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Philippine Savings Bank (PSB)
PSBank - Aligning technology to customer needs
Today's fast-paced lifestyle dictates how people do their business, not just ordinary day-to-day activities but equally important, their banking requirements. This lifestyle makes it imperative to re-orient a bank's organizational set-up and its culture to meet this consumer need, and in the process, reach out to the ordinary depositors and consumers faster and more efficiently.
As one of the leading thrift banks in the country, Philippine Savings Bank, or PSBank, is conscious of the quality of service it dispenses and refuses to be outdone in the evolving consumer-driven processes in the banking field. It is aggressively aligning its technology plan with its business infrastructure and customer requirements to fulfill its vision of becoming the consumer and retail bank of choice.
Banking Services
The historic Plaza Miranda is where PSBank first opened its doors on September 26, 1960. Dr. Guillermo Picache, the Dolor family, and subsequently, the Metrobank Group led and guided PSBank to the status it holds today: a major player to reckon with in the savings bank industry.
Now with 103 branches in key areas across the country, the Bank offers a wide range of products and services that cater mainly to retail (i.e. small and medium scale) and consumer segments of the market. It plans to expand its branch network by opening 18 more new branches this year in strategic locations.
Aside from the usual array of deposit, trust and investment services, foreign and domestic remittances facility, and investment counseling, the Bank also offers consumer loan products such as the mortgage loans' PSB Home Rate Protect, auto loans, and salary loans under the PSB Multipurpose Loan and Flexiloan programs. The Bank has likewise stepped up its lending activity to the micro-segments of the economy (small and medium enterprises).
In 2002, PSBank outpaced some of its key competitors and emerged as the second largest savings bank in the country in terms of assets.
Customer focus
Mr. Pascual M. Garcia III, PSBank President, pointed out the Bank's two target markets. Its principal market is the consumer sector, from 900,000 small to medium-sized enterprises to 12 to 13 million households in the country. This sector represents the majority of the Bank's clientele. Its secondary target market is the large corporations.
"The consumer sector may have smaller requirements compared to corporations, but the sheer volume of transactions required by them argues for the need of the Bank to have a very strong, responsive infrastructure," Mr. Garcia said.
Mr. Pascual M. Garcia III, PSBank President
In a banking industry where products and services are indistinguishable, PSBank strives to improve its services to its customers. It has harnessed powerful technology applications that are seamlessly integrated to deliver higher levels of productivity, growth, and service differentiation. Mr. Garcia added, "Technology is extremely critical; this is where the essence of success lies. The interaction with the customers requires a very strong system to support the delivery of our services."
Technology Plans
According to Mr. Noli S. Gomez, PSBank's FVP and Chief Finance Officer, information and communications technology projects are in the pipeline. The first is the implementation of the Collection and Asset Management System (CAMS) where Fujitsu Philippines, Inc. is providing support
The CAMS was developed to complement the Integrated Loans System, which manages the Bank's automated credit and loans operations. CAMS is a front-end system and is largely a management tool that will ensure efficient and reliable collection process. It will ensure that collectibles on all loan types are tracked in various stages, and in the process, provide the Bank with accurate and real-time information critical to decision making. Equally important is CAMS' ability to allow the Collection Division to service customer needs efficiently.
The other projects in the pipeline include the following: Intranet-based Credit Rating System, Integrated Financial Accounting System, Internet and Mobile Banking, and enhanced Management Information System. These projects are geared towards improving customer service and operational efficiency, and will require training and building a knowledge-based skill that is more sales- and service-oriented.
Mr. Noli S. Gomez, PSBank's FVP and Chief Finance Officer
Competitive Edge
Mr. Garcia stressed that the two main challenges confronting PSBank are the organization and technology infrastructure. A responsive, streamlined organization supported by an efficient technology infrastructure will allow even a comparatively small savings bank to compete with the larger commercial banks by its ability to deliver faster and quality service to more customers.
Other institutions are just happy maintaining and keeping their systems operating at current levels without making the effort of fully aligning the business to changing customers' needs and wants. "That is why we are focusing on rebuilding our organization and infrastructure. Recent technology developments worldwide show that customers' expectations on banking services have changed. They want service that is fast and is efficient but does not compromise quality. They want it where they need it, when they need it, not when it's made available."
Closing the gap
"Our information and communication technology projects are hinged on managing users' perceptions and requirements. The success of the Bank is heavily dependent on customers' involvement. It is not so much as the technology that makes the system great, but the value-added benefits that they derive from it," President Garcia concluded.
Customers matter most when it comes to deciding which system will work best, and therefore which one to employ. The ability to close the gap between what the customers require and what the Bank can provide is the most important thing in a business that thrives on service.
