Philippines in forefront of banking software development

MANILA, 8 OCTOBER, 2003 – Leading Philippines banks will get the opportunity to see first hand the latest world class banking solution – emanating from a recently established global 'centre of excellence' for the development of banking software in Manila.

Australian company, Financial Network Services Pty Ltd ('FNS') - an acknowledged global leader in integrated core banking solutions - is scheduled to meet with the Philippines' leading banks in early October.

FNS Vice President, Corporate Marketing, Trevor Builder, said FNS will be detailing the latest enhancements to the company's BANCS® solution – including refinements developed at the company’s software centre of excellence in Manila.

Mr Builder explained that the Manila software development facility had been established to accelerate developments in the company’s software and provide customer support in response to demand from financial institutions around the world.

The Philippines was one of the first countries in the region to implement the company's BANCS solution which was successfully piloted and implemented at the Manila branch of the China Trust Commercial Bank (CTCB) before being rolled out by CTCB in Taiwan.

CTCB Philippines has recently been reported as surpassing its full-year income target in just eight months, attributing this partly to efficient management of costs, improvement in the quality of risk assets, and steady progress in customer acquisition and retention.

The BANCS solution has also revolutionised other banks in both rapidly developing and mature economies, enabling the successful development of greatly expanded branch and ATM networks, real-time branch automation, the support of new facilities such as Internet and phone banking and the deployment of sophisticated new banking products and customer relationship strategies.

Mr Builder said BANCS - originally developed as a Core Banking Solution - has now been augmented to provide fully automated front-end multi delivery channels and other applications such as Payments, Cards, Treasury and Trade Finance.

One of the greatest advantages of BANCS was its scalability and total integration of the various banking functions such as loans, deposits, cards, payments, treasury and trade finance on a common platform across the entire bank network. The software also enabled the customer to design and roll out new banking products faster than their competitors.

This has translated into increased productivity, profitability and flexibility and the ability to respond rapidly to market demands for new financial products.

"BANCS has been described by some of our customers as their 'secret weapon' for competitive advantage by dramatically improving both the top and bottom line of their business." Mr Builder said.

Media enquiries:
David Petrikas
+61 2 9943 2026
Mob 0408 636 414

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development