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Digital and Mobile-First CIMB Bank in the Philippines Reports 800% Increase in Customer Deposits, 3 Million+ Users January 17, 2021 @ 7:05 pm By Omar Faridi CIMB Bank Philippines, which aims to transform the Filipino banking experience with its all-digital, mobile-first bank, “offering 24/7 safe and secure banking, bank account opening in just 10 minutes through smartphones,” is reporting that it has managed to double its deposit customer base. Launched in December 2018, CIMB Bank in the Philippines now claims more than 3 million banking clients with an 800% increase in total deposits. Approximately 30% of these deposit customers stated that CIMB was now their primary bank account. During the COVID-19 pandemic, the average balance per customer at CIMB and the average cash-in per customer grew by 350% and 400%, respectively. The bank confirmed that it remains focused on encouraging more locals to save and intends to promote financial literacy in the Southeast As ....
Search Fintech Alliance in the Philippines and Private Business Entities are Supporting Corporate Recovery and Tax Incentives for Enterprises Bill The Fintech Alliance in the Philippines, which aims to support the nation’s economic and social development goals, has teamed up with 43 other private business organizations in the country in order to express their support for the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill. These industry professionals are calling for the quick enactment of this bill into law. Fintech Alliance and the other Philippines-based business groups have asked the nation’s Congress to prioritize this particular bill and enact it during this month (January 2021). ....
SunStar + December 30, 2020 THE inability to process and analyze big data among fresh graduates has been pinpointed by company headhunters as one of the biggest problems in hiring new candidates. While the corporate side has been generous enough to provide short courses for new recruits to speed up competence and compatibility in the company, life-long learning and the establishment of learning roadmaps must be in place to turn Filipinos into digital superstars excelling in the digital transformation sphere, speakers of the recent World Fintech Festival held in the Philippines said. Sprout Solutions co-founder and product head Alexandria Gentry said apart from company-mandated training and self-initiated crash courses by newly minted workforce members, the government must also play an active role in revisiting and restructuring the academic curriculum. ....