Despite banking apps, budgeting basics still a problem — study - BusinessWorld Online

Bank customers still struggle with the basics of budgeting and investing amid rapid digitalization, according to a 2021 study on financial wellness by“The broader themes they were struggling with was how do I save, how do I invest, and how do I pay my bills in time,”

said Riddhi Dutta, Backbase regional head for Southeast Asia and South Asia, in a May 25 webinar organized byIn countries like the Philippines, Malaysia, Vietnam, and Indonesia, the study found that customers did not have enough tools available for savings and budgeting. Designing customer experience from a technology perspective is easier if it’s correlated with what customers are looking for and what they aspire to do, Mr. Dutta said., for example, has a green time deposit wherein proceeds are used to fund renewable energy projects. “We build experiences in our bank where such advocacies can be furthered by [the use] of the products we build for our customers,” said Eugene S. Acevedo, RCBC president and chief executive officer.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Food crisis fuels fears of protectionism compounding shortages - BusinessWorld OnlineDAVOS, Switzerland – A growing world food crisis is precipitating protectionist moves by countries which are likely to compound the problem and could lead to a wider trade war, business leaders and policymakers at the World Economic Forum said.In a sign of the escalating squeeze on food supplies and rising prices, a government source told […]
Source: bworldph - 🏆 9. / 68 Read more »