Equicom @ 10:Looking Forward to Bigger Things
Equicom Savings Bank (EQB), the banking unit of the Equicom Group of Companies recently celebrated its 10th year of operations.
Bank executives, business partners and other VIPs gathered at the Marquis Event Place in Bonifacio Global City to commemorate the bank’s milestone.
With a festive atmosphere, live music and fine food, the guests celebrated the bank’s successes of the past decade and listened to the bank’s top brass share their vision for the future.
Mr. Antonio L. Go, Chairman of the Board of Equicom Savings Bank, greeted the guests and shared his thoughts for the bank:“We always hear that banking is changing at a very rapid pace. That is the reason why, in our effort to serve your financial needs in a more efficient manner, the Bank has decided to adopt an expanded and more responsive digital banking platform.
In the Equicom Group, we are committed to innovation and customer-focused initiatives. ”
In line with those commitments, Equicom Savings Bank is currently undergoing a digital transformation, the first step of which is the acquisition of a new core banking system.
Mr. Alan L. Matutina, EQB President said, ”The new system is designed to automate most internal processes and streamline workflows to make EqB’s services faster and more reliable.
The new system allows the bank to enhance and transform both its online and mobile platforms.
The bank will also be debuting a revamped website. The new functionalities are designed to improve a user’s browsing experience while instilling a sense of warmth and personality, both hallmarks of the bank’s customer service philosophy.
Like any company in the 21st century, EQB will also be expanding its use of social media to incorporate more of its branding, advertising along with an enhanced customer service experience.
By increasing its customer touchpoints, EQB hopes to drive closer relationships with both its existing and prospective clients.
The rise of new developments in the banking industry has seen the emergence of Financial Technology companies or Fintechs.
These companies are disrupting the way traditional banks are serving customers. Instead of competing with Fintechs, EqB has forged partnerships with several that share the same vision as the bank. “Our collaboration with Fintechs will expand our reach and help us acquire new customers digitally.” Mr. Matutina added.
E-Banking with EQB
In April, Equicom became one of the five pilot banks to accept transactions via the electronic fund transfer service, InstaPay – with supervision from the National Retail Payment System (NRPS) framework under the auspices of the Bangko Sentral ng Pilipinas.
InstaPay allows EqB customers to instantly transfer funds in real-time of up to fifty thousand pesos per transaction from their Equicom Savings Bank account to any other account of any other participating bank.
EqB is also part of the PESONet network where customers can perform account-to-account fund transfers to any bank in the network within the same banking day.
Rene J. Buenaventura, Vice Chairman of EqB is confident that the bank’s digital initiatives will help the bank serve their customers better. “We assure our customers and clients at EqB that they can count on us to deliver on our promise to provide better banking services to the public by pursuing these new initiatives in digital banking.”, Buenaventura declared.
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