Thrift bank convention explores new markets

MANILA, Philippines — The Chamber of Thrift Banks (CTB) will highlight its strong support for the Bangko Sentral ng Pilipinas’ (BSP) thrust to build a more inclusive financial system at its annual convention slated on March 29 at Shangri-La Hotel, Makati City.

Themed, “Expanding to New Markets,” the gathering aims to define the plan of action and initiate the next steps that are needed to reach out to more unbanked Filipinos.

Financial technology company FintQnologies Corp. is this year’s CTB convention partner.

Through the years, thrift banks have always been at the forefront of mobilizing deposits and extending credit resources to individuals and MSMEs, particularly in the countryside and in the provision of housing and consumer loans.

Newly-appointed BSP Governor Benjamin Diokno is expected to deliver the keynote address in this year’s convention. CTB welcomes Diokno, and acknowledges his reformist brand of leadership that is foreseen to build a more empowered Philippine banking sector.

Diokno is assuming the leadership role after the passing of former BSP governor Nestor Espenilla Jr., whom the CTB honors for his dedicated public service, strong support for thrift banks, and his advocacy for greater financial inclusion.

The convention will elaborate on opportunities that the thrift-banking sector should adopt to be able to augment financial inclusion and expansion to new markets. 

BSP director of payment system oversight department Raymond Estioko will expound on the National Retail Payment System (NRPS) which pushes for the shifting of cash-heavy transactions to digital avenues.

NRPS aims to increase use of electronic retail payments, from the current one percent to 20 percent by 2020 to enhance efficiency, convenience, and resiliency of the retail payment system.

To support NRPS, the convention will feature a forum on fintech or financial technology, to be led by Lito Villanueva, managing director of FintQnologies Corp.

The forum on microfinance will be led by Jaime Aristotle B. Alip, founder and chairman of CARD MRI (Center for Agriculture and Rural Development Mutually Reinforcing Institutions) who will share experiences in helping small enterprises thrive.

The convention’s Forum on Banking Technology for Thrift Banks will feature presentations from leading solutions providers, including cybersecurity.

Jose Ma. A. Concepcion III, founder of Go Negosyo, will lead the forum on MSMEs and will discuss on programs that are intended to popularize entrepreneurship.

CTB is the umbrella organization of the country’s thrift banks and was organized primarily to provide an institutional medium through which members can collectively assist and cooperate with one another, with other members of the banking sector, and with the national government and its instrumentalities, more particularly the BSP, to promote, develop, expand and strengthen the role of savings and loan associations, private development banks, and savings and mortgage banks (otherwise known as thrift institutions).