Chinabank was recognized among the most innovative banks in the world at the Infosys Finacle Innovation Awards 2023 held recently in Mumbai, India.  The Bank's Automatic Debit Arrangement (ADA) and Direct Debit Arrangement (DDA) cash management solutions won the Gold Award in the Product Innovation category.

Chinabank’s ADA and DDA are secure and convenient collections options via its digital banking platform Chinabank Online. ADA is a payment facility that electronically initiates recurring or scheduled collections from customers’ or subscribers’ enrolled deposit accounts. Meanwhile, DDA, is a total outsourcing solution for the payment collection of biller companies.  These arrangements enable corporate customers to improve the efficiency and timeliness of their receivables collections from their subscribers.

Chinabank Cash Management Head Domingo Dayro, Jr. noted Chinabank’s commitment to leveraging technology to deliver exceptional customer experiences. “As we enter this era of fast paced and technologically-driven bank products and services, our pledge to keep up and even be at the forefront in bringing innovative solutions for corporate partners will always be our primary motivation to push forward.  Innovation coupled with top notch security features will, without a doubt, keep Chinabank as one of the top-of-mind banks not only for corporate giants but for the MSME segment as well.”

The Bank’s innovative cash management solutions were also distinguished by Pay360 and the Asian Banking & Finance in 2022. The former named Chinabank Easy Tax Filing & Payment Solution (Easy Tax) as the Best Product - Regulatory Technology, while the latter named Easy Tax and DDA as the Best Digital Business Banking Initiative for Business Customers. Easy Tax is the first and only automated tax filing and payment facility of its kind in the Philippines.  It also won for Chinabank an award from Infosys Finacle in 2019.

The Infosys Finacle Innovation Awards celebrate innovative application of technology in the Banking sector. This year’s awards program received over 200 nominations across 10 categories. Chinabank and the other winners were selected for their innovative strategies to differentiate themselves and create unparalleled value for their customers, employees, investors, and the wider community.