Adventures of a Diva Princess: Banking

Bank of the Philippine Islands (BPI) inaugurated the new BPI Makati Main Branch, its biggest branch in the Makati Central Business District. The current footprint of 2,943 sqm will be expanded come December 2020, adding another 179 sqm.

BPI Chairman Jaime Zobel de Ayala (5th from left), President and CEO Cezar P. Consing (2nd from left), and Sales and Service Channels Head Angelie King (4th from left) lead the ribbon cutting ceremony of BPI Makati Main, the bank’s biggest branch in Makati in terms of size and deposits. They are joined by (from left): Business Manager Melot Jimenez, Area Business Director for Makati Central Jojo Gasa, Head of Private Banking Time Chuidian, and Division Head for South Luzon Olga Ang.

The new branch is intended to serve all client segments and will offer specialized banking services.

BPI Makati Main is sectioned into five different parts, each with its own function corresponding to retail banking, preferred banking, private banking, offices, and shared spaces and utilities. The branch has lounges for preferred clients and meeting spaces for retail clients.“

Personal Banking section of BPI Makati Main branch where clients can lounge and and have access to services such as cash deposit, cash withdrawal, encashment, bills payment, and more.

“We envision high-value interactions with our clients in our branches to complement the efficiency and convenience of our digital channels,” said BPI President and CEO Cezar P. Consing.

The design of the flagship branch is reflective of BPI’s heritage, highlighting how the Bank looks to the future while valuing its rich history of 168 years.

BPI Chairman Jaime Augusto Zobel de Ayala honors the legacy of BPI by establishing its biggest Makati branch in one of the first buildings in the Makati Central Business District where its previous Head Office stood.

“While we provide the tools that allow our clients to do self-service with high tech, it is important that we have high quality face-to-face interactions with them as well. When clients visit the branch, we ought to make it worth their while,” Consing said. “It’s about combining high tech with high touch,” he added.

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It is a sad truth that many Filipinos in the labor force live from payroll to payroll. There's not enough left even to save money. For the rest, many are still unbanked so the idea of saving is far from their mind. It's a good thing that the financial inclusion campaign is bent on fixing this issue. As the tide of encouraging the unbanked to save continues to flow, there are good news in the financial world such as the case of CIMB Bank Philippines (CIMB Bank PH) as they announced that it has garnered 500,000 customers, approximately six months after opening its doors for business in the Philippines. The milestone was reached anchored on a strong proposition of co-creation and partnership between CIMB Bank and GCash.

The all-digital, mobile-first CIMB Bank PH, was launched in early 2019 with a goal of bringing a unique and differentiated banking proposition to Filipinos. Anchored on a DNA of strong strategic partnerships and solving customer pain points digitally, CIMB Bank PH had forged a partnership with GCash, to allow GCash’s customers direct, paperless and seamless access to savings account services, a product termed GSave. GCash is an epayments platform owned by Mynt, the revolutionary fintech startup of Globe Telecom, Ayala Corporation and Ant Financial, an affiliate of Jack Ma’s Alibaba Group.

Tengku Dato’ Sri Zafrul Aziz, Group CEO, CIMB Group, who was in Manila to celebrate this milestone said, “CIMB Bank PH is surely the fastest growing bank in ASEAN, a wonderful achievement, and a strong testament of things that can be achieved in the regime of digital-only banks. We are motivated by this and will continue to innovate for our customers. Well done to the teams.”

In line with this, CIMB Bank PH and GCash also announced that the GSave bank account will be exclusively offered only on the GCash platform. The companies also said they will be working together to make added suites of financial services products available to GCash customers in the future. These services will be announced in due course.

Zafrul added, “The partnership with GCash was central to us achieving this milestone. It is a live case study of bank-tech partnerships, a combination of banking expertise and technology platform plays, and the opportunities it allows both parties to access. I look forward to developing more propositions with GCash to further establish our mobile banking presence in the Philippines.”

Anthony Thomas, President and Chief Executive Officer of GCash affirmed its shared mission with CIMB Bank to increase accessibility of financial products and services for all Filipinos. “The acquisition of 500,000 users is a clear testament that the partnership between GCash and CIMB Bank through GSave is a success. We welcome this achievement and the deepening of our collaboration with CIMB Bank, and assure our users that we will continue to provide more innovative services to address the banking and financial needs of Filipinos who aspire for financially better lives for their families.”

