BSP, PDIC boost partnership
THE BANGKO Sentral ng Pilipinas (BSP) and the Philippine Deposit
Insurance Corp. (PDIC) have enhanced their partnership to better
regulate and ensure the stability of the banking industry.
Representatives of both regulators on Tuesday amended their "joint
working arrangements" to cope with the changes in banks' operations.
"This amended memorandum of agreement (MOA) reflects our continued
cooperation to ensure that our joint working arrangements are responsive
to the operating environment," said BSP Governor Amando M. Tetangco, Jr
in his speech during the signing of the amended agreement.
The agreement, created in 2005, formalized a framework between the BSP
and the PDIC for joint or independent on-site bank examinations.
It also covered the sharing and exchange of relevant reports between the
two regulators.
Some of the key amendments to the MOA include the expansion of the scope
of PDIC's bank examinations and the enhancement of the regulators'
information-sharing activities.
"In the previous MOA, PDIC could only conduct bank examination on banks
with a CAMELS rating of 1 and 2. This time, they can already examine
banks with a CAMELS 3 rating, but they should justify to the BSP why
they would like to examine a particular bank with a CAMELS 3 rating,"
Mr. Tetangco said.
The CAMELS rating measures capital, asset quality, management, earnings,
liquidity and sensitivity to market risk -- the broad criteria used by
the BSP to check financial health. The scores range from 1 to 5, with 5
being the highest.
Mr. Tetangco said, "While the original MOA has served us well, [the new
one] will align better [the PDIC and BSP's] supervisory procedures,
practices and requirements."
He explained that the new agreement should "harmonize" both
institutions' procedures to prevent the overlapping of functions and
efforts.
"This is consistent with the thrust of the BSP and the PDIC to promote
and strengthen practices in supervised banks and ensure the stability of
the banking system at all times," he said. -- Ann Rozainne R. Gregorio
--
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CARLOS ANI - DEVJOBS INFORMATION SERVICE
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Send private messages to anicarlos@facebook.com
Skype name: carlosaniph
----------------------------------------------------------
Saturday, August 31, 2013
Saturday, August 24, 2013
Metrobank, PSBank ATMs now EMV-compliant
Metrobank, PSBank ATMs now EMV-compliant
(The Philippine Star) | Updated August 6, 2013 - 12:00am
MANILA, Philippines - The Metropolitan Bank & Trust Co. (Metrobank) and
Philippine Savings Bank (PSBank) are the first banks in the Philippines
to have their automated teller machines (ATMs) certified to acquire
EMV-chip enabled cards as part of initiatives to fortify security measures.
The EMV is a global standard initiated by Europay, Mastercard and Visa
to ensure the security and inter-operability of chip cards at
chip-enabled ATMs and merchant terminals.
The implementation of this global standard aims to strengthen the
security in any chip reading facilities against ATM-related fraudulent
activities.
To achieve certification, a bank has to go through an end-to-end testing
process conducted by an independent reviewer to verify compliance with
the EMV standards.
"This is one of our major efforts to enhance the protection we provide
for our ATM users and to raise the security features of our machines to
global standards." Mark Perez, retail banking head of Metrobank, said.
The banks of the Metrobank Group put themselves at the forefront of
EMV-compliance in the Philippines.
Following the certification of its ATMs, Metrobank also plans to issue
EMV-chip enabled debit card in 2014.
Migration to EMV or chip cards likewise marks the start of the gradual
departure of the card techonology from magnetic swipe to computer chips.
Aside from its higher security features, the EMV is the international
standard for credit/debit card or "plastic money."
--
-----------------------------------------------------------
CARLOS ANI - DEVJOBS INFORMATION SERVICE
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Send private messages to anicarlos@facebook.com
Skype name: carlosaniph
----------------------------------------------------------
(The Philippine Star) | Updated August 6, 2013 - 12:00am
MANILA, Philippines - The Metropolitan Bank & Trust Co. (Metrobank) and
Philippine Savings Bank (PSBank) are the first banks in the Philippines
to have their automated teller machines (ATMs) certified to acquire
EMV-chip enabled cards as part of initiatives to fortify security measures.
The EMV is a global standard initiated by Europay, Mastercard and Visa
to ensure the security and inter-operability of chip cards at
chip-enabled ATMs and merchant terminals.
The implementation of this global standard aims to strengthen the
security in any chip reading facilities against ATM-related fraudulent
activities.
