amando m tetangco, jr : scaling up for a more inclusive and more responsive financial system speech by mr amando m tetangco, jr, governor of bangko sentral ng pilipinas ( bsp, the central bank of the philippines ), at the bank marketing awards of the bank marketing association of the philippines, makati city, 28 august 2015. * * * the officers and members of the bank marketing association of the philippines under the leadership of president mike villareal, colleagues in the banking industry, distinguished guests, ladies and gentlemen, good evening. in its website, bmap describes itself as “ an organization of banking institutions which seeks to upgrade the practice of bank marketing in the country. ” on its 41st year, bmap remains true to its mandate. tonight, with the bank marketing awards, bmap rewards the best bank marketing programs and inspires its members to aspire for award - winning excellence. i am therefore pleased to be with you tonight to congratulate bmap and tonight ’ s awardees. you have raised the bar of excellence and henceforth will serve as benchmark in the years to come. after all, it is said that we do not forget our “ firsts. ” this means that the next batch of winners must be truly exceptional to be equally memorable. i hope therefore that bmap succeeds in sustaining this drive to excel that stands to benefit your banks, your customers, and ultimately our economy. your timing is perfect. last month, we launched our national strategy for financial inclusion or what we call nsfi as well as the results of our national baseline survey for financial inclusion. i am positive that both will help you craft marketing programs with optimum results. the nsfi integrates the financial inclusion programs of 13 government institutions including the bangko sentral ng pilipinas. it also provides a platform for government - private partnerships for financial inclusion as a means to achieve inclusive growth. to see how is relevant to you and your bank, you may visit our website at www. bsp. gov. ph. for now, let me share some of the highlights of our national baseline survey on financial inclusion which was completed early this year : 1. ninety - seven percent ( 97 % ) of filipino adults believe that it is important to save money and to have the way or means to save money. and yet, our survey indicated that only 4 out of 10 filipinos actually save money. 2. of

need to bridge the demands of a differentiated public to the array of products and services that are available and possible. you need to distill the complexities of banking to messages that the broad public can relate to and base their decisions on. this should help you build a lasting relationship with your clients. this lasting relationship is the ultimate measure of public trust ; it validates the value proposition that your bank presents to the general public. and if the growth of the banking industry and the increased state of financial inclusion are to be used as measures, then we certainly must recognize the efforts of the best in bank marketing programs. this initiative underscores the convergence in the goals of bmap and the bsp which is to enable more filipinos to benefit from banking services. i am therefore pleased that your awards cover best financial inclusion program, best kiddie savings program, best program in social media, best product program, best brand program and best electronic delivery channel. ladies and gentlemen, we continue to reap the benefits of a strong banking industry. not only are we expanding, the banking industry has remained a pillar of strength in our economy in the face of new volatilities in the global financial landscape. that said, we do have to recognize that we need to address the gaps in our financial inclusion goals. this is where bmap can play a significant role. our ultimate stakeholder, our ultimate market in our efforts is the filipino financial consumer. we want filipino financial consumers to develop good money habits that will them achieve financial independence. indeed, the triumvirate of financial access, financial education and consumer protection makes perfect sense because there is a clear message that is defined for a particular audience. again, here is another case of marketing : targeting specific products and calibrated interventions for specific audiences under specific conditions. given this, i am already looking forward to next year ’ s set of bank marketing award winners. bis central bankers ’ speeches at this point, i want to thank bmap for continuing to expand its partnership with the bsp – the latest being with our fcpd on the project bro campaign ( bsp reaches out ) to emphasize the value of developing saving as a habit at a young age. the “ alkansya ” gives us that cultural backdrop for this effort and i thank bmap for providing the alkansya and shouldering the freight cost to davao, digos, dipolog and iloilo for this campaign. i also