Banking and insurance service website eCompareMo.com announced at the Finovation 2018 in The City Club in Makati City the company’s desire to revolutionize financial processes in the country.
Finovation is where key executives from C88 Financial Technologies and eCompareMo share exciting developments that the country can look forward to in the fintech sector.
Through the application of developments, J.P. Ellis, Group CEO and Co-Founder of eCompareMo.com’s parent company C88 Financial Technologies, believes technology is key to providing the growing number of customers in Southeast Asia access to financial products and services.
“There has been a lot of talk about game-changers in the fintech industry, specifically artificial intelligence, big data, product customization, blockchain, and information security,” said Ellis. “We predict that these trends will greatly shape the future of the financial services industry, responding to the demand of the market for faster and more convenient ways to accomplish financial processes.”
“With its expertise and deep understanding of the developments we have today, eCompareMo is in an advantageous position to help financial institutions adapt to these new technologies and maximize their positive impact to their businesses and the financial experience of consumers,” Ellis added.
Since its inception in 2014, eCompareMo.com has grown to be the first and only financial supermarket in the Philippines that has an integrated portal with a financial institution, championing the Filipino consumer by offering the most complete lineup of banking, insurance, and investment services online.
The portal serves as a one-stop shop for users applying for a credit card, loan, car insurance, and other financial and insurance products without having to go from one website to another or call insurance providers one by one.
Users can compare interest rates, credit card features and perks, insurance quotations, and apply on the spot for their product of choice. As a value-added service, eCompareMo.com delivers the country’s first and only Car Insurance Concierge, a helpdesk for insurance policy issuance and renewal, as well as claims processing assistance across different providers.
Through the years, eCompareMo.com has expanded its reach and directory by partnering with major financial institutions in the Philippines to supply the needs of the Filipino consumer.
To prove that technology can enhance the financial experience of consumers, eCompareMo.com Chief Commercial Officer Ched Limson introduced and conducted a demo of the portal’s artificial intelligence (AI) bot dubbed “Alex.” The demo showed that the use of artificial intelligence can provide immediate access to necessary financial information without human intervention and error.
Ellis also stressed that there is more potential to improve products and services available to the Philippine market if financial institutions embrace groundbreaking innovations.
“These new developments in the fintech industry should not be dismissed as merely ‘disruptors’ to our current financial landscape. Instead, financial institutions must see them as effective tools to improve on their products and services to benefit Filipinos,” said Ellis. “Exciting times are ahead of us, and we, at eCompareMo, would like to lead the Philippines into the future of the financial industry.”