BSP advocates for customer centricity in financial inclusion push

The Bangko Sentral ng Pilipinas (BSP) urged the financial industry to put their customers and clients first in designing and delivering solutions during the fourth Financial Education Stakeholders Expo held from 22-26 November.

“Customer Centricity is a culture that seeks to foster positive, satisfying customer experiences,” BSP Governor Benjamin E. Diokno said during the Expo’s “High-level Dialogue on Customer Centricity.”

Given the wide adoption of digital financial services, the Governor called on its supervised institutions to prioritize customer welfare in the provision of financial services, adding that customer centricity is a “fundamental aspect of a digitally inclusive financial economy…[that] helps ensure that the underserved and unserved lower-income Filipino families feel safe and empowered in accessing financial services.”

Themed, “Financial Literacy as Critical Enabler for Personal and National Economic Resiliency,” this year’s five-day Expo was held virtually and garnered 200,000 views. The Expo proactively supplements traditional financial literacy programs with digital skills building to improve the financial resilience of Filipinos.

The Expo featured learning sessions on cryptocurrency, stock market investing, Personal Equity and Retirement Account, and credit cards; behavioral insights on how Filipinos make personal financial decisions; and financial literacy and entrepreneurship as tools for economic resiliency and recovery.

It also showcased the milestones of BSP’s multi-sectoral partnership programs and various learning sessions; a virtual room that allowed participants to view and download learning materials; and an exhibit hall housing the virtual booths of 30 institutional partners.

Interested parties may access the event site (https://BSPFinEdExpo2021.vx-events.com)  until 23 December 2021 or re-watch the Facebook livestreams on the official BSP account.

The BSP has been hosting the annual FinEd Expo since 2018 pursuant to Republic Act No. 10922, which designates the second week of November as Economic and Financial Literacy Week. The expo’s topics and sessions are designed to align with the objectives of the Philippine National Strategy for Financial Inclusion which identifies financial education and consumer protection as major pillars.