GCash garners Telco to Ace Financial Services Award
Globe reaped honors at the Twimbit Telecom Awards, with its President and CEO recognized for lifetime achievement and the company honored for its venture into the financial technology space.
Twimbit, a renowned research and advisory firm, empowers businesses to innovate and grow by providing critical industry intelligence. The Awards, which evaluated over 100 companies across 23 categories this year, celebrates excellence in various facets of the telecom industry.
Lifetime Achievement Award
Cu, who has helmed Globe since 2008, received the Lifetime Achievement Award for his exemplary leadership and transformative impact on the telecom industry. He is credited for steering the once trailing company into the country’s mobile leader, holding market share leadership for seven straight years.
In accepting the award, Cu reflected on his path and the collective efforts behind Globe’s success. He also shared insights into the firm’s evolution, emphasizing a culture of innovation and customer-centricity.
“When I embarked on this journey years ago, my vision was to revolutionize the telecommunications landscape in the Philippines. Amidst the disruptions of that era, we adopted a challenger mindset. By embracing disruption, we transformed crises into opportunities and delivered one innovation after another to create wonderful experiences for our customers,” said Cu in recent ceremonies held in Singapore.
Under Cu’s leadership, Globe turned its purpose to uplift the lives of Filipinos through technology, ensuring that no one is left behind. It addresses Filipinos’ daily challenges— from financial services to healthcare, education, and beyond—by providing digital solutions at scale to truly make a difference.
Telco to Ace Financial Services Award
Meanwhile, Globe’s venture into the fintech sector through Mynt, operator of the country’s No. 1 Finance superapp GCash, earned the “Telco to Ace Financial Services” award. This award recognizes telcos that have successfully integrated financial services into their offerings, reshaping banking, payments, and financial transactions.
GCash has been widely instrumental in enhancing financial inclusion in the Philippines and spearheaded the digital adoption of millions of Filipinos.
Cu spoke about the successful evolution of GCash at the awards ceremonies, underscoring its growth in scope, valuation, and impact.
“GCash has become a lifeline for Filipinos, enabling them to carry out daily transactions from the safety of their homes. It has grown from an SMS-based platform to the country’s leading financial app and the nation’s only double unicorn, with a valuation of over $2 billion as of its last funding round in November 2021. Since then, GCash has doubled down on its mission of financial inclusion, expanding its range of financial services for the underserved and unbanked Filipinos,” said Cu.
He highlighted the strategic impact of GCash on the country’s digital economy: “By focusing on providing access, we’ve helped increase the banked population from 29% pre-pandemic to 56%. We now have 6 million merchants and social sellers on the app, and we’ve expanded access to financial services to 13 countries with large populations of Filipinos overseas.”
As Globe continues to lead the digital revolution in the Philippines, it remains dedicated to maintaining market leadership and excelling as a comprehensive digital solutions platform. The company’s success at the Twimbit Awards underscores its unwavering commitment to innovation, customer-centricity, and transformative leadership.
To learn more about Globe, visit www.globe.com.ph.
