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KMBI was recognized as one of the 4 awardees of Digital Champions – MFI Category during the 1st Digital Financial Inclusion Awards (DFIA), a financial inclusion initiative funded by Citi Foundation in partnership with the Microfinance Council of the Philippines.

Held virtually last December 6, 2022, the DFIA honors KMBI’s efforts in adopting and implementing digital technologies in its operations to better serve its Program Members during these changing times.

KMBI’s in-house system, the Dynamic Unified Network and Management Information System or DUNAMIS, paved a way for KMBI to accelerate the digitalization of its systems. DUNAMIS transformed the process of daily banking transactions and financial records through automation.

KMBI continued its journey towards digitalization through a partnership with the International Labor Organization (ILO). This collaboration produced a digital payment and financial services platform via DigiPay, which allowed client / merchant-agents to carry out payments, remittances and e-loading services.

Milagros Francisco, KMBI Program Member, navigates through the DigiPay app to learn the processes of using the app to facilitate online transactions.

KMBI’s most recent move towards digitalization is the automated collection system in partnership with UBx to help in lowering transaction costs and streamlining the payment process for the Program Members.

A UBx representative guides a KMBI Program Member in San Jose Del Monte through the basics of using the BUx online payment platform.

This move allowed KMBI to reap the positive impact of digitalization on KMBI’s staff and operations. In an interview, Deputy Executive Director for Transformational Development and Training Group (TDTG), Ms. Hazel Christine R. Bayaca shared how KMBI’s digitalization efforts paid off in a lot of ways.

Deputy Executive Director for TDTG, Ms. Hazel Christine R. Bayaca, shares a message to KMBI Program Members during the UBx Kickoff at KMBI San Jose del Monte Branch. She highlights the convenience of being able to transact with KMBI through alternative payment channels.

“First of all, we were able to observe an increase of daily collections, around 15-20% since we started our digital financial services. We have also observed the lowering of printing costs and courier costs, which is about 2-3 milion [Pesos] in a year. Our staff felt ease and experienced lesser time doing their reports and processing records,” Ms. Bayaca said.

The digital financial services has also been helping KMBI’s clients in a lot of aspects. “First, this has helped decrease their transaction costs. Secondly, it has given them convenience and security because they don’t have to go physically to the banks. And thirdly, [it provided] safety from the possibility of getting infected by the virus along the way and in handling physical money,” she added.

Apart from the financial advantages as a result of digitalization, KMBI’s digital financial inclusion efforts have also empowered clients to learn digital skills which they in turn will use to empower their families and communities.

As an awardee, KMBI will receive a cash prize which will be used to further strengthen the organization’s digital financial services.

The DFIA is a program that aims to strengthen financial inclusion in the Philippines through digitalization of the microfinance sector. This event is supported by Citi Group and the Bangko Sentral ng Pilipinas.