MANILA -- An official of CIMB Bank Philippines, Inc. (CIMB Philippines) is optimistic about having at least 100,000 clients by July, with plenty of help from the bank’s mobile application, as it vies to be the country’s first all-digital and mobile-first financial institution.
In an interview at CIMB Philippines' launch on Tuesday, Chief Executive Officer Vijay Manoharan said they aim to achieve their goal with the help of local partners, such as 711 and GCash. The bank has also partnered with online payment service provider DragonPay.
“These are some of our partners who we connect with and avail (of) our products and services. And their customers can easily (get) on-board and become our customers through the ecosystem,” he said.
The bank’s mobile application is powered by OCTO app, which the public can download through the Apple App store or Google Play.
Aside from enticing future clients through the mobile application, Manoharan said the company also has social media presence through its Facebook page, www.facebook.com/CIMBBankPH, and Instagram account, @CIMBBankPH. “These are little channels to reach out and talk to the Filipino consumers,” Manoharan said.
The CIMB official said they are initially focusing on the National Capital Region (NCR) but noted that their 100,000 client target within six months is only a baseline forecast. “We want to grow much, much more aggressively than that,” he said.
Manoharan said they have launched several savings products, as well as a debit card, which is powered by VISA. “Then we’ll introduce other products, loans and other products down the road,” he said, noting that the loan products are initially eyed for consumers.
Since the bank is relying on widening its reach through online platforms, Manoharan said they are positive about the country’s telecommunications services. “The feedbacks have been fairly positive,” he said.
While the focus is currently on the NCR, which Manoharan said is “pretty healthy,” the CIMB Philippines official said they remain optimistic about their operations nationwide. “That’s why we are currently focusing greatly on the main cities. We see that it would grow together with the overall infrastructure of the country,” he added. (PNA)
