#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.

#WeExist
#ExistinDigitalBanking
#ExistinInclusiveBanking

As digital transformation continues to reshape industries, it is critical for the banking sector to ensure that seniors and persons with disabilities (PWDs) are not left behind.

In a world where banking is becoming increasingly digital, ensuring accessibility and inclusivity for vulnerable populations has never been more important. Banks in the Philippines, in particular, must rise to the challenge, utilizing innovative banking IT solutions to make financial services more accessible to all.

With the help of forward-thinking partners like Exist, a leading digital banking solutions provider, the industry can transform digital banking for inclusivity.

The Challenges of Inclusivity in Banking

For seniors and PWDs, accessing digital banking services can be a significant challenge.

Barriers such as unfamiliarity with technology, lack of accessibility features, and concerns about online security make it difficult for these groups to fully engage with modern financial services.

As banks shift their operations online, failing to accommodate these groups means perpetuating financial exclusion, something no responsible financial institution can afford.

Key challenges include:

Accessibility Barriers: Many existing digital banking solutions lack user-friendly design for individuals with visual, auditory, or physical impairments.

Technology Literacy: Seniors often face difficulties adapting to new technology and navigating complex digital interfaces.

Security Concerns: Older adults are frequently targeted by online fraud, making secure, intuitive solutions imperative for building trust.

How Exist is Transforming Digital Banking for Seniors and PWDs

Exist is a leading digital banking software provider with expertise in creating innovative, accessible, and secure financial solutions. Our customizable platform addresses the critical need for inclusivity in the banking industry, offering tailored solutions that meet the unique needs of seniors and PWDs.

Key Features of Exist’s Digital Banking Solutions:

Security-First Approach: We offer robust cybersecurity features such as multi-factor authentication, encrypted transactions, and secure biometrics. This ensures that seniors, who are often wary of online fraud, can feel secure when managing their finances through digital channels.

Personalized User Experiences: Our solutions provide banks with the ability to create custom-tailored digital experiences for seniors and PWDs. This includes simplifying complex transaction processes, enabling voice-activated commands, and creating educational tools that help seniors navigate the digital banking landscape confidently.

Seamless Integration: Our banking IT solutions integrate smoothly with existing banking infrastructure, making it easier for institutions to deploy digital services that prioritize inclusivity without overhauling their core systems.

The Role of Banking Leaders in Driving Inclusivity

Decision-makers in the banking industry have the responsibility to lead the charge in creating inclusive financial environments. By leveraging innovative digital banking solutions from providers like Exist, banks can ensure their platforms are accessible, secure, and easy to use for all demographics, including seniors and PWDs.

This approach is especially vital in the Philippines, where digital banking is rapidly expanding, yet underserved groups like seniors and PWDs still face barriers to access. Leaders must prioritize partnerships with digital banking solutions providers in the Philippines to ensure that their services reach the entire population.

Practical Steps for Inclusive Digital Banking

Here are some ways banks can utilize banking technology solutions to empower seniors and PWDs:

• Simplify Onboarding Processes: Collaborate with a digital banking solutions provider like Exist to streamline onboarding, making it easier for seniors and PWDs to open accounts and access services without unnecessary hurdles.
• User Education: Offer educational resources, both online and in branches, that help seniors and PWDs understand how to use digital banking platforms. These resources should be designed in collaboration with online banking solution providers to ensure clarity and accessibility. Continuous
• Feedback Loop: In partnership with fintech digital banking experts like Exist, banks can create ongoing feedback mechanisms to ensure that the needs of seniors and PWDs are continuously addressed. Regular updates to the platform can be made based on user feedback to improve accessibility features.
• Security Enhancements: Protect seniors and PWDs from cyber threats by implementing advanced security measures like biometric logins, OTP generators, and fraud detection systems in collaboration with digital banking solution companies like Exist.

Why Exist Is the Right Partner for Your Bank?