To achieve certification, a bank has to go through an end-to-end testing
process conducted by an independent reviewer to verify compliance with
the EMV standards.
"This is one of our major efforts to enhance the protection we provide
for our ATM users and to raise the security features of our machines to
global standards." Mark Perez, retail banking head of Metrobank, said.
The banks of the Metrobank Group put themselves at the forefront of
EMV-compliance in the Philippines.
Following the certification of its ATMs, Metrobank also plans to issue
EMV-chip enabled debit card in 2014.
Migration to EMV or chip cards likewise marks the start of the gradual
departure of the card techonology from magnetic swipe to computer chips.
Aside from its higher security features, the EMV is the international
standard for credit/debit card or "plastic money."
--
-----------------------------------------------------------
CARLOS ANI - DEVJOBS INFORMATION SERVICE
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Send private messages to anicarlos@facebook.com
Skype name: carlosaniph
----------------------------------------------------------
BanKO unveils first-ever LGU mobile banking
BanKO unveils first-ever LGU mobile banking
By Ted P. Torres (The Philippine Star) | Updated August 20, 2013 - 12:00am
And with the help of a technical assistant (TA) grant worth $1.99
million from the United States Agency for International Development
(USAID), the project will simplify payroll distribution for the 300
employees of the local government of Pulilan, Bulacan.
And the cost of paying the water bills for the 10,000 Pulilan households
will fall dramatically, since the residents can use their mobile phones
instead of having to travel to the payment centers.
BanKO is the country's only thrift bank driven by mobile banking
technology. It is a joint undertaking between the Bank of the Philippine
Islands (BPI), Globe Telecommunications (Globe) and Ayala Corp.
BanKO president Teresita B. Tan said that the platform also allows
Pulilan government employees to open a savings account with an interest
rate of three percent, or a one-percent interest rate with free life
insurance.
"It is financial empowerment through mobile technology that will result
in savings for the LGU and the thousands of households using the local
water district," Tan said during the formal launching and activation of
the mobile banking platform in Bulacan last Thursday.
The platform eliminates handling cost of transporting cash from Baliwag
to Pulilan, and it reduces the risk of theft or robbery while payroll is
in-transit in case of field-based employees.
It will result in no average daily balances, no need for vault,
enclosure or security personnel to secure cash, simplified requirements
for opening accounts, and increased access points through ATMs and
neighborhood partner outlets.
For the residents of Pulilan, they do not have to physically go to the
payment centers.
Pulilan Mayor Vicente Esguerra said that some of their residents spend
more than P100 on transportation just to pay their monthly bills. "That
will be eliminated with the mobile payment platform," Esguerra added.
Meanwhile, USAID Philippines Deputy Mission director Reed Aeschliman
said that the agency readily issued a grant worth $1.99 million to get
the project started.
"Pulilan is the first (LGU) in the country to use mobile (banking
technology) for salary and bills payment," Aeschliman said. "In India,
some $18 billion was saved by plugging leakages in salary payments using
mobile payments."
The grant was extended to the Pulilan project as an area, which had a
critical mass in terms of local population, and the presence of large
and small-scale businesses.
Pulilan plays host to 85 micro, small and medium enterprises (MSMEs) and
large enterprises, employing over 6,700. There are more than 20
cooperatives also operating in the area.
Of the total number of businesses, 27 are major manufacturing
businesses, which includes Purina Philippines Inc., Nestle Philippines
Inc, Rebtrade Intl. Corp., Feedmix Specialists, Foster Foods Inc.,
Fisherfarms Inc., Tyson Agro-Ventures, Jockers Food Industry and TJN
Pasalubong Victory Industrial Corp.
Meanwhile, Pulilan government employees and residents can get started
with just P100 initial opening account, of which P50 is the initial cash
in and the balance P50 is for the automated teller machine (ATM) card.
Bank official said that with the mobile money account, the facility
provides several financial services from savings, sending and receiving
money domestically, buying airtime load with rebates, buying
micro-insurance, paying bills from utilities, regular insurance, school
tuition and fees, and some government fees, and cashing in and out
through partner outlets within the community.
BanKO is also working on giving its accountholders access to credit, and
purchase goods using their ATM cards.
Tan said that BanKO would soon be introducing international remittance
services for families with overseas relatives, and domestic money
transfer banking services for all of its existing 380,000 clients.
