To replicate Gcash success: Globe aims to develop another innovative app

CEBU, Philippines — Helping the Philippines succeed in developing its financial technology (Fintech) ecosystem, Globe Group is studying to develop another groundbreaking app, replicating the success made by its Fintech arm, GCash.

Speaking on NASDAQ’s Trade Talks with Jill Malandrinoon the sidelines of the 2023 Singapore Fintech Festival (SFF), Globe Group president and chief executive officer (CEO) Ernest Cu said the company is currently looking at areas where there’s a large problem to solve, where problems continue to be pervasive, and no one’s paying attention.

“So we look at a lot of nascent areas where problems continue to be pervasive and no one’s paying attention, no one’s taking advantage of building something. If it fits the assets we have, this gives us what we call unfair advantage, then we go into it,” said Cu

According to Cu, the company’s pivot into a full-fledged techco aims to provide disruptive solutions to problems that Filipinos confront day-to-day.

“We want to repeat that again. We look at areas where there’s a large problem to solve. It’s got to be large because it’s got to move our needle,” Cu said speaking about the rise of GCash.

Cu also spoke of the Globe Group’s ethos in a panel discussion on raising unicorns at SFF, sharing his vision of making the company responsive to the country’s problems.

In its beginnings as a core telco business, Globe solved Filipinos’ communication problems. With its solid connectivity infrastructure as a foundation– its “unfair advantage”– the Globe Group has been casting a wider and wider net.

Today, beyond fintech, the Globe Group provides digital solutions in the areas of healthtech, adtech, edutech, climate tech, shared services, investments and entertainment.

It’s all about being responsive to customers’ evolving needs, Cu said.

“My responsiveness is almost real-time. If I respond almost 24/7, there’s no reason you shouldn’t respond to me. In a way that reflects how your responsiveness is to customers,” Cu noted.

At the end of the day, he added that Globe Group is a consumer service company. “We are here to serve our consumers, whether it’s telecommunications, whether it’s healthcare, or whether it’s fintech. We want to instill that notion of responsiveness among our people, and I guess for me it starts at the top.” — (FREEMAN)