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~ The company aims to onboard over 20 financial institutions in the Philippines region in next three years.
Bengaluru, March 20, 2024: Kiya.ai, a leading fintech company based in India, marks its global expansion in the South East Asia Region with a strategic focus on partnering with a multitude of financial institutions. The company marks its presence in the Philippines, starting with Country Builders Bank, Inc. (CBB) – a prominent rural bank. CBB serves a diverse clientele across the Philippines region – Metro Manila, Cavite, Laguna, Rizal, and Bulacan areas.
CBB has partnered with Kiya.ai for a comprehensive suite of banking solutions, including Core Banking, Loan Origination, Loan Management, Anti-Money Laundering (AML), Mobile Banking, and Internet Banking tailored for both retail and corporate clients. Kiya.ai is currently working with 650+ financial institutions and aims to onboard around 20 financial institutions in the Philippines in next three years.
Rajesh Mirjankar, MD & CEO of Kiya.ai, said, “We are excited to mark our presence in a geography like the Philippines, where the banking ecosystem is very dynamic and rapidly evolving. Like many other countries, the Philippines has witnessed a significant shift towards digital banking in recent years. Traditional banks have been investing heavily in digital infrastructure to offer online and mobile banking services, allowing customers to perform transactions conveniently from their smartphones or computers.”
“There has been a transformation of perception for Indian Fintech companies globally. Indian Fintechs like us have proven our capabilities in product development, innovation, and scalability, particularly in areas like UPI, Aadhar, Jan Dhan Yojana, etc., and this has given us a competitive advantage to expand globally,” Mirjankar added.
Amit Sharma, President of Kiya.ai, said,”The Philippine economy has transformed significantly, emerging as one of Southeast Asia’s fastest-growing with a 5.9% year-over-year growth rate. This diversity-rich growth offers abundant opportunities for financial institutions and companies to expand. We are excited to begin our journey in the region, committed to empowering global financial institutions with cutting-edge technology, driving digital innovation, and delivering unmatched value to customers. With partnerships like CBB, we aim to revolutionize the Philippine banking landscape, enhancing efficiency and fostering sustainable growth. We look forward to a fruitful collaboration and the positive impact of our advanced banking solutions on CBB’s success.”
Ismael R. Sandig, President and CEO of CBB, said, “Over the last decade, CBB has emerged as a key player in the rural banking sector, being at the forefront of the phygital (physical-digital) banking revolution. Our collaboration with Kiya.ai testifies to our commitment to enhancing customer experiences, streamlining operations, and driving sustainable growth. Kiya.ai has proven to be a trusted fintech partner for financial institutions globally, and with their innovative solutions, we are poised to embark on a transformative journey towards digital excellence.”
In January of this year, Kiya.ai teamed up with Arab Financial Services (AFS) to elevate the technological landscape of the banking and financial services sector in the 20 countries of the Middle East and Africa.