Exist is more than just a digital banking solution provider; they are a partner committed to driving inclusivity in the financial sector. Their advanced technology solutions not only enhance accessibility for seniors and PWDs but also provide the security and personalization that build trust and foster engagement.

As the banking industry continues to evolve, working with innovative partners like Exist enables institutions to stay ahead of the curve. Whether you’re looking for banking IT solutions or a digital banking solution provider in the Philippines, Exist offers the tools and expertise to create a truly inclusive digital experience.

Together, let’s build a Future of Inclusive Banking 

In the digital age, it is critical that no one is left behind, particularly seniors and persons with disabilities. Banking leaders must champion inclusive innovation, ensuring that their digital platforms are accessible, secure, and tailored to the needs of every customer.

With the right partnerships, such as with Exist’s Software Labs Inc, the industry can bridge the digital divide and empower every Filipino to participate in the financial ecosystem.

Join our movement where NOJuan is left behind. Go Digital, Go Inclusive: Every JUAN Included – A Drive to Financial Inclusion.

#WeExist
#ExistinDigitalBanking
#ExistinInclusiveBanking

In today’s fast-paced world, convenience has become a paramount factor in shaping consumer behavior, particularly in the banking industry, where digital banking software providers are reshaping the way financial institutions interact with their customers.

The rise of bank IT solutions has enabled banks to adapt to this transformation, offering seamless and accessible experiences for both individuals and businesses.

The Rise of the Convenience-Seeking Consumer

Gone are the days of long queues and rigid banking hours. Modern customers demand seamless, accessible, and personalized banking experiences. With the proliferation of smartphones and high-speed internet, expectations have soared. Customers now expect to manage their finances effortlessly, anytime, anywhere, through innovative digital banking solutions that cater to these needs.

Digital banking has emerged as a powerful tool to cater to this evolving customer mindset. By embracing technology, banks can offer a plethora of convenient services, including:

24/7 Accessibility: Customers can access their accounts, transfer funds, pay bills, and more at their convenience.

Mobile Banking: Banking on the go becomes a reality with user-friendly mobile apps provided by fintech digital banking partners.

Online Account Management: Customers can easily view transactions, manage accounts, and apply for loans or credit cards online.

Digital Payments: Contactless payments and mobile wallets offer swift and secure transaction options.

Personalized Services: Banks can leverage data to offer tailored financial products and recommendations, driving deeper customer engagement.

Empowering Banks Through Digital Transformation 

Beyond satisfying customer demands, digital banking solutions present significant opportunities for banks to enhance their operations and profitability. By streamlining processes, reducing operational costs, and improving customer satisfaction, banks can gain a competitive edge. Digital banking software providers play a crucial role in enabling these advancements, helping banks innovate faster and more effectively.

Image from: PBCOM

Our Case Study: Mobile Banking a Key to Digital Financial Inclusion

One excellent example of how digital banking solutions enhance convenience is through mobile banking, which has become a powerful tool for financial inclusion, bringing banking services to previously underserved populations.

Accessibility: Mobile banking apps can be accessed from anywhere with a smartphone, eliminating the need for physical branches.

Financial Literacy: Many apps offer financial education tools, empowering users to make informed decisions.

Peer-to-Peer Payments: Features like mobile wallets facilitate quick and easy transactions between individuals.

Mobile banking is a cornerstone of digital banking solutions, contributing not only to convenience but also to greater inclusion and empowerment.

The Impact of Digital Banking on Customer Experience

Beyond convenience, digital banking has significantly improved the overall customer experience:

Personalized Banking
By analyzing customer data, banks can offer tailored products and services, enhancing satisfaction.

Enhanced Customer Support
Digital channels like live chat and online support provide efficient and accessible assistance.

Seamless Omnichannel Experience
Customers can switch seamlessly between online, mobile, and physical branches, creating a unified banking experience.

