BAIPHIL Convention levels up
The Bankers Institute of the Philippines, Inc. (BAIPHIL) held its 29th National Convention recently. The convention, opened by Senate President Aquilino L. Pimentel III as the keynote speaker revolved around the theme “Leveraging on Capabilities and Synergies for Banking Excellence.” And BAIPHIL did just that and more as convention speakers talked about the following topics: Bank of the Future, Retail Banking Innovation, Digitalization and Mobile Banking, Cybercrime and Fraud as well as Information and Cybersecurity.
The President’s Hour featured a panel of three forward-thinking bank presidents in financial technology namely: Tony Moncupa of East West Banking Corp. (EastWest Bank), Edwin Bautista of Union Bank of the Philippines (UnionBank) and Joven Hernandez of PNB Saving Bank. BAIPHIL chose the three panelist-presidents who, individually and collectively, shared their experiences and “secrets” as they embarked on digitalization of banking transactions.
Tony, with a colorful background and a former activist, was proud of where EastWest Bank is now, branches and all, despite the threat of digitalization with the necessary cautionary stance. He also showered political savvy as he made mention of the National Retail Payment System now being crafted by the Bangko Sentral ng Pilipinas (BSP) and its impact in the industry moving forward.
Edwin, with his consumer background and Citibank experience, revealed his sense of history of banking operations particularly on payments and settlements. His practical approach to fintech encompasses the important aspects of the digital landscape, particularly mentioning people and training, whether one is a millennial or is about to retire. His quick responses showed the readiness to share what UnionBank is doing to be recognized as a retail banking innovator.
Joven, with his background on consumer and retail marketing, proceeded to calmly enumerate the main factors in FinTech: people, process and technology as he took pride in having millennials in his team. With PNB Savings just having introduced its mobile banking product, Joven knows whereof he speaks. Melit Araneta, Bank of Commerce consultant, and I really enjoyed moderating this session.
Of course, a BAIPHIL Convention is not complete without the presence of its biggest supporter in their task of training and educating bankers — the Bangko Sentral ng Pilipinas. Deputy Governor Diwa C. Guinigundo spoke on “Critical Economic Challenges Facing Policymakers around the Globe”. He presented a policy maker’s guide to the global economy with an intriguing introduction: “questions about questions” which proceeded to answer among others, questions about how the global economic environment stands today as well as the risks and challenges for 2017.