The new mobile apps are used as a channel for acquiring new customers, The Bank utilize it as the first layer to perform KYC which has a lower cost than if they do through the core banking system.
Jakarta, May 2023 – Indivara Group, one of the largest IT group of company in Indonesia and South East Asia region which focuses on consulting, software development, and platform businesses announces that the Philippines’ Third Largest Bank has deployed fully white-labeled Indivara’s Integrated Wallet and Loyalty Platforms to acquiring and maintain customers. The new mobile apps enable The Bank to remain competitive in the fast-expanding digital banking industry by combining an e-wallet and reward program in a single app.
The Bank which currently has 1,173 branches in the Philippines and two subsidiaries in Hongkong and Europe undertaken an initiative to develop mobile apps that could reduce acquisition and maintain customers cost. This app allows The Bank to attract new customers, retain existing ones, and create an integrated and holistic banking experience that was in line with modern consumer tastes.
The mobile apps which available in AppStore and Playstore are used as a channel for acquiring new customers instead of registering the customer to open an account, which is a bit pricey, The Bank utilizes the apps as the first layer to perform KYC. Maintaining the customer in the wallet has a lower cost than core banking. Besides, there is potential for cross-selling by registering the active customer in other products like their digital banking for SMEs.
This app plays a critical role in improving The Bank’s offerings and services. The Bank was able to meet the increased demand for digital payment solutions by incorporating an e-wallet into its existing offering. Furthermore, adding a loyalty program within the same app increased customer engagement and encouraged loyalty to The Bank itself. Customers could earn awards, points, or discounts for their transactions, promoting repeat business and strengthening the bank’s relationship with its customers.
These mobile apps enable customers to make payments, transfer funds, and manage their finances through a smartphone, resulting in a streamlined and user-friendly banking experience.
Jusuf Sjariffudin, President and CEO of Indivara Group, said, “This third largest Bank in the Philippines is an innovator among the banks in the ASEAN region and has been partnered with us for a long time, and this milestone achievement speaks to the company’s ambition and commitment to excellence. I am delighted that again Indivara Group’s commitment to this industry is acknowledged with The Bank’s choice; it is now well positioned to continue its industry leadership in delivering world-class moments of service for its customers.”