The rural banking industry of the Philippines is underway with a massive digital awakening. Building on this momentum, MobiFin, a forward-looking digital banking and payments platform, participated in the recently concluded RBAP 2024 Symposium, held on June 4th and 5th in the Philippines.
This high-impact event by the Rural Bankers Association of Philippines (RBAP) was a premier platform, bringing together leading thinkers, policymakers, and key decision-makers within the Philippines rural banking industry.
Mr. Rafael Francisco D. Amparo, Executive Director of the RBAP, said, “Rural banking in the Philippines faces multifaceted challenges, from limited access to modernized digital infrastructure to navigating regulatory environments. The presence of innovative solutions providers like MobiFin at the RBAP 2024 Symposium emphasizes the importance of collaborative efforts in addressing these challenges and driving progress and inclusion within the rural banking sector.”
Engaging Discussions and Fruitful Insights
RBAP aims to shape the future of banking by highlighting technologies, platforms, and frameworks that empower the modernization and transformation of rural banking.
An avid symposium participant, Raymond Serios, General Manager at Dungganon Bank Inc., remarked, “Rural Banking 2.0 represents a crucial step forward in our digital transformation journey. It offers us the opportunity to leverage cutting-edge technologies and drive growth. We look forward to aligning with the ethos of industry-wide digital advancements advocated by focused events like the RBAP 2024 Symposium.”
MobiFin is passionate about delivering breakthrough digital transformations to meet the evolving needs for modernizing rural banking services. Banking technology experts from Team MobiFin attended the RBAP 2024 Symposium to connect with industry leaders, peers, and banking representatives.
Insights and Impact – A Session on Rural Banking 2.0
The Symposium hosted an insightful session on ‘Rural Banking 2.0’ by Amir Yazdapanah, Chief BDO, at MobiFin.
Amir said, “The Philippine banking landscape is undergoing a metamorphosis, with institutions prioritizing the creation of a frictionless digital experience for the rural citizens. As pioneers and leaders in digital banking solutions, we are thrilled to showcase our industry-leading rural banking solutions at the RBAP 2024 Symposium. Our solutions cover the entire spectrum of rural banking.
We offer simple and convenient solutions for banks that have yet to adopt digital services. These will help them to improve operational efficiency, cut expenses, and increase reach. We also provide next-gen innovations for those that already offer digital banking so that they can address the growing demand of the new breed banking customers and drive exponential growth.”
Here are some of the next-gen digital solutions for rural banks that MobiFin presented at the RBAP 2024 Symposium:
- Digital Core Banking Solution
- Loan Origination & Management Systems (LOMS)
- Mobile & Internet Banking
- CASA & Term Deposits
- Tab Banking
- Cash Flow Management
- Cloud-based SaaS Platform
Charting a Path to Digital Growth
Through digital transformation, rural banks can open up new growth possibilities and empower the entire community. Digital channels give rural banks ‘borderless reach,’ enabling them to serve a more extensive customer base.
The best way for rural banks to embrace digital change is to collaborate with FinTech companies. With FinTech solutions, rural banks can widen their offerings and leverage innovative platforms and product suites. Moreover, strategic partnerships through Agency Banking (also known as Tab Banking) aid in extending physical reach and accessibility.
MobiFin Core Banking Solution is curated to meet the evolving customer expectations of tech-savvy Filipinos, particularly millennials. By utilizing such digital opportunities, rural banks can remain relevant and competitive in the dynamic financial industry.
MobiFin has served over 200 banks and enterprises across 25+ countries, accumulating 20+ years of invaluable experience in digitally transforming banking and financial operations with next-gen solutions.
Banking leaders who missed being present at the symposium can learn more about the next-gen digital solutions for rural banks by connecting with MobiFin.
About MobiFin
Founded two decades ago as a fintech division of the Bankai Group, MobiFin is a state-of-the-art digital financial platform. It is meticulously designed to empower banks, fintechs, telecoms, credit unions, and digitechs, enabling them to elevate customer experiences.
Whether your focus is payments, banking, embedded finance, or transaction processing, MobiFin provides the ideal foundation for the next-generation use cases.
