Daisy Mae O. Tambolero
Corporate Office Correspondent
On its 26th year of non-stop banking network, BancNet featured Banco Dipolog Incorporated (BDI) on the July 25 issue of the Philippine Daily Inquirer, a leading Philippine news broadsheet.
The article, entitled “Reaching Out to the Countryside”, mentioned BDI as the first rural bank in the Philippines to become a member of BancNet in Zamboanga del Norte, and as the first rural bank in the country to install POS Cash Out terminals. The following is the transcript of the published article:
Instead of the traditional way of withdrawing from an ATM, bank customers can simply swipe their cash cards at POS terminals and they will receive the requested cash from the teller or cashier.
This year, the bank will install 10 more POS units in its branches in MBO Molave and Aurora EO in Zamboanga del Sur, MBO Piñan, MBO Manukan, MBO Siayan, MBO Liloy and Sindangan Branch in Zamboanga del Norte, and MBO Calamba in Misamis Occidental.
Banco Dipolog was the first rural bank in the Philippines to become a member of BancNet in Zamboanga del Norte.
The bank has already issued a total of 8,386 cards, which represent the number of its BancNet cardholders that benefit from the use of POS terminals to get cash. Non-Banco Dipolog cardholders, whose cards are issued by other banks, also benefit from these POS terminals and the number of POS transactions for these “acquires” number 4,494.
The POS Cash Out terminal is a much cheaper alternative to the ATM machine.
It’s expensive for banks to set up ATMs in the provinces, so we developed the POS terminal so that it can be use instead of an ATM to make cash withdrawals. The person can swipe a card at the terminal and his account will be debited,” said Rovin Vincent Asadon, BancNet’s product manager.
BancNet’s e-banking outsourcing service was launched in 2008 and the service now includes ATM switch hosting, card management and ATM driving for banks.
BancNet’s operational multi-institution ATM switch can issue a bank’s ATM cards, drive a bank’s ATMs, switch ATM transactions, connect to the bank’s authorizer systems for approval and interface the bank to other switches.
With BancNet’s outsourcing service, setting up an ATM switch becomes painless particularly for banks implementing ATM systems for the first time.
For banks that already have existing networks, they may avail of the service and do away with the need to upgrade or purchase replacement systems.
The said feature story on BDI’s latest service innovation is just a proof of the Bank’s solid commitment to take a lead in the rural banking industry in putting the convenience of its clients above anything else.