Next-generation financial software solutions and services provider firm Geniusto Philippines Inc. (a division of Geniusto International a Perth Australia based FinTech), is powering Cantilan Bank’s (CANBNK) mobile banking platform as part of its initiative to pioneer digital countryside finance.
Cantilan Bank’s mobile banking platform is cleverly named ‘iCAN., iCAN is a mobile banking app that delivers safe and secure cashless financial services to the underbanked and underserved communities 24 hours a day, seven days a week. In addition, the mobile app provides access to core transactions, including bills payment, fund transfers, prepaid phone reloading, and QR code payment using a smartphone.
“The iCAN mobile app will change the landscape in the countryside financing. The platform will enable the unbanked and the underserved communities to have access to financial services that were otherwise unavailable to them,” commented, Shane Hermans, founder and Chief Innovation Officer of Geniusto International.
“This is financial inclusion at its core,” Hermans added in reference to CANBNK’s adherence to the Bangko Sentral ng Pilipinas (BSP) Digital Payments Transformation Roadmap 2020-2023, targeting at least 50 percent of financial transactions to be concluded digitally and to provide access to financial services for 70 percent of adult Filipinos.
The iCAN app’s flexibility allows for a wide range of clientele, providing digital support to consumers and merchants of different sizes and needs, while giving equitable access to those in the agriculture and micro-business sectors. This enables every iCAN user to establish their financial footprint each time they use the app, and allows the bank to collate and review transaction records and build up the clients’ financial profiles.
“I am impressed with the commitment of Cantilan Bank’s management for their digital transformation. They are indeed changing the financial landscape in the countryside,” Hermans said, noting the bank’s achievement in securing all licenses and approvals from the BSP to operate as an Electronic Money Issuer – Bank (EMI-Bank), to engage in Agency Banking, and to offer a cloud-based Electronic Payment and Financial Service (EPFS).
CANBNK recently launched its newest digital channel, the iCAN mobile banking app, to maximize its digital and cloud-based omnichannel platform and effectively increase end-client access to a variety of digital financial services during and after the pandemic crisis. It was built through the collaborative partnership with global financial development institutions, Asian Development Bank and International Finance Corporation the regional API cross-border marketplace and sandbox platform for fintech and FI collaboration, APIX.
Lieutenant General William K. Hotchkiss III, AFP (Ret.), CANBNK chairman of the board, highlighted the need to adopt a mobile-first strategy with a customer-centric business model to diversify online products and service channels, and to continue the meaningful process of digital transformation.
Bank anytime and anywhere with iCAN Mobile Banking! By downloading the app, you can create your own CANBNK account or enroll your existing deposit accounts, and enjoy direct and hassle-free bills.