The 500,000 GSave users are now enjoying the benefits of CIMB’s savings account, which is available as the Save Money feature on the GCash app. GSave offers an interest rate of 3 percent per annum, which is more than ten times higher than those interest rates offered by most Philippine banks.

Additionally, GSave does not require an initial deposit or maintaining balance, nor does it impose service charges for transactions—greatly reducing the barriers for ordinary Filipinos to open and maintain a savings account.

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Citi credit cardholders will have a better, easier, and more personalized digital banking experience with the new and improved Citi Mobile App. The next generation mobile app features groundbreaking capabilities and innovative functionalities that allow users to do more.

Manoj Varma, Citi Philippines consumer business head said, “We at Citi are highly committed to expanding and enhancing our digital capabilities for the ease and convenience of our customers. We are passionate about meeting and exceeding our customers’ expectations.”

Citi Philippines CEO Aftab Ahmed (left) and consumer business head Manoj Varma

Citi’s next generation mobile app provides a comprehensive suite of features such as credit card locking and unlocking, a personalized dashboard, easy conversion of retail transactions to installments, and viewing and downloading of recent statements and utility bills with just a few taps.

The Citi Mobile App is aligned with Citi’s commitment to digital transformation with a goal of making banking as easy and convenient as possible. Citi continuously enhances its capabilities to make customers’ digital journey more seamless, whether on desktop, mobile app or phone browser.

More than 60 percent of Citi Philippines customers are already enrolled in digital channels, with even more customers subscribing to electronic statements. Today, the biggest growth in digital enrolment has been in mobile banking, which has grown 64 percent in the last 12 months.

Citi Philippines consumer customer franchise head Roy Villareal and Citi Philippines public affairs head Lisa Coory

The mobile app is just one of several innovations Citi has introduced in the country. In recent years, the bank launched new services including live chat, instant global fund transfers and a pioneering voice biometrics technology that allows customers to be identified through their unique voice prints.

For its contributions to the growth of mobile banking in the country, Citi has received several prestigious awards including Best Retail Mobile Experience – Philippines at the Asset Triple A Digital Awards 2017, Best Internet Banking Initiative at the Asian Banker Philippine Country Awards 2017 and Best Consumer Digital Bank – Philippines at the Global Finance Best Digital Bank Awards 2017.

To know more, visit www.citibank.com.ph.

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At the age of 7, my parents instilled in me the value of savings and how important it is to have “something for the rainy days.” When the popularity of the “Happy Savers Club” was at its peak, I have the sole decision to transfer my account there, well simply because I was crazy over Sanrio and savings is more fun because of it. And wouldn’t you know it,” rainy days” for me was desperately buying that Little Twin Stars’ pencil case.

I also have a second bank account simply because there’s another bank in Lucena that time which gave away a very big pen if you open an account with a minimum amount of five hundred pesos. I remember pooling my baon for a month (luckily it was December then) just to get that ballpen. Looking back, I can’t believe I have two bank accounts even before I graduated from grade 6. The feeling of security of having money in the bank is great and I have this mentality that I am free to spend it whenever.

Just like then, today’s children also have their own goals and dreams that they want to achieve. From something as simple as buying the latest toy or gadget, to surprising their parents with a gift on their special day, kids want to have their own money so they can experience the feeling of spending freely.

This is the reason why it is advisable to start them early on their financial journey. As parents of this eager young generation, it is important to guide them as they make their own decisions and show them the value of saving and how to handle their finances wisely.

Building a secure financial foundation

One of the most effective ways parents can first teach their children to save money is by letting them own a piggy bank. Coin banks encourage them to save a portion of their allowance and grow their money over time. In return, kids can use their savings to buy the things they want while at the same time learning the value of patience and perseverance.

Budgeting can also work for kids and teens who are given weekly and monthly allowances to spend. With a given budget, they can learn how to smartly plan for their expenses and prioritize where to use their money. This shapes them to become responsible and wise spenders in the future.

Once they get used to saving in a piggy bank, the next step is to open their own bank account. Having their own personal savings accounts, kids can learn independence and responsibility in managing their finances early in life. Likewise, it helps them grow and mature to become financially savvy individuals.

Aside from teaching kids to save money, parents can also guarantee a stable financial foundation for the young ones by getting them insured. With life insurance, parents can have greater peace of mind knowing their kids are covered from any unfortunate events. It also gives children security and freedom to enjoy life without any worries.

