OCTOBER 3, 2024 – In a groundbreaking move for digital rural banking in the Visayas, Traxion has partnered with Rural Bank of Sagay, Inc. to bring cutting-edge digital innovations to their community. This collaboration marks the first time a Visayan rural bank has launched a comprehensive suite of phygital banking services, setting a new standard for financial inclusion and customer experience.
During the launch event, Traxion Founder and CEO Ann J. Cuisia and Rural Bank of Sagay President Alejandro R. Yupangco, along with other key leaders, expressed their shared vision for the future of rural banking.
Ms. Cuisia addressed the challenges rural banks face in today’s digital landscape, emphasizing Traxion’s commitment to empowering institutions like Rural Bank of Sagay with the tools and technology they need to thrive. “As we navigate this digital transition period,” Ms. Cuisia explained, “the clear solution for conservative, cost sensitive, and legacy institutions is to go phygital, and that’s precisely what Traxion provides.”
Mr. Yupangco highlighted the importance of this partnership for Rural Bank of Sagay and its customers. “This collaboration with Traxion is incredibly important to us to support our direction of adopting digitalization in this country,” he stated. “As we move into the future, we want to make banking convenient for everyone, and digitalization offers a significant advantage.”
He further elaborated on their decision to partner with Traxion: “After doing our due diligence with Traxion, we saw their capability of delivering the product unique to our needs and with that we believe we can have a lasting and fruitful relationship that will increase our presence in the countryside.”
Phygital Banking: The Best of Both Worlds
Phygital banking seamlessly blends the convenience and accessibility of digital banking with the personalized touch and trust of traditional, in-person banking. This approach is particularly crucial for rural banks aiming to enhance customer experience and stay competitive in the evolving financial landscape.
Traxion’s phygital solutions empower rural banks to offer a wide array of services, including:
- Mobile App: Provides customers with convenient mobile banking options.
- Branch Portal: Streamlines branch operations for increased efficiency.
- QRPH cards: Offer a secure and modern alternative to traditional bank cards.
- mPOS: Enables mobile point-of-sale transactions, expanding service reach.
- QRPh driven Cash Teller Machines (CTMs): Allow for easier, faster, and more accessible cash transactions.
By adopting these solutions, Rural Bank of Sagay is poised to:
- Enhance customer satisfaction: Provide greater convenience and accessibility to financial services.
- Improve efficiency: Streamline operations and reduce costs.
- Expand reach: Extend services to a wider customer base.
- Strengthen community relationships: Reinforce their commitment to serving the local community.
Empowering Rural Communities Through Financial Inclusion
This partnership between Traxion and Rural Bank of Sagay is a significant step towards greater financial inclusion in the Philippines. By providing rural communities with access to advanced banking solutions, Traxion is helping bridge the gap between urban and rural areas, empowering individuals and businesses alike.
The dedication of Rural Bank of Sagay’s leadership team, including Alejandro R. Yupangco, Siena M. Gonzaga, Mila C. Cangque, and Antonio S. Alvarez, has been instrumental in launching these phygital banking services.
Ready to transform your rural bank with phygital banking solutions? Contact Traxion today to learn more: sales@traxiontech.net