TRACS Process Guides Rural Banks in Completing their Microinsurance License Applications

October 21, 2011 By Leave a Comment

The Microinsurance initiative of the United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program aims to assist participating rural banks in expanding their services to include microfinance product in order for microinsurance to reach low-income groups.

RBAP-MABS Program developed a turn-key system called T-R-A-C-S Process to simplify the microinsurance licensing applications of rural bank to the Bangko Sentral ng Pilipinas (BSP) and the Insurance Commission (IC). Participating rural banks are guided through the application steps by following the T-R-A-C-S Process which stands for:

  1. TRAIN in Microinsurance Basic and Product Mastery
  2. REQUEST for a No Objection Notice from the BSP
  3. ASSEMBLE your Microinsurance Core Team
  4. CHOOSE the bank’s partner-insurance provider
  5. SUBMIT complete requirements to the Rural Bankers Research and Development Foundation Inc. (RBRDFI)

[Read more...]

Filed Under: Latest Updates, MABS Tips, Microinsurance Tagged With: ,

RBAP-MABS links rural banks, insurers, MSPs, and ATM and m-banking partners in “speed networking” activity

July 11, 2011 By Leave a Comment

Speed Networking 1

Throughout its more than  12 years of working to strengthen the Philippine microfinance industry, the USAID-supported RBAP-MABS program has sought innovative methods not only in microfinance product and service delivery, but also in training methods on how to sustain best practices and maintain strong business partnerships.

At the 2011 National Roundtable Conference held in Manila on May 23-24, RBAP-MABS, for the first time, employed a “speed networking” approach to facilitate networking among rural banks and other microfinance partners so as to nurture relationships and explore partnerships and business opportunities. RBAP-MABS brought together partner rural banks, insurance providers, MABS service providers (MSPs), and ATM and m-banking partners in the activity.

[Read more...]

Filed Under: Latest Updates, MABS Features, MABS Tips Tagged With: ,

Mobile Phone Banking and New Technologies: Providing New Channels to Serve Clients Better, Faster, and 24/7

July 4, 2011 By Leave a Comment

NRT MPB 1Alternative ways of delivering banking services are changing the way rural banks are servicing their clients. Not only that, these innovations are also helping the Philippine Government reach families at the bottom of the economic pyramid.

During the 2011 RBAP-MABS National Roundtable Conference, rural banks shared how technology has been useful to them in expanding microfinance services.  As of May 2011, more than 160,000 rural bank clients have processed more than PhP10 billion (US$220 million) in mobile phone banking transactions via the GCASH platform.

Banking practices have been evolving and expanding coverage geographically, as well as in terms of network, client base, and products and services being offered to clients.  Mobile phone banking services were first introduced to rural banks through an effort promoted by the RBAP-MABS program back in 2004. [Read more...]

Filed Under: In the News, Latest Updates, MABS Tips Tagged With: , , , , , , , , , ,

Updates on the BAP-Credit Bureau

June 29, 2011 By Leave a Comment

Topper CoronelMr. Leonilo ‘Topper’ Coronel, Managing Director of the Bankers Association of the Philippines Credit Bureau (BAP-CB), presented the private credit bureau’s latest changes and activities to participants of the 2011 RBAP-MABS National Roundtable last May 23-24 in Manila. He shared the latest developments in the effort of BAP-CB and a consortium of microfinance institutions’ (MFIs) to build a responsive credit information system for the microfinance sector. (see Philippine Star article)

He reported the over 60% growth in the number of participating rural banks from 28 to 46 in May 2011, attributing this increase to the BAP-CB’s efforts to reach out to rural bank federations in the country, and the assistance of the USAID-supported RBAP-MABS Program.

He also underscored the enhancements in the bureau’s Negative File Information System (NFIS) particularly its accessibility via the Internet, which allows the credit bureau to automatically process requests on a daily basis, even on non-working days. In addition, BAP-CB provides its participating institutions with (1) one-on-one training for their key officers, (2) data management modules, and (3) other data mining applications such as SNIP (or Similar Names Inquired Previously). Finally, the inquiry fee has been reduced by half – the bureau now charges P5.00 per inquiry versus P10.00 in the past. [Read more...]

Filed Under: Latest Updates, MABS Tips Tagged With: , , , , ,

A Fresh Perspective on Mobilizing Micro–Deposits

June 28, 2011 By Leave a Comment

microdeposit session 1Micro-deposit generation is a key strategy in building more stable banks to support their credit operations and service the savings needs of the public, particularly the lower income groups. Banks unable to execute an effective micro-deposit strategy are risking being left behind in the marketplace, especially if they do not consider the perspective that broadening their micro-deposits base could provide them a solid foundation for achieving overall growth. This is one of the lessons learned during one of the sessions of the 2011 RBAP-MABS National Roundtable Conference held at the Hyatt Hotel on May 23-24, 2011.

Three speakers spoke on the topic “A Fresh Perspective on Mobilizing Micro-deposits”. Mr. Gerardo A. Butardo, Deputy Director of the MSME Finance Specialist Group of the Bangko Sentral ng Pilipinas (BSP) Supervision and Examination Sector, represented the regulators’ point of view. Representing the bankers’ views and sharing their experiences with mobilizing micro-deposits were Lt. Gen. William K. Hotchkiss III (Ret.), President of Cantilan Bank, and Mr. Joel Luna, 1st Valley Bank’s Pagadian branch manager.  The bankers’ experiences showed the participants how micro-deposits benefitted the banks’ operations and significantly expanded their deposit base. [Read more...]

Filed Under: Latest Updates, MABS Tips Tagged With: , , , , , , , ,
« Older Posts