One of the most child-friendly banks that parents can trust in helping shape their kids to become smart young investors is RCBC with its new GoSavers Kiddie and Teen Savings Account. It comes with its own debit card and passbook that will assist children in tracking their hard-earned savings. It is also the first start-up savings account in the country that offers a comprehensive insurance package for both parents and the child.

With only a minimum initial deposit of P100, parents can already open a GoSavers account for their child. To qualify for the free Sun Life Grepa insurance, the account holder must make an initial deposit or maintain a 6-month average daily balance of at least P10,000. It promises lifelong protection for the family with its life insurance for the parents and personal accident and accident medical reimbursement for the child.

At the launch of RCBC GoSavers earlier held at the Test Kitchen Pasong Tamo, it was pointed out how it is important to start them young in saving, Emmanuel Valdes, Senior Vice President and Head of Deposit Products and Promotions Division shared that,“Our goal has always been financial inclusion for all Filipinos and part of that is educating children on how to save and manage their own finances.” He also that RCBC want to create a savings-conscious generation where the bank can enable and show to these kids how to intelligently and consistently grow their money for their own future.

With the RCBC GoSavers, parents can enjoy the guarantee of a secured financial future and safety for their kids. It is open to children 21 years old and below and they can either apply online through www.rcbc.com/Personal/GoSavers or drop by at any RCBC branch nationwide.

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Rizal Commercial Bank Corporation (RCBC), one of the leading universal banks in the Philippines, unveiled its new corporate logo and tagline “We believe in you,” last July 15, 2017 at Whitespace Makati. The launch signal the start of a new era of providing excellent and trusted banking services for Filipinos.

For nearly 57 years, RCBC has provided excellent business in the Philippines. With this launch, RCBC reached another milestone signalling “the arrival of a more committed, refreshed and re-energized RCBC, that is ready to meet the demands of the ever-changing Philippine banking industry,” according to RCBC President and CEO Gil A. Buenaventura.

“We believe in you” is not just a tagline for RCBC, but a battle cry to show our unwavering support and trust to the indomitable Filipino spirit. At the same time, this new corporate thrust is meant to encourage Filipinos not only to dream, but to pursue their passions and dreams, and turn them into reality – whether it’s traveling to your dream destination, venturing into a new business, or purchasing a new home or car,” Buenaventura stressed.

The simpler, younger and more minimalist logo embodies RCBC’s new mission of being more accessible to younger Filipino depositors, who are looking for better ways to save and grow their money, the RCBC president added.

Ces Natividad, RCBC Chief Marketing Officer, reveals that the new logo and corporate tagline are the bank’s response to the changing market.

“We wanted to know what products and services today’s depositors actually need, and we strived to understand what makes them believe and trust a particular bank. We realized that today’s depositors need an approachable bank that responds to their needs, and believes in the value of their dreams and aspirations,” Natividad shared.

“RCBC wants Filipinos to know that the bank believes that there is no limit in the things they can achieve if they decide to start building their future early, especially with a strong banking partner, ready to advise them every step of the way. We are providing more emphasis to younger depositors, who need more guidance in managing their money,” Natividad added.

It was cited that one-third of the Philippine population are millennials and that 47.1 percent of the 42 million labor force belongs to the 15-34 age group. This means that more and younger Filipinos need bank services to manage their finances.

Several RCBC products that millennials can avail includes RCBC’s Debit Cards, which depositors can get when they open an RCBC savings or checking account. They also offer RCBC’s product portfolio which customers can manage online such as the Unit Investment Trust Funds and iSave, an automatic deduction from existing RCBC accounts, done every payroll, which helps depositors to set aside money for future use. Whereas the unli 0% option of RCBC Bankard, gives cardholders the flexibility to manage their expenses.

As RCBC takes on a fresh, new road to better serve its customers, the bank will remain committed to its promise: We Believe In You. In conclusion, Natividad added, “We are confident that the new brand logo and corporate tagline, as well as the re-energized service of the bank, will resonate with more Filipinos. We believe that they can accomplish even greater things if they put their hearts and mind into it, and RCBC will always be their partner to help them succeed.”

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Online shopping is the eight wonder of the world. It is for most people who doesn’t want to leave the house and shop anytime whilst they sit, no queues to get annoyed with and items delivered right at your home. As a self-confessed online shopper aficionado, these are the best part of online shopping. But there are moments I get paranoid and think what if somebody hacked my card etc. Good thing the bank where I maintained an account has EON Duo.

