Virtual Banking: Philippines based Netbank Introduces Netizen Mobile Banking App in Beta Mode

The Netizen Mobile Banking App by Netbank is reportedly scheduled to launch its Beta Release Testing Program during the fourth week of January 2022 which will provide participants an opportunity to experience the platform’s banking services and features.

As mentioned in a release shared with CI, Netizen throws its hat into the ring of emerging banks as a “One-Stop-Banking Solution” for consumers in the Philippines. The platform  provides innovative solutions so that banking transactions can be carried out by consumers globally.

The Netizen Mobile Banking App has reportedly been developed to serve as an easy, fast, and low-cost solution to allow Filipinos to conduct their transactions safely, without paying too many fees.

Thanks to the new beta program, participants will get “instant access to existing products and features while having the opportunity to provide feedback.”

Young Paul, Head of Netizen Neobanking, stated:

“The reason why we built Netizen is that we recognize the unique needs and challenges of our OFWs. OFWs already experience struggles while working abroad, so banking shouldn’t be one of them.  With this beta launch, participant’s inputs and feedbacks will be the key factor for us to elevate our product and services, also to accommodate the specific needs and requirements of our end-users.”

Overseas Filipino workers may directly remit to their own Netizen Account “without the high fees with their remittance partner Wise.”

The update further noted that it’s now possible to “pay their family bills in the Philippines and even their contribution to SSS, Pagibig, and Philhealth.”

Users can easily “transfer funds to other local banks in the Philippines including Gcash, Grab, and Paymaya,” the announcement explained.

Mobile top-up allows users to “reload their loved ones in the Philippines,” the update noted. For Cash Out Options, Netizen has teamed up with the Ayannah network to “pave way for families and relatives that don’t have bank accounts.”

Users can also “open a time deposit account with their fingertips,” the update revealed.

OFWs can get “a hands-on experience of this app through Android OS on their official launch this February 2022 and will be available as IOS Version this year.”

As an exciting new player to the Philippines’ banking community, a new line of products are to be introduced, including Investment options, Virtual Cards, and Mobile Reloads.  Users may also “look forward to their medical and help-related features such as Insurance (Non-life, Life), and OFW Help Line.”

Netbank (a Rural Bank), Inc. is reportedly “the first banking as a service platform in Southeast Asia operating on a full banking license.” It offers banking services, on a fully white-labeled basis, so that Filipino Fintechs can “grow fast and reduce their costs, thus accelerating financial inclusion and innovation.”

It provides simple, creative, low-cost solutions “so partners can open accounts, offer loans and manage payments.”

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