Chamber of Thrift Banks’ annual convention set for March 29
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 for March 29 at ShangriLa Hotel in 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 CTB’s convention partner this year.
“Thrift banks’ closer role to the communities they serve puts them at a crucial position that can contribute significantly to broadening access to financial services,” said Cecilio San Pedro, CTB and Sterling Bank President.
“We hope to align our direction with the government’s agenda to decentralize economic activity and increase infrastructure development which are targeted to boost economic growth through financial inclusion and digitalization,” he said.
Establishing more “branch-lite” units or basic bank branches outside business districts and strengthening of the digital finance ecosystem are some of the reforms of BSP that aim to provide more Filipinos with the tools that they need to make sound financial decisions.
“Expanding to new markets will open more avenues for the public to use formal channels for money transfers, payments and savings, particularly for the underserved communities and the micro, small and medium enterprises (MSMEs),” explained Mr. San Pedro.
Newly appointed BSP Governor Benjamin Diokno is expected to deliver the keynote address in this year’s convention. CTB welcomes Mr. Diokno and acknowledges his reformist brand of leadership that is foreseen to build a more empowered Philippine banking sector.
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.
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 Dr. 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.
Jose Ma. “Joey” A. Concepcion III, founder of Go Negosyo, will lead the forum on MSMEs and discuss on programs that are intended to popularize entrepreneurship.
The convention’s forum on banking technology for thrift banks will feature presentations from leading solutions providers, including cybersecurity.