CSBank enters partnership with Geniusto

CSBank enters partnership with Geniusto
February 28, 2024 | By Geniusto

CSBank (Citystate Savings Bank), the thrift bank arm of the ALC Group of Companies, recently partnered with Geniusto International Ltd., for its Digital Banking facility in simple ceremonies at the Ascott BGC. Present during the signing from CSBank were President Jaime Valentin L. Araneta, Digital Banking Head Elgie Christine P. Villacorta, and IT Project Management and System Development Head Norman Guillermo, together with Geniusto International CEO Matthew Edmunds and Co-Founder and Head of Global Partnerships, Shane Hermans.

“The partnership aligns with the BSP’s Digital Payments Transformation roadmap to reach unbanked and underserved Filipinos,” said CSBank President Jaime Araneta. “We also look to serve clients in our ALC ecosystem as a whole. By eventually having dedicated wallets of their own, we would be extending the convenience and security of digital banking to and through our affiliates. Our digital banking solutions are, of course, subject to prior BSP approval of an EPFS (Electronic Payments and Financial Services) license and participation in the PPMI (Philippine Payments Management Inc.) system,” he added. 

“CSBank’s Digital Banking channel will enable us to create an account instantly, make fund transfers, and bill payments,” according to Digital Banking Head Elgie Christine P. Villacorta.  She also said, “More functionalities will be introduced in this Mobile Application and Internet Banking in the future.”

Mr. Edmunds congratulated the bank and commented, “We are delighted to welcome CityState Savings Bank to our family of financial institutions around the world. The [GO] Digital Banking Platform will allow the bank to rapidly scale their operations and empower them to provide new services to their depositors. The Philippines is now firmly entering into the new ‘Digital Economy’ and this initiative will ensure that the bank is fully ready to embrace the future and remain a leader in their sector’.

Both parties look forward to launching the Digital Banking service within the year.

About CSBank – CSBank opened its first branch in 1997 and has 34 branches in strategic locations in the Philippines.  The bank offers deposit and investment products, consumer and commercial loans, foreign exchange, trust and treasury products, and ATM services.  It recently launched the country’s first pet savings account called the Prawxy Pet Savings Account.

About Geniusto – Geniusto is a technology enabler for banks, payment providers, Remittance Companies, and eMoney issuers on an international scale. Headquartered out of Australia; Geniusto’s digital banking and payment solutions are relied on by regulated institutions in a dozen countries across Europe and the UK, Southeast Asia, and the North America. The company’s objective is to empower financial institutions with elegant and efficient solutions so that they can deliver an uncompromising customer experience.