AXA Philippines recognized for protecting MSMEs

Dally Dalisay, Senior Relationship Manager of AXA Philippines (left), receives a plaque of appreciation from Dr. Alexander Jaeger, Program Director of Deutsche Gesellschaft für Internationale Zusammenarbeit’s (GIZ) Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (GIZ RFPI Asia) (right).

AXA Philippines was recently recognized by its partner Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) during the latter’s Regulatory Framework Promotion of Pro-poor Insurance Markets in Asia (RFPI) Closing Ceremony held at the New Coast Hotel in Manila.

Through GIZ RFPI, AXA was lauded for its development of MicroBiz Protek Jr., a property microinsurance product designed for Micro, Small, and Medium Enterprises (MSMEs) in partnership with Cebuana Lhuillier. It insures microenterprises against calamities and provides coverage for burglary and robbery. The product also offers emergency assistance available in the Emma by AXA PH mobile app, which gives users free access to services such as ambulance, roadside, fire, and police assistance, while policyholders can pay their premiums through the app, among other things.

The future of finance is female: Empowering women-led MSMEs to drive significant growth to PH economy

Empowering women-led micro, small and medium enterprises (MSMEs) by democratizing access to financial tools and services will result in a significant boost to the local economy. 

During the Promoting Women and Financial Inclusion Today webinar hosted by the European Chamber of Commerce Philippines, government leaders from the Bangko Sentral ng Pilipinas (BSP) and the Senate, as well as executives of leading open finance platform UBX, and insurance provider Pru Life UK underscored the huge benefits in including women entrepreneurs into the country’s financial systems. 

Global studies conducted by the International Finance Corp. (IFC) and the Organization for Economic Cooperation and Development (OECD) found that male-led businesses have more access to business financing than their female counterparts.

UnionBank updates MSME banking app; VISA, MasterCard debit, credit now available with UPAY

Union Bank of the Philippines (UnionBank), the leading banking partner of micro, small, and medium enterprises (MSMEs) in the country, has rolled out the latest update for its MSME Business Banking app, introducing new features that will give business owners more flexibility when it comes to collecting payments from customers and managing their account.

First is an added payment option in the app's "Request Payment" feature, which allows business owners to collect payments through a link that they can send to customers. Users can now collect payments via VISA and MasterCard Debit and Credit cards, on top of Instapay, GrabPay, Gcash, Palawan Express, Cebuana Lhuillier, and ECPay Partner Outlets.

Second, the app now has a dashboard – designed to improve user experience by making navigation easier, as well as improve the app's overall performance. The new feature is UnionBank's way of addressing customer feedback related to the app's user interface and performance --ensuring customer satisfaction.

Good-to-Know: How digital solutions can help MSMEs sustain remote business operations

Remote operations for most industries, especially the micro, small, and medium enterprises (MSMEs) has become the new norm. This compels businesses to manage their operations with help from new solutions that leverage technology. Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, believes that digital and online solutions can help MSMEs adapt and regain their competitiveness even during a crisis. 

“Nobody knows when this crisis will be over. However, by providing access to the right tools and technology, we can help our entrepreneurs weather the storm and allow their businesses to survive and thrive amid the pandemic and its subsequent restrictions,” says PSBank Senior Vice President for Marketing Noel Tuazon.