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Philippines Business Bank (PBB) has selected Intellect Digital Core (IDC ) 19.1, a digital core solution of the Chennai-based Intellect Design Arena, to power its digital transformation. The solution will enable digital transformation to be the bank of choice in the SME segment.
A recent study from the Department of Trade and Industry stated that SMEs account for 99.6 per cent of total registered enterprises in Philippines. PBB believes that the segment is a major source of economic dynamism which provides trade, manufacturing and outsourcing services, thereby contributing to local development. However, the segment also seems underserved, with most financial institutions focused on large corporations. To be the preferred bank in the segment, PBB focuses on increasing its branch network across commercial and industrial centres of the country, says a press release from Intellect Design.
IDC 19.1 offers PBB the levers to innovate by offering unique, differentiated lending products and solutions. The solution will empower the bank to become integral to its customers across corporate, and SMEs, by being a catalyst for efficient delivery of short, medium and long-term credit facilities, the release said.
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