--
-----------------------------------------------------------
CARLOS ANI - DEVJOBS INFORMATION SERVICE
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Send private messages to anicarlos@facebook.com
Skype name: carlosaniph
----------------------------------------------------------
By Ted P. Torres (The Philippine Star) | Updated August 20, 2013 - 12:00am
And with the help of a technical assistant (TA) grant worth $1.99
million from the United States Agency for International Development
(USAID), the project will simplify payroll distribution for the 300
employees of the local government of Pulilan, Bulacan.
And the cost of paying the water bills for the 10,000 Pulilan households
will fall dramatically, since the residents can use their mobile phones
instead of having to travel to the payment centers.
BanKO is the country's only thrift bank driven by mobile banking
technology. It is a joint undertaking between the Bank of the Philippine
Islands (BPI), Globe Telecommunications (Globe) and Ayala Corp.
BanKO president Teresita B. Tan said that the platform also allows
Pulilan government employees to open a savings account with an interest
rate of three percent, or a one-percent interest rate with free life
insurance.
"It is financial empowerment through mobile technology that will result
in savings for the LGU and the thousands of households using the local
water district," Tan said during the formal launching and activation of
the mobile banking platform in Bulacan last Thursday.
The platform eliminates handling cost of transporting cash from Baliwag
to Pulilan, and it reduces the risk of theft or robbery while payroll is
in-transit in case of field-based employees.
It will result in no average daily balances, no need for vault,
enclosure or security personnel to secure cash, simplified requirements
for opening accounts, and increased access points through ATMs and
neighborhood partner outlets.
For the residents of Pulilan, they do not have to physically go to the
payment centers.
Pulilan Mayor Vicente Esguerra said that some of their residents spend
more than P100 on transportation just to pay their monthly bills. "That
will be eliminated with the mobile payment platform," Esguerra added.
Meanwhile, USAID Philippines Deputy Mission director Reed Aeschliman
said that the agency readily issued a grant worth $1.99 million to get
the project started.
"Pulilan is the first (LGU) in the country to use mobile (banking
technology) for salary and bills payment," Aeschliman said. "In India,
some $18 billion was saved by plugging leakages in salary payments using
mobile payments."
The grant was extended to the Pulilan project as an area, which had a
critical mass in terms of local population, and the presence of large
and small-scale businesses.
Pulilan plays host to 85 micro, small and medium enterprises (MSMEs) and
large enterprises, employing over 6,700. There are more than 20
cooperatives also operating in the area.
Of the total number of businesses, 27 are major manufacturing
businesses, which includes Purina Philippines Inc., Nestle Philippines
Inc, Rebtrade Intl. Corp., Feedmix Specialists, Foster Foods Inc.,
Fisherfarms Inc., Tyson Agro-Ventures, Jockers Food Industry and TJN
Pasalubong Victory Industrial Corp.
Meanwhile, Pulilan government employees and residents can get started
with just P100 initial opening account, of which P50 is the initial cash
in and the balance P50 is for the automated teller machine (ATM) card.
Bank official said that with the mobile money account, the facility
provides several financial services from savings, sending and receiving
money domestically, buying airtime load with rebates, buying
micro-insurance, paying bills from utilities, regular insurance, school
tuition and fees, and some government fees, and cashing in and out
through partner outlets within the community.
BanKO is also working on giving its accountholders access to credit, and
purchase goods using their ATM cards.
Tan said that BanKO would soon be introducing international remittance
services for families with overseas relatives, and domestic money
transfer banking services for all of its existing 380,000 clients.
--
-----------------------------------------------------------
CARLOS ANI - DEVJOBS INFORMATION SERVICE
# 6 E. Javier Street, JubileeVille Subd, Masaya, Bay, Laguna 4033
Philippines
Emails: carlosani@gmail.com
Cellphone Numbers: +63908-1737072 (Smart)
+63926-4644235 (Globe)
+63933-4298481 (Sun)
My Websites:
CARLOSANI.COM - http://www.carlosani.com
DEVJOBS - http://www.devjobsmail.com
PHILDEVFINANCE - http://phildevfinance.blogspot.com
Family website - http://www.anifamily.net
FACEBOOK - HTTP://WWW.facebook/anicarlos
Send private messages to anicarlos@facebook.com
Skype name: carlosaniph
----------------------------------------------------------
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