Cebuana Lhuillier Bank has been committed to use digital technology to enhance its current offerings and introduce new digital bank products that lower costs, increase accessibility, and improve convenience of banking.
The Micro Savings deposit account has four new features that make it an even more potent and dependable full-service savings account. Cebuana Lhuillier Bank has increased its digital banking efforts to help its account holders, called “Iponaryos,” in rural areas. This is in response to the financial needs of underserved and remote communities.
Aside from Cebuana Lhuillier’s over 3,500 branches, these advantages include an unparalleled ease of access to finances made possible by Cebuana Lhuillier Bank’s cooperation with BancNet, which enables Iponaryos to access their money through BancNet’s roster of 26,000 ATMs.
Cebuana Lhuillier Bank President Dennis Valdes says: “While promoting digitized banking to rural folks is a challenge, we have successfully educated them of its benefits through our out-of-branch activities and Iponaryo financial literacy and wellness programs. We have also collaborated with the Bangko Sentral ng Pilipinas to educate unbanked and underserved Filipinos in remote areas with regard to the benefits that an affordable banking lifestyle can provide.”
Through its exclusive BrickTech strategy, an extensive and robust brick and mortar footprint expansion (BRICK), combined with the rapid integration of technological innovation to improve services and increase the range of products (TECH), Cebuana Lhuillier Bank is already playing a major role in the development of rural communities.
Cebuana Lhuillier Bank Vice-Chairman Jean Henri Lhuillier says: “With more than half of the Philippines’ population living in the countryside, CL Bank’s financial inclusion vision is far from being accomplished but very much underway. Our mission has never wavered. We will forge on until every Filipino is financially empowered.”
