Palawan Group of Companies, founded by visionary couple Bobby and Angelita Castro nearly four decades ago, achieved remarkable success at the recent Asian Banking and Finance (ABF) Fintech and Retail Banking Awards.
The leading pawnshop and remittance company in the Philippines was honored with three prestigious awards: the Financial Inclusion Award for Palawan Group of Companies, the New Fintech Product Award for PalawanPay at the ABF Fintech Awards, and the Finance Company Inclusion of the Year at the Retail Banking Awards. These accolades underscore Palawan Group’s dedication to financial inclusion and innovation.
The ABF Retail Banking and Fintech Awards are the foremost recognition program for Asia’s banking and finance industry. These awards celebrate top performers for their innovative solutions, breakthroughs, dedication and exceptional customer service, which have redefined industry standards.
The ceremony was held at the Marina Bay Sands Expo and Convention Centre in Singapore on July 4, gathering over 100 banks, finance, and fintech companies, along with 400 C-Level executives and senior finance and banking officers from across Asia. Palawan Financial Services Corporation’s president and CEO Third Librea, Head of Marketing Bernard Kaibigan; along with their PR agency, Browne Communications’ Managing Partner, Laarni Reyes, and Business Development Director, Amby Molina, received the awards at Marina Bay Sands.
Entries for the awards were rigorously evaluated by a distinguished panel of judges, including EY Asean Regional Managing Partner, Liew Nam Soon; Bain & Co.’s Financial Services Partner, Alessandro Magarini Montenero; PwC Southeast Asia Financial Services Strategy and Operations Partner, Mansi Singh; and Deloitte Southeast Asia Audit and Assurance Partner and CFO Program Leader, Ho Kok Yong. Their collective expertise ensured a stringent selection process, culminating in the recognition of truly deserving institutions.
At the heart of Palawan Group’s achievement is its unwavering commitment to championing financial inclusion in the Philippines. This dedication has been recognized with prestigious awards such as the Financial Inclusion Award at the ABF Fintech Awards and the Finance Company Inclusion of the Year at the Retail Banking Awards. These accolades underscore Palawan Group’s outstanding contributions to providing accessible financial transactions, particularly to unbanked and underbanked Filipinos.
Bernard Kaibigan, Palawan Group of Companies Enterprise Marketing Head, receiving the Finance Company Inclusion Award at the ABF Retail Banking Awards
Palawan Group of Companies, a 100-percent Filipino company owned by the Castro family, was lauded for championing financial inclusion and innovation at the Asian Banking and Finance (ABF) Fintech and Retail Awards 2024. Receiving the recognitions were (from left) Laarni Reyes, Managing Partner of Browne Communications; Third Librea, president and CEO of PalawanPay; Bernard Kaibigan, Enterprise Marketing Head for Remittance and Auxiliary Services; and Amby Molina, Business Development Director at Browne Communications.
Bain & Co. ABF Awards panel member Alessandro Magarini Montenero, Financial Services Partner (center), together with the executives of Palawan Group and Browne Communications, received the Financial Inclusion Award and Fintech New Product Award at the ABF awarding ceremony.
The company’s commitment to financial inclusion is evident through its extensive reach. Its one-stop money shop, Palawan Pera Express Padala, now boasts over 10,000 outlets across the country, reaching even the most remote areas. This service ensures secure and affordable domestic and international remittances. Additionally, PalawanPay has accelerated financial inclusion, bringing over 19 million customers into the fold within two years and making financial transactions more convenient for everyone.
A standout among Palawan Group’s accolades is the New Fintech Product Award, bestowed upon PalawanPay, the country’s fastest-growing e-wallet app. PalawanPay was lauded for its seamless fund transfers, efficient bill payments, quick e-loading, and reliable integrated QRPH scan-to-pay feature.
The app also facilitates international remittance, online pawn renewal, and micro-insurance services, all accessible at the customers’ fingertips, empowering users with 24/7 financial management capabilities. The PalawanPay app is also 100 percent “Gawa ng Pinoy, Para sa Pinoy” (made by Filipinos for the Filipinos) which showcases Palawan Group’s pride in Filipinos’ capabilities and their desire to help Filipinos everywhere. PalawanPay customers can enjoy unparalleled flexibility and convenience in accessing financial services anytime, anywhere, offering a seamless blend of in-branch and online services.
“We are honored to receive these prestigious awards from the ABF Fintech and Retail Awards 2024. This recognition is a testament to our unwavering commitment to financial inclusion and innovation. At Palawan Group, we strive to empower every Filipino with accessible and reliable financial solutions, and through PalawanPay, our digital e-wallet, we demonstrate ongoing innovation driven by our goal of advancing financial inclusivity,” said Third Librea.
“Receiving the Finance Company Inclusion of the Year Award from the ABF Retail Awards 2024 is a significant honor for us at Palawan Group of Companies. This accolade reaffirms our mission to enhance Filipinos’ lives and livelihoods, especially in the unbanked and underbanked sectors. We are dedicated to fostering financial inclusivity across the country and delivering relevant solutions to make Filipino lives easier and financially better,” expressed Bernard Kaibigan.
These awards are a clear demonstration of Palawan Group’s relentless pursuit of innovation and customer centricity, and its commitment to providing “mura, mabilis, at walang kuskos balungos na serbisyo” (affordable, fast, and hassle-free services). As Palawan Group continues to set new benchmarks in the industry, it remains steadfast in its mission to empower Filipinos with accessible, efficient, and convenient financial solutions that ensure a win-win situation for everyone involved.
Palawan Pawnshop, Palawan Express Pera Padala, Palawan ProtekTodo and PalawanPay are supervised by the Bangko Sentral ng Pilipinas. For more information, go to Palawan Pawnshop and PalawanPay websites.
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