THE Philippine Bank of Communications (PBCom) announced inking a partnership with Swiss banking software company Temenos AG to expand its mobile banking services amid the pandemic-induced shift to digital banking services worldwide.
The bank said the partnership will enable PBCom to deliver new mobile banking products and platforms to their existing customers at a faster rate.
“With Temenos, we are building ‘digital-first’ banking services for our customers they can access via their mobile devices. The Temenos SaaS platform will enable us to bring new digital products and services to market much faster,” PBCom Chief Operating Officer (COO) John Howard D. Medina said.
Temenos Saas stands for Temenos Transact next-generation core banking Software-as-a-Service, the service that PBCom has availed from the Swiss company for its mobile app PBCOMobile.
PBCOm said they are also looking into leveraging Temenos’ application programming interface-first technology to pursue open banking initiatives, enabling third-party developers to create a digital ecosystem of products and services for PBCOM customers.
Medina further their partnership with the software company will enable them to “innovate easily” and “leverage the opportunities with open banking and financial ecosystems to create digital experiences to help customers manage their money and improve their financial lives.”
Meanwhile, Temenos APAC and MEA President Jean-Paul Mergeai said their partnership with PBCOm is a ‘winning combination’ of localized banking functionality and advanced cloud technology.
“This is an exciting development in digital banking for the Philippines, and I look forward to seeing the bank continue to innovate, transforming the digital experience for individuals and businesses across the country,” Mergeai said.