Philippine Rural Bank Partners with Nextbank to Enhance Digital Banking Services

MANILA, Philippines — Nextbank, a Philippine banking technology company, has expanded its partnership with Mount Carmel Rural Bank Inc. (MCRBi) through the adoption of Nextbank’s Mobile Banking Solution. The partnership will allow MCRBi customers to access digital banking services while the bank continues to modernize its operations. MCRBi’s digitalization efforts began with its adoption of the Nextbank Core Banking System. The bank is now adding mobile banking services to provide customers with more convenient access to banking transactions. “Rural banks are vital to financial inclusion and our role is to equip them with modern, secure and easy-to-adopt digital tools,” said James To, president and chief commercial officer of Nextbank. The Mobile Banking Solution is integrated with MCRBi’s existing core banking system, allowing the bank to provide real-time transactions and secure access to its customers. The partnership is expected to expand digital banking access for families, small businesses and other customers served by MCRBi in the Calabarzon region. Founded in 1966 through the consolidation of two Batangas-based rural banks, MCRBi has been serving customers in the province for nearly 60 years. “Our mission is to help financial institutions build future-ready digital ecosystems that grow with their customers’ needs,” To said. Nextbank provides cloud-based banking technology solutions to rural banks, thrift banks, commercial banks, cooperatives and other financial institutions. Its offerings include core banking, mobile banking, electronic know-your-customer, digital payments and fraud management systems.