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Manila Bulletin devider Business devider BSP awards GCash for digital financial services

BSP awards GCash for digital financial services

Published Jul 21, 2019 12:00 am
By Bernie Cahiles-Magkilat The Bangko Sentral ng PIlipinas (BSP) has recognized G-Xchange, Inc. (GCash) as its Outstanding Partner for Digital Transformation and Outstanding Partner for Innovative Financial Services for 2019. On top of bagging the two awards, G-Xchange, the registered entity for GCash, was also a finalist for Outstanding Partner for Digital Excellence and Top InstaPay Volume Contributor, which recognizes InstaPay participants that contributed significantly toward the realization of the BSP’s 20% by 2020 vision under the National Retail Payment System project. The 16th Awards Ceremony and Appreciation Lunch for BSP Stakeholders was held on July 10 to recognize banking and non-banking institutions who have supported the BSP’s initiatives and advocacy programs. This year’s theme was “One Team One Goal: Resilient Partnership Towards Inclusive Economic Growth.” “This recognition from the BSP affirms our commitment to find ways to reach the unbanked, underserved Filipinos and to develop mobile platforms that will open access to financial services. In partnership with the government, we are confident that we can make growth more inclusive and more beneficial to the ordinary Filipino,” Anthony Thomas, Chief Executive Officer of Mynt, which counts G-Xchange as a subsidiary, said. The Outstanding Partner for Digital Transformation Award cements GCash’s position as a leading mobile wallet that “delivers a suite of innovative technologies without compromising the security requirements and adopts a digital transformation strategy that seeks to improve process efficiency, cut operational costs and ultimately redefine the customer banking experience.” The BSP also chose G-Xchange, Inc. as Outstanding Partner for Innovative Mobile Financial Services-Non-Bank because it “provides mobile financial services that are responsive to the needs of its customers, offers the widest range of options through the mobile app, and uses innovative solutions to manage account security.” GCash is known for its financial services, which include the first fully mobile credit line through GCredit; the highest interest earning on savings through GSave; and accessible insurance and investment options through Invest Money and GCash Insure.
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