The Philippine National Bank (PNB) has deployed FIS' core banking solution and Electronic Funds Transfer (EFT) switching solution to improve its operations and drive growth.
Since FIS's core banking solutions easily handles customer management, deposits, lending and financial management reporting, they enable PNB to increase productivity and lower the cost of its operations. The system will also allow the bank to better maintain regulatory compliance and seamlessly expand its abilities as it grows.
The EFT processing capabilities of FIS' CONNEX payment platform on the other hand, will allow the bank to be flexible and scale to meet changing business needs and opportunities.
Under the terms of a multi-year agreement, FIS will be fully operating and managing the ATM switching environment. This includes the complete hardware environment and application software with dedicated application management, operations and FIS specialists at PNB's data centre on a 24x7 basis.
"FIS' core solution and managed services will enable PNB to improve robustness, reduce total cost of ownership through outsourcing, and improve regulatory compliance and investment protection," said Betty Haw, senior vice president and head of software development at the PNB. "With these improvements, PNB now has the ability to focus on strategic growth and delivering innovative products and services for our customers while maintaining top-tier functionality and reliability for our customers."