This was one of the significant points highlighted by GCash, the country’s leading electronic wallet, during the Digital Pilipinas 2021 launch, a forum that is part of the annual World Fintech Festival which brings together Southeast Asia’s technology champions. GCash chief customer officer Winsley Bangit, one of the speakers during the forum, said that while GCash has more than 44 million registered users to date, there is still a large opportunity to serve the general public and the underbanked. As such, GCash strives to continuously democratize financial services and innovate on game-changing products for credit, savings, investments and insurance, ensuring that these are accessible, affordable and easy to understand for everyone. “We do acknowledge that the Philippine market is unique. So at GCash, we are pro-customer with a ruthless focus on the Filipino consumer as we are grounded on improving the everyday lives of Filipinos,” said Bangit. “For this reason, we work with global best practices, world class platforms and partners to serve our customer better.” On the app, users can use GSave, an online savings bank; GInvest, an easy investment feature; GInsure for insurance for medical emergencies such as dengue, COVID-19 and accidents; GCredit, a personal credit line with up to P30,000 and up to 3-percent prorated interest rate. As a superlife app, GCash also has GLife, the e-commerce feature on the GCash app that allows users to shop exclusive deals from 35 brands across retail, food, gaming, entertainment, and transport. GCash has formed key partnerships with financial services institutions and with more than 600 billers nationwide to offer relevant and affordable products to customers. CIMB, Atram, and Singlife, for example, have helped GCash launch more affordable financial solutions. GCash also teamed up with Ant Group Financial, which allowed the app to have access to global and best-in-class platforms and capabilities, enabling GCash to scale up rapidly, while ensuring user security. Meanwhile, Globe Telecom, known for its nationwide reach in mobile and network, helped GCash quickly expand its reach and provide exclusive promos to Globe subscribers while Ayala Corp. opened opportunities for GCash to partner with companies across varying industries. GCash remains focused on nation-building and financial inclusion for all Filipinos and will continue to drive innovation by bringing to life its purpose of making Filipino lives better every day, focusing on its customers and ensuring the development of its employees to deliver only the best for its users. “Fintech in the Philippines is a very enticing space to be in right now especially with the increased demand for digital financial services. We’re at the forefront of innovation,” said Bangit.
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