the world’s largest life insurance companies by market capitalization. Learn more about Manulife Philippines by visiting their website www.manulife.com.ph and following them on Facebook (www.facebook.com/ManulifePH), Twitter (@ManulifePH), and Instagram (@manulifeph).


About Manulife

Manulife Financial Corporation is a leading international financial services provider that helps people make their decisions easier and lives better. With our global headquarters in Toronto, Canada, we operate as Manulife across our offices in Canada, Asia, and Europe, and primarily as John Hancock in the United States. We provide financial advice, insurance, and our global wealth and asset management segment, Manulife Investment Management, serves individuals, institutions and retirement plan members worldwide. At the end of 2020, we had more than 37,000 employees, over 118,000 agents, and thousands of distribution partners, serving over 30 million customers. As of June 30, 2021, we had CAD$1.3 trillion (US$1.1 trillion) in assets under management and administration, and in the previous 12 months we made $31.3 billion in payments to our customers. Our principal operations are in Asia, Canada and the United States where we have served customers for more than 155 years. We trade as 'MFC' on the Toronto, New York, and the Philippine stock exchanges and under '945' in Hong Kong. 


Thursday, August 12, 2021

Boosting User Growth and Expanding Partnerships Keys to Financial Inclusion for Filipinos

GCASH BOOSTING GROWTH


Boosting user growth and expanding businesses are the key strategies to achieving financial inclusion for Filipinos.

This was one of the significant points highlighted by GCash, the country’s no. 1 e-wallet, during the Digital Pilipinas 2021 launch, a forum that is part of the annual World Fintech Festival which brings together Southeast Asia's technology champions.

According to Winsley Bangit, GCash chief customer officer who was one of the speakers during the forum, while GCash has more than 44 million registered users to date, there is still a large opportunity to serve the general public and the underbanked. As such, GCash strives to continuously democratize financial services and innovate on game-changing products for credit, savings, investments, and insurance ensuring that these are accessible, affordable and easy to understand for everyone.

“We do acknowledge that the Philippine market is unique. So at GCash, we are pro-customer with a ruthless focus on the Filipino consumer as we are grounded on improving the everyday lives of Filipinos,” said Bangit. “For this reason, we work with global best practices, world class platforms and partners to serve our customer better.”

On the app, users can make use of GSave, an online savings bank; GInvest, an easy investment feature; GInsure for insurance for medical emergencies such as dengue, COVID-19, and accidents; GCredit, a personal credit line with up to P30,000 credit line and up to 3% prorated interest rate. As a superlife app, GCash also has GLife, the e-commerce feature on the GCash app that allows users to shop exclusive deals from 35 brands across retail, food, gaming, entertainment, and transport.

GCash has formed key partnerships with financial services institutions and with more than 600 billers nationwide to offer relevant and affordable products to customers. CIMB, Atram, and Singlife, for example, have helped GCash launch more affordable financial solutions.

GCash has also partnered with Ant Group Financial, which allowed the app to have access to global and best-in-class platforms and capabilities, enabling GCash to scale up rapidly, while ensuring user security.

Meanwhile, Globe Telecom, known for their nationwide reach in mobile and network, has helped GCash quickly expand its reach and provide exclusive promos to Globe subscribers while Ayala Corporation has opened opportunities for GCash to partner with companies across varying industries.

GCash remains focused on its efforts on nation-building and financial inclusion for all Filipinos and will continue to drive innovation by bringing to life its purpose of making Filipino lives better every day, focusing on its customers, and ensuring the development of its employees to deliver only the best for its users.

Bangit concluded, “Fintech in the Philippines is a very enticing space to be in right now especially with the increased demand for digital financial services. We’re at the forefront of innovation.”

For more information, visit www.gcash.com.

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About GCash

GCash is the leading mobile wallet in the Philippines. Through the GCash app, customers can easily buy load; pay bills at over 600 partner billers in the app; pay at more than 7,000 online partners; send and receive money anywhere in the Philippines; pay using QR codes at over 130,000 partner merchants nationwide; save money while earning interest; and invest money at local and global funds -- all through the convenience of their smartphones.

GCash is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly-owned by Globe Telecom, Inc. GCash was recognized by The Asian Banker (TAB) in 2021 for its outstanding digital financial inclusion programs impacting more than 40 million Filipinos in the country today.