MANILA, PHILIPPINES — Banking solutions company Bank-Genie with corporate headquarters in Singapore has announced it will establish its presence in Manila to service a growing clientele that includes Universal Banks, Saving and Lending Banks, Rural Banks and Multi-Finance Institutions across the globe.
Bank-Genie is backed by SBI-FMO, a private equity fund, set up by two large global institutions – The SBI Holdings Group, a leading internet-based financial services conglomerate in Japan and FMO, the Dutch development bank. Drawing from their expertise, knowledge and experience, Bank-Genie provides innovative banking solutions to help lower the cost of service of the Financial Institution whilst expanding its reach to the unbanked and under-banked sectors.
The young company founded in 2016 had already acquired over 10 clients have since rapidly expanded its footprint across Africa and Asia.
“To support these plans, customer support is critical” said Ramkumar Sarma, Bank-Genie Founder and CEO. “After our study, it became apparent that the Philippines is the right location for our Global Customer Support Centre for our growing client base. It offers a number of considerable advantages such as the availability of well-trained and hard-working talent.”
To this end, Sarma cited that the company has already begun to roll-out its plans and is presently looking at potential locations in Metro Manila and the recruitment of local talents immediately.
Bank-Genie’s flagship product is a mobile native software running on a tablet, POS device or smartphone that enables banks and financial institutions to create virtual, integrated, secured and seamless retail branches freeing “the teller” from brick and mortar branch. The state-of-the-art solution enables banks to set up branches where customers can access complete set of banking services at a fraction of the cost of a full traditional branch.
“What we have done with Bank-Genie is to take out all the dependencies and connectivity of a bank teller to branch facilities.” Sarma said, “Today, one of the key challenges faced by banks and financial institutions is their inability to set up multiple branches or access points due to capital and operational constraints. With the elimination of these physical dependencies, banks may conduct business at the convenience of the customer through mobile bankers, bank-appointed agents or vehicular branch thereby providing essential financial services to the unbanked, under-banked and community at large.”