CARD Bank,
continues to serve in the new normal
Press Release
July 13, 2020
SAN PABLO CITY –
The new normal calls for a different approach on the delivery of
services for various organizations. CARD Bank, the largest
microfinance-oriented rural bank in the Philippines, held its
mid-year business review and planning on July 8-10, 2020 with the
theme “Moving forward to the new normal fueled by the same mission
of poverty eradication” to re-imagine and re-configure its services
for its more than 3.3 Million clients nationwide.
Attended by the bank’s
executive and management committee members from all over the
Philippines through an online conference, workshops were organized
to discuss how digitization can be integrated in the existing
methodologies and processes of CARD Bank. By the end of the business
review and planning, CARD Bank vows to increase its total clients
served to 3.5 Million and to disburse loans amounting to P13.9
Billion by the end of the year.
“We are optimistic that we
will continue to bring positive impact to Filipino families despite
the new challenges we are facing due to the COVID-19 pandemic.
Through our digital efforts, we will continue to deliver our
services to our clients,” CARD Bank President and CEO Marivic M.
Austria said. She further explained that aside from its mobile
banking application called konek2CARD, CARD Bank has partnered with
Paymaya, Panalo Express, and ECPay to provide clients with
alternative payment channels for payments of loans, savings and
insurance premiums.
A beacon of hope
Throughout the years,
microfinance institutions have provided socio-economically
challenged families with access to financial services and community
development programs. This is further highlighted as MFIs like CARD
Bank continues to become beacons of hope for the poor during the
pandemic. In accordance to the Bayanihan We Head As One Act, MFIs
like CARD Bank implemented a moratorium so that clients can allot
their budget for necessities during the community quarantines. To
support microfinance clients in bouncing back after the drastic
economic effect of COVID-19, CARD Bank disbursed loans to 221,000
clients amounting to PHP1.5 Billion from May until July 3, 2020.
Meanwhile, CARD MRI
Microinsurance group never faltered in its mission of providing
insurance to its clients. While the group also declared moratorium
in its weekly insurance premium payment, its clients remained
insured during lockdowns. Fast disbursement of insurance claims of
CARD clients continues even there were lockdowns. The group was
paying an average of 5 to 6 million pesos daily for insurance claims
in the midst of quarantines.
Currently, 99% of all CARD
Bank branches, unit offices, and branch-lite units are open and
continuing its services under the requirements and protocols
required by the new normal. An average of 60% of its workforce
reports physically to these offices, while the remaining 40% are
being retooled in preparation for a “branchless banking”. Austria
explains that by the end of the year, CARD MRI is expecting that
800,000 of its total clients will be konek2CARD users. As the number
of these digital clients increases, CARD MRI will also transform its
workforce into becoming more equipped in digital banking.
“We understand that the
shift to digitization may be challenging, but we also consider this
to be transformational for our clients. Our workforce is ready in
assisting and supporting our clients in making this shift,” Austria
stated.
Embracing the new normal
CARD Bank re-imagined its
plans and came up with new strategies to better serve the community
amidst the COVID-19 pandemic. The rural bank already embraced the
new normal and is ready to move forward and achieve its mission of
zero poverty incidence in the country.
“We admit that there are
setbacks and barriers as we move forward our digitization journey,
like meeting our clients face-to-face. But the trademark of CARD MRI
to give relevant and tailored-fit services will always remain as we
re-configure our plans and strategies to adapt to the new normal,”
said Austria.
“We see this crisis not as
a problem, but an opportunity to reach more Filipinos in the
country. We will continue to keep our eyes fixed on our main goal –
a poverty-free Philippines. We embrace the changes brought by our
current challenges on our health and economy while continuing to
transform lives as we have always done in the past three decades,”
shared CARD Bank Chairman Dr. Jaime Aristotle B. Alip.