Banking software company Temenos announced that PBCOM will work with Temenos Transact’s next-generation core banking software-as-a-Service to offer “digital first.” Did. Filipino banking service.
PBCOMobile is PBCOM’s mobile-only service suite, one of the largest commercial banks in the Philippines. PBCOM offers a wide range of financial solutions, from deposits, businesses, commerce and personal loans to cash management solutions and investment services.
With the support of Temenos, PBCOM has become one of the first commercial banks in the Philippines to be approved by regulators to host its core banking system in the cloud. Temenos SaaS has enabled PBCOM to use mobile apps to drive mass market adoption, deliver new digital products and services, and provide low-cost channels to attract new customers. ..
The Temenos SaaS solution allowed PBCOM to create PBCO Mobile. This is a self-service onboarding and origination experience for retail and corporate banking customers that drives sustainable growth and streamlines product applications. PBCOM will also leverage Temenos API First Technology to pursue open banking initiatives, enabling third-party developers to create a digital ecosystem of products and services for PBCOM’s customers. The PBCOMobile app was launched during a pandemic and national blockade to attract and serve “digital first” customers. With this app, non-PBCOM customers were able to open a bank account immediately by sending a selfie and an image with a valid ID.
PBCOMobile customers can use the app to deposit checks into their accounts, request that their PBCOMobile debit cards be delivered physically directly, and then securely link, activate, and control their debit cards from the app. .. The PBCOMobile app also offers the usual benefits of mobile banking, including real-time transfers to other banks, prepaid reloads, bill payments, transfers to other PBCOM accounts, and account maintenance. You can also use the PBCOMobile Concierge feature to request account-related transactions through the app. The PBCOMobile app is available on the Apple App Store, Google Play Android Store, and Huawei App Gallery.
By using Temenos to deliver core banking software from the cloud, PBCOM can focus on its core business and devote its capital and resources to better banking solutions. With the PBCOMobile app, PBCOM created a virtual branch that allowed customers to access their accounts, execute transactions, create applications, and communicate with the bank’s service desk through video conferencing.
John Howard D. Medina, Chief Operating Officer of PBCOM, commented: “Temenos is building a” digital first “banking service for customers that can be accessed from mobile devices. The Temenos SaaS platform enables new digital products and services to reach market much faster. And because it’s open and extensible, you can easily innovate and take advantage of open banking and financial ecosystem opportunities to create digital experiences that help your customers manage their money and improve their financial life. .. “
Jean-Paul Mergeai, President of APAC and MEA at Temenos, said: “We are proud to be able to support PBCOM to build and extend groundbreaking digital banks. With Temenos SaaS, PBCOM excels in localized rich banking capabilities and advanced cloud technology. The combination will allow banking services to be quickly and easily expanded into new market segments. This is an exciting development of digital banking for the Philippines, where banks continue to innovate and transform the digital experience of individuals and businesses across the country. I’m looking forward to doing it. “