The service is backed by EastWest Rural Bank, while paying an annual interest rate of 3% for its Digital Savings Account with no minimum balance. This latest digital initiative is part of the bank’s transformation program and commitment to keep innovating with changing customer needs and launching solutions that are seamless, secure, and reliable, as Manila Bulletin reports.
On May 8, 2020, Komo received approval from Bangko Sentral Pilipinas (BSP) to launch its digital bank services to the public. This marks the countdown to an anticipated product launch sometime in the third quarter of 2020.
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