By Azer N. Parrocha
MANILA, Dec. 2 (PNA) –Two international aid organizations recognized BPI Globe BanKO, the country’s first mobile-based savings bank, for its mobile financial services.
In a statement sent Tuesday, Globe said that BPI Globe BangKO received the “Social Impact of the Year Award” for Mobile Financial Services in Emerging Asia.
This citation is 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 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.
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.
Total deposits by over 145,000 Pantawid Pamilya beneficiaries, who have active BanKO accounts, have now reached Php 14.5 million.
Chief Development Officer of BangKO, Rob Nazal presented the project during the viewing of finalists for the Mondato Awards and received the award in behalf of BanKO, saying that it was an honor to receive such recognition.
“It’s an honor to be recognized for this significant win, not only for BanKO but for the Philippines as well,” Nazal said. “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. (PNA)