{"id":278309,"date":"2020-12-10T21:56:54","date_gmt":"2020-12-11T02:56:54","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=278309"},"modified":"2020-12-10T21:56:54","modified_gmt":"2020-12-11T02:56:54","slug":"bank-exec-cites-need-to-up-filipinos-digital-know-how","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/12\/10\/bank-exec-cites-need-to-up-filipinos-digital-know-how\/","title":{"rendered":"Bank exec cites need to up Filipino’s digital know-how"},"content":{"rendered":"
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Digital banks that are applying for license with the Bangko Sentral ng Pilipinas (BSP) are also required to have a PHP1 billion capitalization, which makes them financially strong to improve on other capabilities. (Pixabay photo)<\/figcaption><\/figure>\n

MANILA<\/strong>\u00a0\u2013 A bank executive said on Thursday going fully digital is not the best solution right now in addressing customers\u2019 needs, citing the need to educate clients first so that they can fully benefit from technological innovation.<\/p>\n

In a virtual briefing, Rizal Commercial Banking Corporation (RCBC) chief executive officer Eugene Acevedo also said he considers the incoming digital banks and telecommunication companies (telcos) as competitors in catering to customers\u2019 payment transaction requirements.<\/p>\n

He said telcos, for one, have customer base that uses the companies\u2019 payment service capabilities.<\/p>\n

Digital banks that are applying for license with the Bangko Sentral ng Pilipinas (BSP) are also required to have a PHP1 billion capitalization, which makes them financially strong to improve on other capabilities.<\/p>\n

Acevedo, however, said most Filipino consumers still look for bank branches whenever they have issues with their accounts.<\/p>\n

\u201cThey have that psychological bridge that they need to cross. A fully digital bank, at this point, is not yet a feasible solution. They need to close that psychological bridge,\u201d he said.<\/p>\n

Acevedo said RCBC also does not need to cross the said psychological bridge.<\/p>\n

\u201cWe already are trusted to hold customers money. We have branches\u2026that give them a big sense of comfort,\u201d he said.<\/p>\n

Acevedo said are keeping their branches but are also maximizing mobile channels to fully cater their clients\u2019 needs.<\/p>\n

He said they are also strengthening their workforce as well as their consumer education programs on the use of mobile channels so that their clients do not need to go to branches to do their financial transactions.<\/p>\n

\u201cWe need to do better. We need to feel what the customers are feeling\u2026We continue listening to our customers and keep improving on what we have,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA\u00a0\u2013 A bank executive said on Thursday going fully digital is not the best solution right now in addressing customers\u2019 …<\/p>\n","protected":false},"author":44,"featured_media":260407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-278309","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-joann-villanueva","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/278309","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=278309"}],"version-history":[{"count":1,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/278309\/revisions"}],"predecessor-version":[{"id":278311,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/278309\/revisions\/278311"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/260407"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=278309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=278309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=278309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}