On December 4, 2024, a monumental step toward financial inclusion in rural areas was taken as Traxion and Rural Bank of Escalante, Inc. formalized their partnership through a Memorandum of Agreement (MOA) signing. The event brought together esteemed leaders, including Traxion’s CEO Ann Cuisia and COO Josh Allen Santos, and RB Escalante’s President, Ma. Elsie L. Gonzaga.
This partnership signifies a shared vision to modernize banking in islands and mountainous regions by introducing innovative branchless banking solutions powered by Traxion’s technology.
RB Escalante, which has proudly served its community for over 56 years, embraces the Traxion CTM (Cash Teller Machine) as a transformative investment. Unlike traditional ATMs, the Traxion CTM provides a suite of digital banking services that enable seamless transactions in areas where physical bank branches are unfeasible.
According to President Ma. Elsie L. Gonzaga, “With Traxion, everything’s integrated there already, so that’s why I like it. It’s like a one-stop shop, all-in-one na yan. Having this CTM machine with so many features is the best thing for us and the communities we serve.”
RB Escalante has been a pioneer in introducing digital banking solutions in Don Salvador Benedicto, an unbanked municipality in the mountains. “Even without a physical branch, having Traxion’s CTM machines ensures that we can meet the financial needs of our clients,” shared Gonzaga.
The partnership between Traxion and RB Escalante demonstrates a shared vision of financial inclusion, one that transforms lives in remote communities by providing them with tools to access the digital economy.
As President Gonzaga aptly put it: “We are so behind in digital, but at least we are doing something. This collaboration with Traxion is a step forward in ensuring that even the most remote areas are not left behind in the digital banking revolution.”
With plans to expand CTM installations and empower more merchants, the future looks promising for both RB Escalante and the communities it serves.
To learn more about how RBPay can empower your rural bank, please contact our Sales Team at sales@traxiontech.net.