Building on IT strength after IT strength

First e-Bank has shifted to a new networking system and its chief information officer, Primo Aguas, couldn’t be happier.

"We are very practical and prudent in the technology that we acquire, so the solutions we choose have to be tried and proven," said Aguas. "File downloads that would have taken 30 minutes on our old computer systems now take only 10 minutes."

Going to the market

The bank, which was formerly called PDCP Bank, plans to set up Internet kiosks in each of its 60 branches nationwide to enable its clients to access the bank’s services even if they do not have Internet access at home or in the office.

These kiosks will initially be opened in Metro Manila branches.

"For us, it’s just a matter of penetrating that market and offering the right products and services," said Aguas.

First e-Bank also intends to develop the 19-year-old and younger market, which makes up about half of the country’s population "This is the computer literate segment of the market. Three to four years from now, these will be the same people who will use technology in their banking needs."

In the last two years, First e-Bank has been building on its strength in information technology. It wants to be known as the country’s first fully integrated online bank.

It was the first bank to introduce mobile phone banking in the country in 1999. More recently, it developed the electronic wallet called "Smart Money" with the help of its affiliate, Smart Communications Inc.

Aguas is working closely with the bank’s marketing people to develop and deliver more electronic-based products and services to the market.

Experience

Aguas has over 24 years of experience in the IT industry. Prior to moving to First e-Bank, Aguas was the CIO of Rizal Commercial Banking Corp for close to eight years and led the financial sector group of Andersen Consulting.

"The Internet should be looked at by organizations as a way of improving processes, communications and information dissemination as well as of reducing costs. We don’t have to print policy manuals, memos and updates anymore. We just publish it on the web and the branches can access the information immediately," Aguas said.

With the implementation of the new core retail deposit and loans systems, Aguas has further improved First e-Bank’s communication system with the branches. "If a teller has questions about a particular function, he or she can send the e-mail inquiry directly to us at the head office and we will immediately respond to their questions."

Voice over Internet Protocol (VOIP) has also reduced the bank’s expenses by allowing a branch officer to call anybody in the First e-Bank network as if it were a local call.

With all these projects now in place, Aguas is confident the bank will be able to fully get back its IT investments in less than a year.