The Globe Group is now on the lookout for the next “needle-mover” in the industry and is hoping to create a new entity that would emulate the success of GCash, its fintech division.
Globe Fintech Innovations Inc. (Mynt), which operates GCash, is part of the portfolio companies of 917Ventures, the largest corporate incubator in the Philippines wholly owned by Globe Telecom Inc.
Since its launch as an SMS-based money transfer service in October 2004, Globe’s GCash has since become the nation’s top finance super app and the lone double unicorn.
In a recent press statement, Ernest Cu, the president and CEO of Globe, announced that the company’s transformation into a fully functional tech corporation is intended to offer innovative solutions to issues that Filipinos face on a daily basis.
“We would like to do that once more. We examine domains where a significant issue has to be resolved. And it must be substantial in order to move our needle, am I correct?” Cu stated.
“We therefore observe a great deal of emerging sectors where issues remain widespread and no one is making an effort to create something. If it fits the assets that we have, this gives us what we call unfair advantage, then we go into it,” he added.
Inculcating the idea of responsiveness
Globe has initially addressed the communication issues faced by Filipinos by means of its main telco business.
Since then, it has grown by leaps and bounds and is now offering digital solutions for shared services, investments, edutech, healthtech, adtech, climate tech, and even entertainment.
According to Cu, the Globe Group is ultimately a consumer service organization.
“Whether they are in the financial, healthcare, or telecoms industries, we are here to support our customers. I suppose it starts at the top, but we want to inculcate that idea of responsiveness in our workers,” Cu further stated.
