CitySavings operates with the principle of “Simple is Good”, thereby offering its clients simple and straightforward banking options, coupled with relevant market products and digital innovations to ensure that the customer gets the best experience he/she deserves.

Established in 1965, CitySavings currently operates in over 140 branches throughout the Philippines. Their goal is to become the leading mass market bank in the Southeast Asian country. CitySavings was recently announced “The Most Customer-Centric Savings Bank in the Philippines” by International Finance.

CitySavings bagged this prestigious award for its various customer-centric initiatives along with its excellent services and innovative products.

Charting A New Course

One of the bank’s major initiatives in 2023 has been its mobile app that provides public school teachers with a fast and secure way to check their savings and loan account balances, as well as apply for a reloan online. Clients can also pay their bills and soon, can receive and transfer funds, and use other customer-friendly features. Take the ‘Teachers’ Salary Loan’ programme for example, where the teaching professionals are getting a maximum lending amount of 2,000,000.00 pesos from the CitySavings, with a flexible term of 12-60 months (accompanied by a variable interest rate) depending on their financial needs.

CitySavings also provides budget-friendly two-wheeler loans, flexible pension loans and other salary loans for public and private sector employees.

Talking about the app, called the ‘Loan Ranger’, helps the CitySavings clients to view their accounts from their smartphones, apart from locating the venture’s branches and ATMs. Also, through the app, one can apply for a reloan. In the coming days, the app will also help CitySavings customers to transfer and receive funds, pay bills, and earn and redeem reward points.

In addition, CitySavings’ innovation game, its chatbot, ‘Talk to Maria’, is now offering a convenient 24/7 enquiry service and a seamless new loan application process. In collaboration with its parent company UnionBank, CitySavings has also rolled out its ‘Bank-on-Wheels’ to make its services more accessible.

“All these initiatives are anchored on CitySavings’ vision to be the leading mass market bank in the Philippines creating innovative solutions that make banking simple for its customers. The thrift bank continues to serve the underserved and the underbanked in the country as it offers them a wide range of financial products,” the venture told International Finance.

The Road Ahead

Like any other 21st century business, CitySavings also strives to create positive economic, environmental, and social changes to be a market leader.

While continuously providing affordable and accessible financial services for its customers, CitySavings is also working towards a better and more inclusive banking experience for its clients, while strengthening engagement with partners, employees, and all stakeholders. CitySavings’ digital transformation initiatives envision the venture modelling a sustainability path that is driven by investments in people, technology, and products.

Keeping that in mind, the venture has set operational objectives like environmental protection, through the responsible management of resources and digital innovations. Also, it strives to empower and equip its organisational structure to create innovative solutions for inclusive prosperity, while elevating the living standards of the communities.

CitySavings’ focus areas in the coming days will be developing digital talent capabilities, gaming up the engagement between its staffers and the communities through the pinch of technology, cultivating inclusive prosperity, ensuring better resource management and operational efficiency, encouraging digital and sustainable innovations more, and making its overall financial services affordable and accessible.

During an interaction with International Finance, CitySavings Chief Executive Officer Lorenzo T. Ocampo, said, “As CitySavings continues to embrace digital tools that enhance and improve the customer experience, we stand by our commitment to provide simple and straightforward banking coupled with our warm and helpful customer service. We always put the needs of our customers first in everything that we do.”

Echoing similar thoughts, CitySavings President Manuel G. Santiago, Jr. said, “The recognition as the Most Customer-Centric Savings Bank in the Philippines is a solid testament to CitySavings fulfilment of its purpose of elevating communities through financial inclusion.”

The post CitySavings: Revolutionising banking with ‘Simple is Good’ philosophy appeared first on International Finance.

International Finance recognized CitySavings for its straightforward banking and easy user-friendly services.

City Savings Bank provides simple solutions to one’s banking needs thanks to its digital innovations. The Bank also has a chatbot called Talk to Maria, which played a crucial role in helping their customers during the COVID-19 pandemic.

Aligned with its purpose of elevating communities in the Philippines through financial inclusion, CitySavings has expanded its loan portfolio. While maintaining its lead as the preferred teachers’ bank in the Southeast Asian country, it also offers pension, motorcycle, company employee, and government salary loans.

CitySavings has been at the forefront of providing innovative banking solutions for its customers. Some of its financial products are Visa Debit Card, which enables customers to perform seamless online money transactions, and the Talk to Maria chatbot, which provides 24/7 customer service.

CitySavings is poised to expand its digital transformation initiatives, while driven by data science and artificial intelligence (AI).

The financial institution is also piloting artificial intelligence-driven solutions designed to improve customer relevance for availing loans and enhance its credit scoring model for loan processing.

The Aboitiz Group, which is a Philippine holding company and operates in major industries like power, banking and financial services, food, infrastructure, data science and artificial intelligence, has a transformation growth strategy to become the archipelago country’s first techglomerate. By leveraging both, CitySavings is able to better serve its customers.

While already regarded as the “Most Innovative Savings Bank in the Philippines” by International Finance, this is only the beginning of CitySavings’ digital transformation journey.

After receiving the honour, CitySavings Vice Chairman and CEO Lorenzo T. Ocampo said, “We remain steadfast in our commitment to serving our customers and communities to make banking simple for them. On behalf of all CitySavings Bankers, I humbly accept this international recognition. This award is a testament to our dedication to customers and our advocacy to elevate the lives of our clients through relevant digital solutions.”

The post Innovation key to success of Philippines’ CitySavings in digital era appeared first on International Finance.