CIMB Bank PH: Best Digital Banking Solutions Philippines 2021

Established in the Philippines in 2018, CIMB Bank has achieved remarkable growth at lightning pace. Customer acquisition has increased by 103 percent, now sitting at three million. There has been an 800 percent increase in deposits and a 500 percent jump in loan disbursements. CIMB Bank offers savings interest rates of up to four percent, higher than any of the country’s major institutions. CIMB’s end-to-end digital app has streamlined onboarding, and clients can open a savings account or apply for a loan within 10 minutes. The loan portfolio is strengthened by a credit-scoring model that allows for the inclusion of previously unbanked, but credit-worthy, citizens. About a third of CIMB savings account holders — and 60 percent of its loan applicants — are first-time bank users. CIMB is a digital pioneer offering AI-enhanced features for facial recognition, ID authentication, and loan risk-scoring. It uses algorithms to analyse smartphone metadata, predict behavioural patterns and assign credit scores — within seconds. CIMB Bank promotes financial literacy through social media campaigns — #MoneyMattersMonday, #WealthWisdomWednesday, and #FinancialFreedomFriday — and teaches basic financial skills on its YouTube channel. Satisfied customers serve as the bank’s unofficial brand ambassadors in online communities, where they praise its strong services and social commitments. The CFI.co judging panel presents CIMB Bank PH, a repeat programme winner, with the 2021 award for Best Digital Banking Solutions (Philippines).

marten

Recent Posts

SegurCaixa Adeslas: Best Insurer Spain 2024

SegurCaixa Adeslas, a pre-eminent Spanish health insurance company, has demonstrated a formidable and truly impressive…

4 weeks ago

Banco BPI: Excellence in Sustainable Banking Initiative Portugal 2024

Banco BPI's dedication to sustainability is a beacon of proactive environmental and social responsibility. Beyond…

1 month ago

BSE Ltd: Champions of Capital Market Innovation and Efficiency Asia 2024

BSE Ltd, formerly known as the Bombay Stock Exchange, is a crucial player in India’s…

1 month ago

TMT Investments Plc: Visionary Leaders in Global Tech Venture Capital Europe 2024

TMT Investments Plc, publicly quoted on the AIM market of the London Stock Exchange since…

1 month ago

BNP Paribas Fortis: Outstanding Contribution to SME Financing Benelux 2024

BNP Paribas Fortis is a key player in the Belgian banking sector with a rich…

1 month ago

BAWAG Group AG: Best Banking Group Governance DACH 2024

BAWAG Group has reported 2023 net profit of 683 million euros, a ROTCE of 25…

1 month ago