➜ Fujitsu urges banks to embrace ESG
Fujitsu Ltd. is urging local banks to strengthen ESG goals as clients are increasingly becoming socially-aware. In a statement, the technology firm said it sees many clients not looking at profits alone but also information on “Environment, Society, and Governance” (ESG) initiatives. The company claims it has a “vast experience” in helping financial institutions ensure that they provide better banking experience. Fujitsu said this is achieved through the company’s expertise in leveraging financial service tools to create the ideal and versatile model for the client’s needs. Fujitsu said knowing customers and enhancing their experience are some of the ways to ensure a more purpose-led banking experience. Rizal Raoul S. Reyes
Lender cites recognition
➜ Security Bank Corp. announced recently it received three “Golden Arrows” from the Institute of Corporate Directors for its continued excellence in Corporate Governance. The lender’s statement read that it received the recognition after scoring 103.32 at the “2021 Asean Corporate Governance Scorecard,” or “ACGS.” A 3-arrow recognition is given to publicly listed companies who achieve a score of 100 to 109 on the scorecard, the bank said. It explained that the ACGS is an assessment based on international best practices in corporate governance. The rigorous methodology was developed by experts across the region to assess the corporate governance standing and performance of publicly-listed companies in six participating Asean member countries.
➜ Insurer’s tech initiative honored
ETIQA Life & General Assurance Philippines Inc. announced it has been recognized at the 10th Annual International Finance Awards for its insurance plan for mobile phones and electronic devices. Called “Gadget Protection,” it is the company’s first venture into embedded insurance with major e-commerce platforms that protects devices from unexpected repair costs due to unwanted incidents. The product, won the “Best Insuretech Initiative in the Philippines” for 2022. Etiqa Philippines President and CEO Rico T. Bautista said the product “is a result of the thrust to explore opportunities and solutions in insuretech.” Bautista added that the launch of their “Letter of Guarantee” portal helped streamline the firm’s insurance processes last year. Roderick L. Abad
➜ Fintech offers financial literacy to MSMEs
UNOBank Inc. announced it partnered with Singapore-based Proxtera Pte. Ltd. to use financial literacy in capturing a share of the micro-scale, small-scale and medium-scale enterprises (MSMEs) market. UNOBank CEO Manish Bhai said the financial literacy penetration in the country “is very low because people haven’t really understood what it means to integrate into organized banking or have a relationship with financial institutions,” Bhai said. “We want to promote financial literacy as an entry point to the formal financial sector.” Proxtera CEO Saurav Bhattacharyya said their program called “SME Financial Empowerment” “provides financial literacy credentials, which is the first step in providing an important indicator of intent to pay.” Roderick L. Abad