By Mark Isaiah David
Posible.net, a digital financial services provider based in Makati City, beat the odds and was recently chosen as one of the Top 15 Finalists at the prestigious DBS-NUS Social Venture Challenge Asia (SVCA) Awards.
The SVCA is an annual competition sponsored by the DBS Foundation and the National University of Singapore (NUS). It aims to recognize and support innovative ideas and social enterprises that are replicable, sustainable, and have the potential to create a positive impact.
This year’s competition featured two categories: The Idea category for innovative, out-of-the-box solutions to Asian community problems, and the Enterprise category for start-ups and existing ventures, which aim to make a positive impact in the community.Brand awareness, product development support, and a prize worth SGD150,000 await the winners.
Amid more than 1,000 entries from 27 countries all across Asia, Posible.net made it to the top and was selected to be the lone Philippine entry in the Enterprise Category. “This is a huge accomplishment from us, considering the competition from other countries such as Singapore and China. We are most likely to be the first Finalist from the Philippines in the last three years of the competition, and that’s also a testament to the value that we bring to the Filipino,” said Marvin Kenneth Santos from Posible.net’s Marketing team.
Posible.net is a Filipino startup social enterprise that aims to bring financial services and digital transactions closer to underserved communities. The company works to bring bank services such as bills payment and money remittance right to the doorstep of Filipino entrepreneurs all across the nation — and Asia in the future.
Despite the predilection for digital devices and love for the internet, less than 20% of Filipinos have an online banking account. Moreover, only 1% of the 2.5 billion payments per month are done electronically.
Complicating matters is the reality that more than 400 of the 1,643 towns and cities in the Philippines do not have access to banks or payment centers. With current traffic woes costing Filipinos thousands of hours every year, traveling to a bank or payment center to send money or pay bills is increasingly becoming an inconvenient endeavor.
Through an easy-to-use device and all-in-one software platform, Posible.netmakes these essential banking services more accessible for Filipinos. The low entry cost and simple operation make it possible for micro, small, and medium businesses to raise their value by becoming a financial services touchpoint in the community.
Online voting for the 2017 SVCA Reader’s Choice Award is currently ongoing until September 22. To vote, go to http://www.asiaforgood.com/SVCAtop15 and choose POS!BLE.NET from the Philippines among
the 15 Finalists.
Tags: DBS-NUS Social Venture Challenge Asia, Enterprise category, Filipino entrepreneurs, financial services provider, Marvin Kenneth Santos, National University of Singapore, POSIBLE.NET reaches 2017 Social Venture Challenge Asia Awards Finals, product development support, social enterprises, Social Venture Challenge, SVCA