{"id":158706,"date":"2018-04-03T05:50:14","date_gmt":"2018-04-03T09:50:14","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=158706"},"modified":"2018-04-03T05:50:14","modified_gmt":"2018-04-03T09:50:14","slug":"local-thrift-banks-embrace-innovations","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2018\/04\/03\/local-thrift-banks-embrace-innovations\/","title":{"rendered":"Local thrift banks embrace innovations"},"content":{"rendered":"
\"File<\/a>
File photo (Photo: PTV\/Facebook<\/a>)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0— Officials of the Chamber of Thrift Banks (CTB) are open to innovations on financial technology, citing the advantages towards further servicing their niche market.<\/p>\n

In a statement, CTB President Gregorio B. Anonas III said thrift banking players \u201care aware of the shift in the digital behavior of our clientele.\u201d<\/p>\n

\u201cThrift banks have embraced these new technologies and are maximizing these technologies to ensure faster, better and more affordable services,\u201d he said.<\/p>\n

Anonas said there is a need to accept the latest technological innovations, thus, the adoption of the theme \u201cBanking on Disruptive Technologies\u201d for CTB\u2019s annual convention to be held on April 10.<\/p>\n

TBs, he said, need to adopt to disruptive technologies such as robotics, blockhain, cloud-based computing as well as artificial intelligence (AI) to help their clients, especially those living in far-flung areas.<\/p>\n

Recently, CTB partnered with FINTQ\u2019s Lendr, the financial technology arm of PLDT and Smart\u2019s Voyager Innovations, to reach more consumers through a single online market place for loans.<\/p>\n

Lendr data showed that about eight of its 10 borrowers are based in the province and about 26 percent of them are residing in low-income cities and municipalities.<\/p>\n

Since TBs are focused on small and medium enterprises (SMEs), Anonas said using financial technological innovations will allow them to reach more clients and entice more customers for their micro consumer loans, automotive and housing loans and the like.<\/p>\n

To date, CTB has about 47 thrift bank-members with more than 2,400 branches nationwide.<\/p>\n

As of end-December 2017, the industry has served about 6.8 million deposit accounts, which has a share of about eight percent of the country\u2019s banking system, and has a loan portfolio accounting for at least 31.43 percent of the total or around PHP269.78 billion.<\/p>\n

Francisco A. Dizon, CTB 2018 convention chair, said tapping the opportunities being provided by latest technological innovations in finance will further boost the thrift banking industry\u2019s stability.<\/p>\n

\u201cBy harnessing the opportunities that come with disruptive technologies, we are confident that the thrift banking industry will maintain its stability and post sustained growth in resources, lending and profitability,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0— Officials of the Chamber of Thrift Banks (CTB) are open to innovations on financial technology, citing the advantages towards …<\/p>\n","protected":false},"author":33,"featured_media":158707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[49242,49243,49244],"class_list":["post-158706","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-chamber-of-thrift-banks","tag-ctb","tag-gregorio-b-anonas-iii","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/158706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=158706"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/158706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/158707"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=158706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=158706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=158706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}