# Cloud-Based Financial Services PearlPay is Testing Rural Banking Solutions in the Philippines By Daniel Johnson | Published 2019-11-20 | Business Source: Trend Hunter, https://www.trendhunter.com/trends/cloudbased-financial-services References: [technology.inquirer.net](https://technology.inquirer.net/86869/financial-technology-startup-targets-rural-banking-sector) & [pearlpay](https://www.pearlpay.com/en/) 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](https://www.trendhunter.com/trends/amina-bank) and [agent banking solutions](https://www.trendhunter.com/trends/project-nemo), 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](https://www.trendhunter.com/trends/commercial-business-systems) 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 ## Trend Insights (Trend Hunter) - Score: 2.0/10 - Popularity: 16% | Activity: 34% | Freshness: 9% - Audience gender: 50% men, 50% women - Primary generations: Gen Z, Millennial, Gen X - Top markets: North America, South America, Europe, Asia, Africa ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Business](https://www.trendhunter.com/business) > [New Ventures](https://www.trendhunter.com/newventures) ## Key Themes ### Key Themes Behind This Trend - **Cloud-based Financial Services:** PearlPay is testing a cloud-based financial services pilot program in the Philippines, providing accessible banking solutions for the unbanked or underserved population. - **Core Banking Solutions:** PearlPay's program focuses on delivering core banking solutions using cloud technology, opening up new opportunities for financial institutions to streamline their operations and enhance customer experience. - **Agent Banking Solutions:** PearlPay's pilot program taps into agent banking solutions with cloud-based services, enabling financial inclusion and access to banking services for people without an internet connection. ### Where This Applies - **Banking:** The banking industry can explore the adoption of cloud-based solutions, like PearlPay's pilot program, to improve accessibility, streamline operations, and reach untapped markets. - **Financial Technology (fintech):** The FinTech industry can leverage cloud technology and develop innovative solutions, such as core banking and agent banking platforms, to address the unbanked population and drive financial inclusion. - **Emerging Markets:** Emerging markets, like the Philippines, present disruptive innovation opportunities for cloud-based financial services, offering scalable solutions to address the challenges of limited connectivity and financial inclusion. ## Related on Trend Hunter - [Banking Super Apps](https://www.trendhunter.com/trends/bankifi.md) - [Integrated Business Banking Tools](https://www.trendhunter.com/trends/pennyflo.md) - [Unified Payments Platforms](https://www.trendhunter.com/trends/payload.md) - [Financial Accessibility-Focused Partnerships](https://www.trendhunter.com/trends/financial-accessibility.md) - [Global Payment Solutions](https://www.trendhunter.com/trends/apay.md) - [Low Income-Targeted Payroll Platforms](https://www.trendhunter.com/trends/b9.md) - [Blockchain Banking Platforms](https://www.trendhunter.com/trends/sol-heaven.md) - [Cashless Business Technologies](https://www.trendhunter.com/trends/aleta-planet.md) - [Blockchain-Integrated Online Banking](https://www.trendhunter.com/trends/online-banking.md)