Robinsons Bank won the Best Productivity, Efficiency, and Automation Award at The Asian Banker Excellence in Retail Financial Services and Technology Innovation Awards (Philippines) for its GO! Motorsiklo Loan.
Presented by The Asian Banker, the leading platform of the TAB Global stable of brands which provides strategic business intelligence to industry leaders, the annual awards program recognizes financial institutions that demonstrate exceptional vision, commendable execution, market-leading financial service propositions, outstanding achievements, and best practices in the industry. This year’s winners were announced on August 16, 2023.
Robinsons Bank (RBank) has always been committed to putting its customers at the heart of its service. The bank’s wide range of products and services are designed to assist Filipinos in their daily lives, ensuring convenience, reliability, and efficiency.
Since 2009, RBank has been instrumental in fulfilling the dreams of thousands of Filipinos to own motorcycles through the GO! Motorsiklo Loan. This initiative has provided more than 350,000 clients with the chance to own either a brand-new vehicle or a second-hand unit, making a significant impact in bringing people closer to their aspirations. And to better reach Filipinos, the Motorcycle Finance Group behind the GO! Motorsiklo Loan has continually partnered with accredited dealerships in the country.
As a bank that is driven to fulfill the changing needs of its customers, RBank charted its path towards digitalization to improve customer experience. This strategic direction is a result of collaboration and support among the various business units within the bank. In response to the increasing need of Filipinos for motorcycle loans, especially amid the challenges posed by the Covid-19 pandemic, the bank developed and launched the Electronic Motorcycle Document (eMCDO) app in February 2021. This revolutionary app facilitates the paperless execution of crucial loan documents, including Promissory Note with Disclosure Statement, Amortization Schedule, and Automatic Debit Arrangement Form, all completed with clients' digital signatures verified through one-time pins.
Through this innovative technology, the entire processing of motorcycle loans has been streamlined, significantly reducing the need for client visits to dealerships. Physical visits to accredited stores are only necessary for the selection of their preferred motorcycle units and their collection upon release. The eMCDO app operates seamlessly, providing a hassle-free and efficient experience for clients seeking motorcycle financing.
The implementation of digital execution and signing for motorcycle loans at RBank led to a significant enhancement in loan processing, bringing increased convenience and faster turnaround times for clients. By adopting this innovative approach through the eMCDO, the entire process has become completely paperless, streamlining the experience for borrowers and improving overall efficiency. Clients can now easily apply for loans from the comfort of their homes, swiftly review and sign documents online, and receive prompt approvals without the need for cumbersome paperwork.
In a statement shared after RBank’s win at The Asian Banker Awards, Senior Vice President Janette C. Gonzalvo, the Motorcycle Finance Group Head of RBank, commended the dedication and collaborative effort demonstrated by various teams in the bank to enhance the financial services provided to its clients. “We are immensely grateful to The Asian Banker for such distinction. As we stay true to our commitment to our clients to put them at the heart of our service, we really want to extend to them affordable financing packages and improved loan processing that they can conveniently and efficiently obtain.” She added, “This recognition really reinforces our dedication to serve our clients with excellence.”
As the demand for motorcycles is set to increase in the coming years, RBank is committed to continuously provide affordable financing packages and improve its processes to ensure superior customer experience and help build a brighter future for Filipinos.
For more information on Robinsons Bank, visit robinsonsbank.com.ph
