CIMB Bank Philippines Expands Financial Inclusion with Embedded Banking

• Expanding Access: CIMB's partnerships with GCash, Shopee, and Lazada
• Inclusive Banking: Simplified account ownership and credit access
• Innovative Services: Financial inclusion through embedded banking

CIMB Bank Philippines has been a game-changer in the local banking scene since its launch in 2018. By pioneering embedded banking, CIMB has made banking more accessible to Filipinos through seamless integration with digital platforms like mobile wallets and e-commerce apps. This innovative approach allows customers to access banking services without setting foot in a traditional bank, making financial services more inclusive and convenient for everyone.

Simplifying Banking with GCash

CIMB's collaboration with GCash has transformed the way Filipinos manage their finances. The GSave account, developed by CIMB and GCash, was the first of its kind, allowing users to open and maintain a bank account directly from the GCash app. With no initial deposit, no maintaining balance, and a higher interest rate, GSave has become an attractive option for many Filipinos, especially those who have been unbanked or underbanked.

Imagine being able to open a bank account in less than five minutes, all from the comfort of your home. That’s exactly what GSave offers. Whether you need a safe place to store your hard-earned money, send funds to loved ones, or grow your savings, GSave makes it simple and accessible. It’s banking made easy, especially for those who have found traditional banking processes too complex or intimidating.

But CIMB and GCash didn’t stop there. They also introduced GCredit, a credit line integrated within the GCash app, giving users more flexibility in managing their finances. With GCredit, customers can make purchases or pay bills even when they’re short on cash. It’s a lifeline for many, providing a reliable payment option during tight financial times.

Flexible Payment Options with Shopee and Lazada

CIMB’s commitment to expanding financial access doesn’t end with GCash. The bank has also partnered with leading e-commerce platforms Shopee and Lazada to offer flexible ‘buy now, pay later’ (BNPL) options. SPayLater on Shopee and LazPayLater on Lazada are designed to make online shopping more manageable for customers, allowing them to spread out their payments over time with low-interest rates.

Consider a newlywed couple setting up their first home. They might not have the funds to buy all the appliances and furniture they need upfront. With the BNPL options powered by CIMB, they can make those essential purchases now and pay for them in more manageable installments. It’s a practical solution that supports customers in achieving their goals without straining their finances.

These BNPL services are part of CIMB’s broader strategy to embed banking into everyday transactions, making financial services more accessible where and when people need them. By integrating these options directly into popular e-commerce platforms, CIMB ensures that even more Filipinos have access to credit, whether for big-ticket items or everyday needs.

Driving Financial Inclusion in the Philippines

CIMB Bank Philippines is not just about offering banking services; it’s about making those services available to as many people as possible. The bank’s embedded banking model is a testament to its commitment to financial inclusion, providing opportunities for Filipinos who might otherwise be excluded from traditional banking.

With plans for more strategic partnerships on the horizon, CIMB is poised to continue expanding its reach and impact. The goal is clear: to empower every Filipino with the financial tools they need to achieve their goals and improve their quality of life.

Banking isn’t just about saving money—it’s about creating opportunities. Whether it’s opening a savings account, accessing a credit line, or managing payments, CIMB is making these services available to all, breaking down the barriers that have kept many Filipinos from participating in the financial system.

By focusing on digital innovation and strategic partnerships, CIMB Bank Philippines is helping to build a more inclusive banking ecosystem. This means that more Filipinos will have the chance to not only save money but also access credit, invest in their future, and improve their overall financial well-being.

Banking Redefined

CIMB’s journey in the Philippines is a story of innovation and inclusion. By embedding banking services into platforms that Filipinos already use daily, CIMB has made financial services more accessible and convenient than ever before. As the bank continues to expand its partnerships and offerings, it’s clear that CIMB is not just changing the way Filipinos bank—it’s changing lives.

In a world where financial inclusion is more important than ever, CIMB Bank Philippines is leading the way, ensuring that everyone has the opportunity to participate in the financial system and achieve their goals. With continued innovation and a focus on customer needs, CIMB is set to redefine banking in the Philippines for years to come.