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Friday, March 3, 2023

CIMB offers innovative financial products and services to help millennials improve their financial wellness

According to the bank's research, 84% of Filipino millennials face financial limitations that prevent them from achieving their long-term goals. These limitations include lack of savings, high expenses, and debt. In response, CIMB Bank Philippines plans to offer innovative financial products and services, as well as a financial literacy program, to help millennials improve their financial wellness. Through these initiatives, the bank aims to empower millennials to take control of their finances and pursue their life goals with confidence.

In collaboration with Southeast Asia consumer research agency Milieu Insight and the Ateneo Business Resource Center of the Ateneo de Manila University John Gokongwei School of Management, the said study found that that 1 in 2 Filipino millennials surveyed are not pursuing, or believe that they are not making progress on, their life purpose. The study also revealed that 65% of surveyed Filipino millennials cited financial limitations were the biggest barrier in pursuing their life's purpose.

Photo shows, from left to right: Director Antoinette Jadaone, Cat Triviño, Milieu Insight Co-Founder and Chief Commercial Officer Juda Kanaprach, CIMB Bank PH Chief Executive Officer Vijay Manoharan, CIMB Bank PH Chief Marketing Officer Bunny Aguilar, Ateneo Business Resource Center Director Dr. John Luis Lagdameo, and Ateneo de Manila University John Gokongwei School of Management Marketing & Law Department Chair Dr. Norman Tanchingco.

CIMB Bank Philippines Chief Marketing Officer Bunny Aguilar said that the company will soon launch an active financial literacy campaign and offer meaningful financial products as an advocacy for the Filipino millennials. “To learn that half of the Filipino millennials are not actively pursuing what they think they’re meant to do, their life purpose because of financial limitations, we took it upon ourselves to let them know that CIMB is here to encourage them to live their life purpose. We will provide better accessible financial solutions and financial literacy awareness to help them and our customers achieve their life goals,” Aguilar said.

Aguilar also revealed that the study and partnerships with Ateneo and Milieu Insight are the first steps in repositioning the CIMB Bank PH brand with purpose at the center. “With our #LiveYourPurposeWithCIMB program, we will focus all efforts in making CIMB brand in the Philippines as the digital banking service provider that helps our customers pursue their life purpose,” Aguilar said.

Learn more about CIMB’s study and campaign here.

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