Eighteen rural banks based in Luzon and Mindanao recently completed the Rural Bankers Association of the Philippines (RBAP) Basic Microinsurance Training during two separate sessions. Twenty-nine (29) bank officers and staff from ten (10) rural bank-members of the Cagayan-Kalinga Federation attended the training held in Cooperative Bank, Tuguegarao City, on November 24-25 while eleven (11) bank officers and staff from eight (8) rural banks participated in the course held on December 7-8 in Manila. Altogether, one hundred and sixty (160) rural banks have been trained under the RBAP Basic Microinsurance Training course since January 2011.
More Rural Banks Complete Microinsurance Training Course
December 9, 2011 By Leave a Comment
Rural Banks Providing Financial Education in Branchless Banking
November 21, 2011 By Leave a Comment
By Cheryl Lualhati Balingit, RBAP-MABS Special Projects Coordinator
In Filipino grammar, adding the prefix mag is a nifty way to verbalize a noun. This extends from everyday, colloquial conversation Mag-kape tayo (Let’s have coffee) Mag-sine tayo (Let’s watch a movie) to more profound exhortations, like Mag-bago na tayo. (It’s time we make a change). The United States Agency for International Development-supported Rural Bankers Association of the Philippines Microenterprise Access to Banking Services (RBAP-MABS) Program with assistance from Microfinance Opportunities (MFO) is now assisting rural banks to extend this further to promote mobile phone banking services with the launch of mag-CellBank! and the pilot testing of the Financial Education for Branchless Banking Project.
mag-CellBank!, the new logo for mobile phone banking services, employs the prefix mag to cell (for cellphone) and bank. Mag-CellBank! is an enthusiastic call for clients to perform banking transactions using their cellphones. The new name, along with a visual identity, is integrated into the new Financial Education for Branchless Banking toolkit that is currently being used by three pilot banks – GM Bank, Cantilan Bank, and 1st Valley Bank. mag-CellBank! services include Text-A-Payment (TAP), Text-A-Deposit (TAD), Text-A-Withdrawal (TAW), and phone-to-phone transfers and payments.
Launched in June 2010, the Financial Education for Branchless Banking Project is implemented by the RBAP-MABS Program with support from MFO, a Washington-based global nonprofit that develops consumer-focused ideas and solutions for the microfinance industry. The project, which is implemented in partnership with The MasterCard Foundation, aims to increase the uptake and use of mobile phone banking services through the use of financial education tools.
The dissemination and use of the toolkit rounds up close to a year of work and preparation.
Cantilan Bank Focusing on Value Chains to Expand Micro Agri Lending
October 23, 2011 By Leave a Comment
The Mindanao Fruit and Vegetable Summit on October 20-22, 2011 held in Davao City proved to be an opportunity for Cantilan Bank to meet with value chain players in the sector and strike partnerships that promise to be beneficial to both the farmers and the bank. The summit brought together farmers, buyers and business leaders in a bid to address challenges faced by farmers and agriculture-based companies along the fruits and vegetable commodity value chains. Aside from discussions on benchmarking, best practices, and global marketing, the event featured business matching for producers, buyers, and bankers. The summit was also a venue for aspiring agri-entrepreneurs to learn how to start and grow a farming business.
RBAP-MABS facilitates Savings Mobilization Workshop at Katipunan Bank
October 20, 2011 By Leave a Comment
By Meliza H. Agabin, RBAP-MABS Deputy Chief of Party
Mobilizing savings, the other half of financial intermediation, can sometimes be something that a bank may not consciously and actively market. This happens especially when large credit lines from government banks or wholesale facilities become more attractive due to the ease of access and the perceived lower administrative costs. Without being mindful of it, a bank can easily fall into a trap of dependency on external funding sources and lead to a concentration of risk due to a small number of large credit lines. In order to avoid falling deeper into this trap, Katipunan Bank requested the United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) program to facilitate a workshop with senior and middle level management of the bank.
“New Developments & Future Directions in Microfinance” shared with Mindanao Rural Bankers
October 8, 2011 By Leave a Comment
The United States Agency for International Development supported-Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) program shared new developments and future directions in the microfinance field for rural bankers attending the 31st Mindanao Rural Bankers’ Annual Conference on October 6-7, 2011 at Naomi’s Botantical Garden & Tourist Inn, Ozamiz City.
The presentation highlighted the various new developments in the microfinance field that rural bankers need to be aware including the importance of dealing with competition and better understanding current market conditions.
Balance Products & Markets
Banks need to analyze their markets as well as their products to expand services by mixing and matching existing, modified and new products to meet the needs of existing and new markets. Rural banks need to continuously monitor developments in the market as well to better understand the needs of their market niche including focusing on not only their traditional clients such as rural households, micro and small businesses, farmers, fisherman, employees, teachers and local government workers but also new market niches including utility and other bill payment services, remittances, and services for out-of-town workers. In the area of products and services, rural banks engaged in microfinance today must also consider new products such as housing microfinance, microinsurance, and electronic banking services including offering cash cards, ATM services, mobile money transfers, and mobile phone banking.
