With a focus on improving financial inclusion in rural areas, the bank has upgraded its digital banking efforts for account holders, known as "Iponaryos."
The Micro Savings deposit account now features four key enhancements, transforming it into a comprehensive savings solution. Notably, Cebuana Lhuillier Bank's collaboration with BancNet enables Iponaryos to easily access their funds through BancNet's extensive network of 26,000 ATMs, in addition to the bank's nearly 3,500 branches nationwide. Furthermore, Iponaryos can benefit from cashless payments facilitated by the bank's partnership with UnionPay.
Full online access is provided through the eCebuana Mobile App. This app enables Iponaryos to conduct convenient money transfers via Instapay, handle bills and utility payments, and soon, facilitate pawning ticket renewals and jewelry purchases. The app also supports QR Code transactions, ensuring seamless and secure purchase and fund transfer experiences.
These features empower rural Iponaryos to have comprehensive access to Cebuana Lhuillier Bank's products, enjoying the same advantages as other account holders. The convenience extends to BancNet-accredited ATMs and POS, allowing users to make the most of their banking experience.
Cebuana Lhuillier Bank President Dennis Valdes said "While educating rural Filipinos about digital banking presents challenges, we've successfully demonstrated its benefits through outreach and financial literacy programs. Collaboration with BSP empowers unbanked Filipinos to understand the value of affordable banking."
"With over half the Philippine population residing in rural areas, our financial inclusion vision is ongoing. Our mission remains unwavering: to empower every Filipino financially," said Cebuana Lhuillier Bank Vice-Chairman Jean Henri Lhuillier.
Cebuana Lhuillier Bank's enhanced Micro Savings account and commitment to financial inclusion play a crucial role in bridging the digital divide and empowering rural communities across the Philippines.
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