RACONTEURPH

PSBank empowers customers with array of digital services

Amid the growing customer preference for mobile and online transactions, PSBank is stepping up its banking innovations on the digital front, comprising of its wide array of products and services available 24 hours a day, seven days a week.

“PSBank has been steadily creating a digital ecosystem for our banking services with the aim of making things simple for our customers and enhancing their banking experience with us,” said PSBank Senior Vice President Noel Tuazon, Head of Marketing Group.

Metrobank Group's leading thrift bank pioneered Cardless Withdrawal which allows cash withdrawal from any PSBank automated teller machine (ATM) without using an ATM card. Launched in October 2017, the service has been gaining traction in terms of customer usage. According to PSBank, average daily transaction jumped 23% at the end of the first quarter versus its equivalent at the end of last year.

Cardless Withdrawal is easy to use. Clients must simply log on to their PSBank account on the Internet or through the mobile app, choose Cardless Withdrawal and the account where the amount will be withdrawn, type the nominated 4-digit PIN and the amount they wish to withdraw.

For security, PSBank's mobile app also introduced ATM Lock which enables clients to lock their ATM card, preventing unauthorized use in any ATM, point of sale, or online transactions that require the card number. ATM Lock can be activated by using PSBank's online portal and mobile application.

Other pioneering features of the PSBank mobile app are One Touch ID and PayMe. One Touch ID makes use of fingerprint recognition technology that allows customers to instantly access PSBank's mobile app without keying in a password. Meahwile, Payme enables customers to request money and payments from other users in a jiffy.

PSBank has also enabled its customers to apply for a car or personal load, minus the hassle of doing to much paperwork. PSBank Online Application (POLA) speeds up approval process, granting a credit decision within 24 hours for Auto Load and three days for Flexi Personal Loan via SMS.

Customers who are into investing may leverage on PSBank's e-Trust online investment facility that allows users to apply and manage their PSBank Money Market Fund online. The facility allows clients to subscribe, redeem funds partially or fully, update risk profile, or simply view their portfolio online anytime and anywhere.

PSBank is also empowering small and medium enterprises (SMEs) through Business Online Buddy (BOB), PSBank's facility that allows clients to manage accounts, do fund transfers, make disbursements, effect collections, and even cut checks real-time in a safe, secure, and convenient online ecosystem.

Tuazon said the goal of improving customer experience also led the bank to roll out last year a new deposit core banking system called Flexcube to further improve its capability to deliver best in-class branch services, as well as allow for greater flexibility in product and services offerings.