CARD Bank among best bank in digital financial inclusion

CARD Bank emerged as the first runner up in the search for 2019 Best Bank in Digital Financial Inclusion Award given by Bankers Institute of the Philippines (BAIPHIL) during its 30th Convention at Baguio Country Club, Baguio City on March 15.

The award aims to see who among the banks in the Philippines exemplified excellence and had increased the efficiency and excel in the banking industry through digital transformation.

“We at CARD Bank are forever grateful for this award given to us. Our journey to digital transformation faced many challenges, but this award reminds us that we are on track and the only way to succeed is to always keep moving,” said Marivic Austria, president and CEO of the bank.

 

Creating more value

CARD Bank is the pioneer microfinance-oriented rural bank in the Philippines to have explored core banking system (CBS), a centralized banking software used to support a bank’s regular banking transactions.

“We invested in advanced technologies and banking systems for us to be able to cope with trends in banking. Most importantly, our journey through digital innovations will create more value for our clients,” said Austria.

In 2017, CARD Bank launched its mobile banking service called konek2CARD to serve its growing multi-channel of customers. It allows the clients of CARD Bank to enjoy a hassle-free banking transaction anytime, anywhere using their smartphone.

By downloading konek2CARD app in Google play store, clients can link their CARD Bank savings accounts to the app and use it to check their account balance and transaction history, pay loans, transfer funds, and deposit (cash in) and withdraw (cash out) funds. Soon, clients can also pay bills and buy e-load.

CARD Bank also organized a pool of konek2CARD agents in every key area where it operates. The konek2CARD agent is CARD Bank’s partner in the community. “Clients can do cash in, cash out or pay their loan through agents.

Just last year also, the bank made history within the microfinance industry by launching its digital cash machine (DCM). The DCM allows CARD Bank clients to withdraw their savings even without using their Matapat ATM card or pledge savings passbook.

“Our clients can now easily withdraw their savings using the QR code generated in konek2CARD mobile application,” said Austria.

According to Macaria Mansit, 56 and a CARD Bank client, using konek2CARD was challenging for her at first because she’s having a hard time using smartphone.

“I am not a smartphone user. So when the konek2CARD application was introduced to me, I had some hesitations considering my age. But I am thankful to CARD Bank’s team because their will to help me cope with new trends in banking is firm,” she added.

Mansit also said that using the app made her save more time instead of going to the bank and pay for her weekly dues at CARD Bank and other bills.

“I no longer have to wait for long queue at the bank to do banking transactions. All I have to do is just connect my smart phone to the internet and click, and then I have the luxury of time to focus on my other daily household and business activities,” she added.

According to Mansit, more clients like her age are also having doubts using the konek2CARD. But she challenged everyone and said “We just have to try and not even worry because CARD Bank is always there for us support and help us learn.”

To date, CARD Bank has more than 100,000 konek2card users and eleven branches with DCM.

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