EON Duo is a digital credit card specially designed to give you peace of mind when shopping online, like in Amazon and eBay, or paying for services in apps like Uber and Spotify.

It’s all digital!

Your credit card details are safely kept yet easily accessible through the EON app or logging in to the EON website. Moreover, no more bills delivered at your home since it has on-time paperless billing and real-time alerts.

It’s safe and worry free!

Through the EON app or logging in to the EON website, you can lock your card at anytime and no charges will be allowed. You can also change your CVV, the three-digit number you would find at the back of a plastic credit card, but unlike a plastic credit card, you can change it whenever you please with EON Duo. What’s more, don’t let unwanted websites and apps charge your account for purchases you didn’t do. Spare yourself the hassle by coming up with your list of trusted webstores and only charges from them will be allowed to go through.

Free of annual fees!

When you get an EON Duo, you also get an EON Lite account free of annual fees. Pay your bill using your EON Lite account and your payment is posted immediately. Of course, you also get your free subscription to My Shopping Box. With your free subscription to My Shopping Box, you get your own US address where you can ship stuff you buy online. Once your stuff arrives, just log in to www.my-shoppingbox.com to have your stuff delivered to your doorstep at very affordable rates!

Isn’t that cool?

To find out more, visit www.eonbankph.com/experience/duo, Facebook /eonbankph, or Twitter @eonbankph.

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The first bank that utilizes the digital world and attracts its customers through a website has something up in its sleeves again as Citi Philippines; the country’s leading foreign bank continues their aggressive bid to be the number one digital bank in the country as they launched new digital partnerships, products and services.

The latest digital innovation comes in the form of online credit card application and approval program which is certainly a first in the country.

During the launch held on March 16, 2017 at the Discovery Primea Makati, Director for Credit Payment Products Mr. David Stoughton briefed members of the media how fast and easy the new credit card application with Citi would be and said that their clients can expect to get credit approval online faster once they complete the simplified application form and submit digitized copies of required documents.

More than that, with the digitized application and approval process, a client will know in minutes if he or she is qualified for a Citi credit card. No more waiting. “This is a game changer as we continue to look at our products and services, and accelerate digitization to deliver remarkable client experiences,” said Stoughton.

Citi also digitized its rewards – clients who prefer to submit applications through promotion booths in shopping centers or travel exhibits because of attractive turn-in gifts will be pleased to discover they won’t be missing out just because they will do it online.

From now until April 30, complete an application online and receive an electronic voucher you can redeem for an Auntie Anne’s pretzel and iced tea. Upon approval, clients who are getting their first Citi credit card and make a purchase of P20,000 or more within 60 days are also eligible to get a Fitbit Charge 2 fitness wristband.

Another groundbreaking partnership with leading digital retailers such as the Amazon is that credit card holders can now use their Rewards Points to pay for purchases with Amazon.com. Our country is next after Thailand to do this with a card.

On average, Citi announced a new digital innovation or partnership fortnightly in the last 12 months across Asia. During 2016, Citi announced strategic partnerships in leading digital ecosystems across the region. Some of these included Alipay and WeChat in China and Line in Thailand and Taiwan. The bank also formed digital credit card partnerships with the likes of Airbnb and Uber in various countries. The bank’s social media followers in Asia grew from 3million to over 10million during 2016.

In the Philippines, its regional digital partners include: Booky, an offline restaurant finder; Zennya, the world’s first spa on-demand app; Lazada, the leading online shopping mall in the country; and Grab, Southeast Asia’s leading ride-hailing platform, to name a few.

In the country, Citi’s ongoing promotions with leading travel sites including Asiatravel (grab 12% off on hotel bookings until June 30, 2017); Agoda (get 10% off on hotel accommodations year-long); Expedia (enjoy 8% off until October 2017); and Airbnb (on first stay, get P1,800 off until November 15, 2017).

Beyond travel, expect to also enjoy exclusive discounts when shopping online with Citi credit cards.

15% off at POBox.ph (until March 31, 2017) and Shipping Cart (for air and shipping fees until July 31)

12% off at Zalora year long

10% off at Galleon.ph until July 31

Island Rose extends 10% off year long

Isn’t that amazing? Why not apply online now and you will be greatly rewarded with your Citi card.

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