The Road Ahead As technology continues to evolve, the role of convenience in banking will only grow stronger. Banks that prioritize customer experience and invest in innovative digital banking solutions will thrive in the competitive landscape.

To stay ahead, banks must:

• Embrace Emerging Technologies: Explore innovations like artificial intelligence, blockchain, and biometrics to enhance customer experiences.
• Focus on Security: Build trust by implementing robust security measures to protect customer data.
• Provide Exceptional Customer Support: Offer multiple channels for support, including live chat, email, and social media.
• Continuously Innovate: Stay ahead of the curve by regularly introducing new and improved digital banking features.

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.

#WeExist
#ExistinDigitalBanking
#ExistinInclusiveBanking

Over the past years, the Philippine banking industry has witnessed rapid technological advancements. Research highlights that adopting technologies such as Mobile Internet Banking has significantly reduced operational costs for both banks and their customers (Baabdullah et al., 2019).

The push towards digital transformation has been particularly emphasized for rural banks, which play a vital role in delivering financial products and services to rural and agricultural communities.

During the Rural Bank Strengthening Program (RBSP) Technology and Innovation Forum held on May 31, 2024, at the Bangko Sentral ng Pilipinas (BSP) Head Office in Manila, BSP underscored the necessity of digital transformation for rural banks. This initiative aims to enhance rural banks’ operations, capabilities, and competitiveness, recognizing their crucial role in the financial ecosystem.

At Exist Software Labs Inc., we are committed to empowering rural banks to Go Digital, Go Inclusive, ensuring that every individual, or “EveryJUAN,” is included in the digital financial revolution. Our mission aligns with creating a more inclusive financial landscape where Mobile Internet Banking is accessible to all.

Empowering Rural Banks Through Digital Innovation

Our Mobile Internet Banking solutions provide the flexibility to customize mobile banking platforms to meet client needs without compromising security, scalability, or cloud-readiness. Using a universal set of integration connectors, MIB can seamlessly integrate with existing cornerstone banking systems, enabling rural banks to transition smoothly into digital finance and compete effectively in the modern banking landscape.

Mobile Banking, Made Easy!

Exist Software Labs Inc. offers comprehensive Mobile Internet Banking for Rural Banks Solutions with three distinct suites designed to cater to various banking needs:

Mobile Internet Banking – Lite 

Our cost-effective solution offers essential Mobile Internet Banking features at a budget-friendly price point. It’s ideal for rural banks looking to introduce digital services without significant upfront investment.

Mobile Internet Banking – Standard

This baseline solution provides all the necessary features for large-scale establishments, tailored to meet the standard demands of Mobile Internet Banking. MIB Standard is perfect for banks that require a robust, scalable platform.

Mobile Internet Banking – Enterprise

Our most advanced solution, MIB Enterprise, comes equipped with features that go beyond the standard requirements. It is perfectly matched for financial institutions with innovative and ambitious capabilities.

What’s In It for You?

Adopting Mobile Internet Banking offers several benefits:

• Gain New Customers: Attract a broader customer base by offering convenient, accessible digital banking services.
• Competitive Edge: Stay ahead in the competitive landscape with advanced digital solutions that meet evolving customer expectations.
• Omnichannel Platform: Provide a seamless banking experience across various channels, ensuring customer satisfaction and retention.
• Sizeable Platform: Scale digital banking operations efficiently with a platform designed for growth.
• Banking Convenience: Enhance customer experience with easy-to-use mobile banking features.
• Online Onboarding: Simplify customer acquisition with a streamlined online onboarding process, reducing the need for physical branch visits.

The future of rural banking lies in embracing digital transformation. With Exist Software Labs Inc.’s Mobile Internet Banking solutions, rural banks can revolutionize their operations, enhance service offerings, and ensure “EveryJUAN” is included in the digital financial ecosystem.

Together, let’s build a more inclusive, digital future for rural banking in the Philippines.

#ExistInDigitalBanking #ExistInInclusiveBanking