PearlPay entered into an agreement with BHF Rural Bank Inc. to launch a cloud-based financial services pilot program in the Philippines. The pilot program is scheduled to run for 12 months, and it marks the first time a bank in the Philippines is using cloud-based financial services. PearlPay's program will use the technology to provide core banking solutions and agent banking solutions, which were chosen as they can be accessed by people without an internet connection.
Armand Bonifacio, the president of BHF bank, spoke on the pilot program and the need for accessible financial services in the country, "Millions of Filipinos remain unbanked or underserved. While this remains a challenge for economic growth, it also presents an opportunity for organizations to tackle the problem."
PearlPay has a background specializing in end-to-end solutions, which allows customers to access whatever software or hardware systems they may require. The company will look to leverage its background while running the pilot program.
Image Credit: PearlPay