PR Savings taps IBM for expansion

MANILA, Philippines - IBM announced that PR Savings Bank, one of the fastest growing thrift banks in the Philippines, has selected IBM Power Systems to improve the efficiency and reach of its banking services across urban and rural communities in the country.

PR Savings Bank is implementing the IBM Power 730 Express to help provide financial services, such as loans, deposits, and money transfers for individuals, small and medium companies, across its 92 branches and other banking offices from as far North as Aparri in Cagayan to Davao City in Mindanao. PR Saving Bank will use upgraded infrastructure to improve processing efficiency in loan approval cycles which it hopes to shorten to just a couple of hours.

Founded in 1977, PR Savings Bank has experienced significant growth in the last three years with its loan portfolio increasing 2.4 times and its assets tripling to reach P8.1 billion. Supporting thousands of individual clients and small and medium enterprises means executing numerous transactions daily: handling iterations securely, maintaining full data integrity while ensuring regulatory compliance across multiple subsystems and constantly balancing workloads.