#FinancePH - Financial inclusion and digital transformation: CitySavings and the future of banking!

DIGITAL INNOVATIONS FOR THE MASS MARKET: City Savings Bank (CitySavings) joins the 2022 UnionBank Innovations Festival held last September 7 - 9 at the newly inaugurated UnionBank Innovation Campus, City of San Pedro, Laguna. The booth features the thrift bank’s innovative and relevant products that make banking simple for the mass market. Aboitiz Group President and CEO Sabin Aboitiz (front, 4th from left) joins the CitySavings team.

The 2022 UnionBank Innovation Festival, themed "The Future of Banking is with U," was introduced in the UnionBank Innovation Campus in San Pedro, Laguna, from September 7 to 9, 2022. The occasion was held in honor of the many digital breakthroughs, trends, and solutions that have benefited Filipinos' daily lives.

City Savings Bank, a thrift bank affiliate of UnionBank, attended the renowned event (CitySavings). One of the biggest thrift banks in the nation, CitySavings strives to offer complete yet user-friendly financial solutions to the mass market of Filipinos.

With the tagline “Simple is Good”, CitySavings offers straightforward banking services, as well as a wide range of mass market financial products. These include salary loans for both public and private school teachers and government workers, pension loans, motorcycle loans, and even company loans.

CitySavings remains steafast in its commitment to serving customers and the community through innovative and relevant products that make banking simple. “Since the Bank was founded more than five decades ago, the focus is really on the mass market which differentiates us from the other featured groups here [at the UnionBank Innovation Festival],” said CitySavings AVP - Reputation and Brand Management Head Paula Ruelan. “Our goal is to become the leading digital mass market bank in the Philippines and further promote financial inclusion.”

Guests visit the City Savings Bank (CitySavings) booth at the 2022 UnionBank Innovation Festival held last September 7 - 9 at the newly inaugurated UnionBank Innovation Campus, City of San Pedro, Laguna. It showcases various simple, straightforward, and innovative banking solutions that the thrift bank offers to pave way for financial inclusion in the Philippines.

CitySavings not only supports basic banking solutions but also promotes sustainability. Due to the COVID-19 pandemic's mobility issues, CitySavings recognized a chance to offer Filipinos a more economical method of transportation while simultaneously allowing traditional tricycle drivers an option to boost their income and transition to a more sustainable way of life.

Especially in remote locations, tricycles are the most widely used form of transportation in the nation due to their usefulness and convenience. However, tricycles are now one of the main sources of air and noise pollution, as well as traffic congestion in some places, as a result of their growing population.This presents an opportunity for  City Savings Bank to help in curbing and minimizing the adverse impacts of the use of conventional tricycles.

CitySavings was able to start its e-trike program through a partnership with Elaia Green Vehicles Corporation (Elaia), which was proudly shown at the UnionBank Innovation Festival. As part of the scheme, interested customers can apply for a motorcycle loan through CitySavings and receive their own own Elaia-supplied e-trike unit.

By offering a cheap financing mechanism and sustaining an affordable mode of transportation for the general public, this initiative helps to achieve the Sustainable Development Goals (SGDs) of eliminating urban poverty. This will also aid in lowering greenhouse gas emissions, which are primarily produced by traditional tricycles.

“We see a lot of possibilities that can be achieved through this project with Elaia. It’s a win-win solution for everyone. CitySavings helps the tricycle drivers finance the e-trikes and earn a livelihood while we are all saving the environment through a sustainable mode of transportation for the masses,” shared CitySavings EVP - Motorcycle Loans Business Head Ret. Adm. Feliciano A. Angue.

CitySavings and Elaia’s e-trike program has seen growing success; during the UnionBank Innovation Festival, they recently signed a brand-new partnership with the City of San Pedro, Laguna, where both organizations would extend this program to the Tricycle Operators and Drivers’ Association (TODA) within the locality.

As for its future plans, CitySavings is hoping to expand its e-trike program even further.

For more information on City Savings Bank, its products, and its services, please visit www.citysavings.com.ph.

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