In an effort to further strengthen its position as the “go-to-source” of financial knowledge in the country, Metropolitan Bank & Trust Co. (Metrobank) recently launched a pioneering and comprehensive financial education e-book and platform called “Moneybility” at the Grand Hyatt Manila in Taguig.
Speaking during its launch, Digs Dimagiba, Metrobank’s Chief Marketing Officer, said, “We strive to go beyond just providing the usual banking services and aim to be the credible and reliable partner of our customers for expert financial advice. With education as our driving force, we hope to fulfill their needs while at the same time empowering them to sustain a financially resilient way of living.”
“This advocacy of propelling financial literacy among Filipinos wherever they may be in their financial journey is consistent with our promise of keeping people in ‘good hands.’ Equipped with our decades-worth of experience and wisdom on banking and finance, Metrobank hopes to be the ‘go-to-source’ of financial knowledge through our slate of learning tools and initiatives, starting with our flagship financial education tool, Moneybility,” he added.
According to Dimagiba, Moneybility is no ordinary book or e-book on financial education since it has a collection of money management topics that gets updated as market conditions change. The bank’s new financial education platform also has multimedia and interactive features like quizzes, a money tracker, and a calculator that are perfect for individuals who want to learn savvy money habits about budgeting, dealing with debt, insurance, investing, and many more.
The money topics made available in the e-book were based on actual scenarios in the Philippines, making it more relatable and understandable for the average Filipino. Those interested can opt to sign-up now at moneybility.metrobank.com.ph. The new e-book will become available for download in October this year.
Helping shape a ‘financially inclusive’ nation
As Metrobank marks its six decades of serving Filipinos, it has grown to understand the beneficial effects of financial education in shaping a financially inclusive nation.
According to a 2016 Standard & Poor’s Global FinLit Survey, a country’s financial literacy rate has a direct correlation with its economic development.
In the case of the Philippines, the survey noted that we are trailing behind other ASEAN countries as only 25% of Filipinos are financially literate. This figure is based on the World Bank’s 2014 Financial Capability Survey.
However, the COVID-19 pandemic has since urged more Filipinos to show interest in personal finance. This was further supplemented by the rise of money-related topics by different financial companies as well as content creators across social media platforms.
Metrobank, in an effort to help shape a financially inclusive nation, has since rolled out different financial education tools over the years. It has launched “Earnest,” the learning and investing platform designed for those who are already aware of basic financial concepts and are now looking at getting into investments.
There’s also My Choice Investment, which offers funds for as low as PHP 1,000 and allows account opening of a Metrobank Savings account. Users can go to the website, earnest.ph, or download the app in the Play Store and App Store.
The bank has also rolled out Tara Invest, a series of bite-sized social media video explainers on the basics of investing. For high net worth clients, Metrobank also created an online portal called “Wealth Insights.” Through Wealth Insights, the bank’s finance experts, as well as independent third-party research providers impart timely and relevant investment ideas, as well as thoughtful perspectives on wealth management, and curated market moving news for free.
On personal finance, Metrobank has MoneyBasics, a collection of simple and creative articles and social media posts to help people build a habit of saving. Meanwhile, to educate Filipinos about the dangers of financial fraud and how to prevent it, Metrobank also launched “Fight Fraud,” a fraud awareness content series posted on the Bank’s social media and website.
Together with other banks, Metrobank also rolled out an industry-wide initiative called “ScamProof.ph,” an online source website focused on fraud prevention.
“Money management is not one-size-fits-all, so we have a slew of financial education initiatives that can provide proper guidance to every Filipino. At the end of the day, we envision all of us to be financially resilient so we can face any financial challenge at any point in our financial journey,” Dimagiba ends with a smile.