#EveryJUAN Included: A Drive to Digitization and Modernization as the Path for Financial Inclusion October 30, 2024, La Union – The picturesque city of San Fernando was abuzz as Rural bank leaders, stakeholders, and technology advocates gathered for their general assembly in partnership with Exist Software Labs, Inc.

This collaborative event between Exist and the La Union Chamber of Rural Banks (LUCRUB) marked a pivotal moment in the journey toward digital banking transformation and modernization for rural banks. The event was a testament to the shared vision of empowering underserved communities and expanding access to essential banking services for Every Juan.

1. Highlights from the Event: Round Table Discussion and Thought Leadership

The event featured an engaging round table discussion with industry experts and leaders addressing the pressing need for digital transformation in rural banking. This collaborative format encouraged an open exchange of ideas and insights on how technology can reshape the banking landscape. Key points from the discussion included:

The Role of Technology in Financial Inclusion: It was highlighted how leveraging digital tools can significantly extend banking services to the unbanked and underbanked. Solutions such as online onboarding, mobile internet banking, Loans Management System, and Human Resource Information System (HRIS) were emphasized as transformative, making banking more accessible and relevant. A case study was presented, demonstrating that the implementation of digital technology in banking leads to increased customer engagement and strengthens the bank’s position within the community.

Challenges and Opportunities: The round table shed light on the regulatory hurdles and infrastructure readiness that rural banks must navigate. Experts discussed best practices for implementing scalable digital solutions, noting that Exist’s innovations are adaptable and integration-ready, from cloud to on-premise solutions. This flexibility ensures that banks can adopt technology tailored to their specific needs and use it efficiently.

Customer-Centric Solutions: A major theme was the importance of digital modernization in enhancing customer experience and operational efficiency. The discussion focused on empowering banks to not only improve their service delivery but also place the customer at the heart of their strategies. Solutions that promote customer-centricity were showcased, emphasizing that successful digital transformation must prioritize the needs and experiences of the end-user to foster trust and loyalty.

2. Discovery Sessions with Partner Banks

Exist BFS proudly facilitated discovery sessions with several prominent rural banks:

Rural Bank of Rosario: This engaging session highlighted Exist’s forward-thinking solutions that cater to the unique challenges faced by rural financial institutions. The discussions underscored the bank’s commitment to enhancing digital enablement to better serve their clients.

Rang-Ay Bank: Exist’s collaboration with Rang-Ay Bank showcased an in-depth exploration of tailored digital solutions that align with the evolving needs of rural banks. This session reaffirmed both organizations’ dedication to fostering an inclusive financial ecosystem.

Ilocos Consolidated Cooperative Bank (ICCB): A partnership session that emphasized the importance of adaptability in digital finance. The conversation centered around Exist’s innovative solutions that are both accessible and responsive to the changing landscape of banking.

3. Why Modernization Matters for Rural Banks

Rural banks play a crucial role in fostering economic growth and financial stability within their communities. However, without modernization, they risk falling behind in a competitive digital landscape. By adopting advanced banking technologies, rural banks can:

Expand Their Reach: Digital platforms enable banks to extend their services beyond physical branches, reaching remote areas where banking access is limited.

Improve Efficiency: Streamlined operations result in better resource allocation and faster service delivery.

Enhance Customer Experience: User-friendly digital services, such as mobile and internet banking, provide customers with the convenience they need in today’s fast-paced world.

A Heartfelt Thanks and a Look Ahead

Exist extends its deepest gratitude to the La Union Chamber of Rural Banks for the opportunity to collaborate on this meaningful event.

We are eager to continue working together to bring inclusive banking to life, ensuring that Every Juan is included in the digital revolution. Special Acknowledgements: We would like to express our gratitude to the following individuals for their valuable participation and support during this event:

ICCB: Mr. Ruben R. Habon, President
RB Rosario: Ms. Florence A. Emperador, CCO
Cooperative Bank of L.U: Ms. Marjorie E. Aquino, CO
RB of Bauang, Inc: Ms. Rose Ann Parentela, Loans Bookkeeper
Rang-Ay Bank: Ms. Gloria M. Alcantara, Accounting Head
Rang-Ay Bank: Mr. Francis De Los Santos, VP for IT and Security
Rang-Ay Bank: Ms. Shane H. Aspuria, CO
Rang-Ay Bank: Mr. Ives Nisce, President and CEO
RB Rosario: Mr. Bong Tabora, President
RB Rosario: Mr. Nicholo Tabora, Director
RB Agoo: Mr. Eleazar L. Torco, CO
Bannawag Bank Inc.: Ms. Maricar Benilda Collado, Manager / Director
RB of Supiden: Ms. Felimar E. Solano, President / Manager

A special thanks also to Atty. Krisanto A. Bela-O, Benguet Center Bank, Inc. Director and RBAP Region 1 Director for gracing the event.

The successful conclusion of the Exist X LUCRUB event solidified a shared commitment to fostering a financial landscape where technology and community thrive hand in hand. As we look ahead, the journey to digital transformation for rural banks continues—a journey where no Juan is left behind.

Together, let’s build a Future of Inclusive Banking 

Together, we are shaping a future where innovation and inclusivity go hand in hand, empowering rural banks to become beacons of progress and accessibility.

By prioritizing convenience and leveraging fintech digital banking innovations, banks can foster long-lasting customer relationships, drive growth, and solidify their position as industry leaders.

Join our movement where NOJuan is left behind.

Go Digital, Go Inclusive: Every JUAN Included – A Drive to Financial Inclusion.

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