GCash, the Philippines’ premier finance app and the largest cashless ecosystem, has recently been honored with the Company of the Year Award for the country’s Financial Technology Industry by Frost & Sullivan, a leading global analysis and growth strategy consulting firm.
This prestigious accolade recognizes GCash’s trailblazing use of digital solutions and innovative financial services, underscoring its significant achievements in the financial technology sector. The award highlights GCash’s commitment to deploying best practices and strategic analytics throughout its value chain.
Frost & Sullivan’s evaluation identified several key practices and strategies that set GCash apart. These include the promotion of financial inclusion through a simplified banking application process, facilitated by a digital onboarding system that only requires consumers to provide basic personal information such as their mobile number, address, and email—a departure from traditional banks’ document-heavy procedures.
Additionally, GCash’s investment in next-generation technology, such as its electronic know-your-customer (eKYC) service powered by artificial intelligence and machine learning, enhances the customer service experience by enabling face matching and fake identification detection. The company’s Credit service streamlines the application process, offering consumers instant credit lines of up to P50,000 and enabling credit payments at over 100,000 stores and billers.
With over 94 million Filipinos utilizing GCash to date, the platform stands as a frontrunner in the Philippines’ fintech industry. Digital transactions now represent nearly half of total retail payments nationwide, marking a substantial increase from a decade ago when the figure stood at just 1%.
Frost & Sullivan analysts evaluate candidates for the Company of the Year Award based on two primary criteria: Visionary Innovation and Performance, and Customer Impact. Martha Sazon, President and CEO of GCash, emphasized the company’s dedication to addressing the evolving needs of customers and driving financial inclusion. She expressed gratitude for the recognition and reiterated GCash’s commitment to its vision of Finance for All and its mission of Making Filipinos’ Everyday Lives Better.
