Traxion partners with Visayan bank to bring digital solutions to rural banking

Financial technology company Traxion has partnered with Rural Bank of Sagay Inc. to bring digital solutions to rural banking in the Visayas.

In a news release, Traxion said its founder and CEO Ann Cuisia and Rural Bank of Sagay president Alejandro Yupangco signed a memorandum of agreement to bring Traxion’s “phygital” or physical-digital banking solutions to the Visayan bank.

“As we navigate this digital transition period,” said Cuisia adding that “the clear solution for conservative, cost sensitive, and legacy institutions is to go phygital, and that’s precisely what Traxion provides.”

Yupangco, for his part, said the “collaboration with Traxion is incredibly important to us to support our direction of adopting digitalization in this country.”

Traxion explained that “phygital banking blends the convenience and accessibility of digital banking with traditional or in-person banking.

Among Traxion’s “phygital” solutions for rural banks include:

• 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, Traxion said the 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.
—Ted Cordero/RF, GMA Integrated News