Rang-ay Bank renews efforts to expand services to microenterprises

To support Rang-ay Bank’s plan to expand its microfinance services, the USAID-supported Rural Bankers Association of the Philippines – Microenterprise Access to Banking Services (RBAP-MABS) Program provided the senior officers of the bank with briefings on different program initiatives that are aligned to the interests of Rang-ay Bank on August 6, 2011. Aside from the briefing, MABS helped the bank come up with microfinance services expansion strategy and provided the bank with an updated assessment of its mobile phone banking (MPB) services initiative.

Twenty-five officers of the La Union –based Rang-ay Bank, led by its President Ives Nisce Sr., were on hand during  the presentations by MABS on mobile phone banking and microfinance products and services that could help the bank in its market expansion plan. Rang-ay Bank leadership aims to offer better products to public market vendors, the market niche and the bank targets to reach through its strategically located branches.  The management also wants to increase efficiency in serving its customer through the powerful and affordable technology-based platform such as Smart Money and GCash.

Rang-ay Bank ranks in the top 10 banks in terms of the number and value of GCASH transactions. Most of the transactions are for money remittance and Rang-ay Bank’s management’s goal is to enable its clients to use the technology for other banking transactions like payments and deposits.