CIMB ties up with Bayad Center

MANILA, Philippines — CIMB Bank Philippines signed a partnership with Meralco’s Bayad Center, launching a new and innovative financial solution for customers.

CIMB Bank Philippines chief executive officer Vijay Manoharan said the partnership aims to drive further digital banking adoption among Bayad Center’s four million active users and promote financial inclusion in the Philippines.

“We pride ourselves in being an all-digital platform bank that empowers customers through strategic partnerships. We are very excited with this new engagement with Bayad Center, as we see it as an opportunity to not only reach more Filipinos, but also allow us to showcase our expertise in providing financial solutions to our customers through our services,” Manoharan said.

The Kuala Lumpur-based multi-awarded all-digital bank is extending credit facility covering both personal loans and revolving credit lines to the eligible customers who regularly pay their bills through Bayad Center’s mobile app.

Bayad Center president and CEO Manuel Tuason said the partnership with CIMB opens up many opportunities wherein existing customers can access digital banking solutions through the Bayad Center App.

“Working with an all-digital mobile-first bank like CIMB will greatly help us in delivering our promise to our consumers in providing payment convenience through financially inclusive products,” Bayad Center chairman and Meralco president Ray Espinosa said.