BPI Globe BanKO bags Social Impact of the Year Award for Mobile Financial Services

Recognized for providing innovative solutions in joint financial education program with DSWD

December 2, 2014

BanKO Chief Development Officer Rob Nazal receives the Social Impact of the Year Award for BanKO from Steve Rynecki, Economic Growth Officer, USAID Thailand (left) and Josh Woodard, Regional ICT & Digital Finance Specialist, Asia-Pacific, FHI360 (right).

BPI Globe BanKO, the country's first mobile-based savings bank, wins the Social Impact of the Year Award for Mobile Financial Services in Emerging Asia, a citation presented by international aid organizations FHI 360 and the U.S. Agency for International Development (USAID) in the recently concluded Mondato Summit.

BanKO was awarded for its innovative solutions in its joint financial education program with the Department of Social Welfare and Development (DSWD) through its Pantawid Pamilyang Pilipino Program and the Sustainable Livelihood Program.

BanKO joins insurance provider Microensure Bangladesh and Indonesian electronic money service provider Dompetku in the roster of over 100 delegates from the technology and mobile financial services (MFS) industry across Asia which attended the 2-day summit.

BanKO Chief Development Officer Rob Nazal presented the said project during the viewing of finalists for the Mondato Awards and received the award in behalf of BanKO. "It's an honor to be recognized for this significant win, not only for BanKO but for the Philippines as well. This award reflects our commitment and dedication to helping change our society and improving the lives of underserved Filipinos. We hope to continue making banking accessible to more Filipinos through mobile banking services and to forge stronger partnerships with organizations which share our vision of financial inclusion for all Filipinos", he said.

With the common goal of improving the lives of nearly 80 million Filipinos at the "base of the pyramid", BanKO and DSWD conducted a series of free financial literacy seminars and opened bank accounts for the DSWD's Pantawid Pamilya beneficiaries since April 2014, reaching 13 regions across the country – from urban areas such as Payatas in Quezon City to remote locations like mountain barangays in Tuburan, Cebu, and the island of Culion in Palawan.

Ranging from the basics of saving to detailed walkthroughs on how to supplement their income using BanKO's mobile banking services such as BuyLoad and business loans, the Pantawid Pamilya beneficiaries gained much-needed support and information to help improve their living conditions and achieve financial security.

To date, there are over 145,000 beneficiaries who have active BanKO accounts which have now reached P14.5 million in total deposits. The program aims to bank at least 200,000 beneficiaries by end of the year. To know more about BanKO products and services, visit www.banko.com.ph.