Cebuana Lhuillier, LBC Ink Partnership Deal for Money Remittance
Published · Thursday, December 19, 2019 02:10 PM
Customers of LBC Express Inc. and Cebuana Lhuillier will now have easy access to the combined network of the two market leaders in the Philippines.
LBC Express Inc.(LBC), the market leader in retail and corporate courier and cargo, money remittance, and logistics services, and Cebuana Lhuillier (Cebuana), the Philippines’ largest micro-financial services provider, recently inked a partnership with the aim of broadening networks to serve their customers’ domestic financial needs.
Photo shows Cebuana Lhuillier and LBC Express, Inc. executives (from L-R): FilemonCecilioCabungcal, Deputy Chief Finance Officer, Jose Miguel Jimenez, Head of Pawnshop Operations & Group Head, Ergilio Ong, Senior Vice President, Head of ICT, and Product Management Groups, Oliver Valentin, Mr. Oliver Valentin, EVP and COO for Philippine Branch Operations of LBC Express Inc., Miguel Angel A. Camahort, President and CEO of LBC Express Inc., Jean Henri Lhuillier, President and CEO of Cebuana Lhuillier, and Javier Mantecon, Chief Marketing Officer of LBC-Express Global Marketing
Customers can rest assured that their financial transactions are safer and more secured given the track record of the two companies. Just go to any LBC or Cebuana Lhuillier branch to send money to your loved ones and encash it — whichever is more convenient or nearer to you.
"This partnership gives us the opportunity to serve more people with our combined networks and branches," said LBC Express Inc. president Miguel Angel A. Camahort. "LBC is constantly looking for ways to make remittance — as well as other services — accessible to more Filipinos."
The collaboration between the two brands is a practical step to boost both companies' remittance business nationwide.
“Our partnership with LBC Express will make money remittance easier and more accessible to Filipinos. This is in line with our company's decades-long commitment to provide unbanked and underbanked Filipinos better access to financial services," said Cebuana Lhuillier president and CEO Jean Henri Lhuillier.
LBC has been the country's most trusted delivery and cargo shipping and 24-hour door-to-door delivery. It expanded its products and services in tune with the changing market needs. At present, it operates a combined network of 6,400 locations, partners, and agents in over 30 countries, offering not only courier services but also remittance products.
Cebuana Lhuillier, for its part, is a one-stop shop offering microfinancial services to over 30 million customers through its more than 2,500 branches with 6,500 domestic partners nationwide and over 1.5 million physical and virtual touch points worldwide. Acting as a cash agent of Cebuana Lhuillier Rural Bank, the company has provided financial access to about 2.5 million previously unbanked Filipinos through Cebuana Lhuillier Micro Savings since its launch early this year.