Philippine government bank simplifies account opening

By eGov Innovation Editors | Feb 3, 2012

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The Land Bank of the Philippines (LANDBANK), a government financial institution in the Philippines and the country’s largest formal credit organization in the rural areas, has signed up for IBM’s Customer Advisor Accelerator solution to improve reduce account opening processing time by at least 50 percent.

“This will enable LANDBANK to become more responsive to our customers’ needs and will provide a more pleasant experience as account opening is normally the first interaction with the bank,” said Alan Bornas, Senior Vice President and head of LANDBANK’s Technology Management Group.  “This project with IBM is also aligned with the Government Regulatory Requirements and is aimed at improving public governance through the automation and elimination of manual works."

The IBM Customer Advisor Accelerator solution will help the bank manage information efficiently from various sources and formats, including electronic documents and images, enhance security in banking transactions and customer data, reduce paper-based document archiving, and enable a more efficient regulatory compliance.

BPM could also assist banks realize faster returns on investment through a process-centric approach and gain timely insight into potentially fraudulent activities before they become problematic. Banks with BPM would be able to monitor and act on changing consumer trends.

“IBM’s deep industry knowledge and leading software and services solutions will enable LANDBANK to have integrity of data, improve staff productivity, minimize reputational risk, and more importantly achieve better customer satisfaction starting with a simple and efficient account opening experience,” said Victor Silvino, Country Manager for Software Group, IBM Philippines.

The IBM-LANDBANK Simplified Account Opening contract will be completed in approximately 17 months.