Philippine Veterans Bank, Globe Business celebrate decade-long partnership for nation-building
The Philippine Veterans Bank (PVB) was established in 1963, borne out of the country’s public legislators’ desire to invest in funds that will serve the needs of World War II veterans and help secure their future financially. In 1992, with authorization from the Central Bank of the Philippines, it became a private commercial bank owned by elderly war heroes, beginning operations with the inauguration of its main branch in Makati City.
Four decades later, PVB has developed into a universal bank with a total of P2.54 billion in stock and cash dividends. The shareholding of each veteran also grew by 2,850 percent, which is the highest so far in the industry. What truly separates the bank from other private for-profit organizations, however, is its adherence to its mandate: to provide immediate and adequate care, benefits, and other forms of assistance to war veterans and their families. Each year, 20 percent of PVB’s profit is given to its Board of Trustees for the veterans, which makes sustainable profitability and growth as imperatives.
As a business and financial institution thriving in an electronic and digital business environment, connectivity has become integral to PVB’s successful operations. In 2002, it started to scout for a more cost-effective and reliable service that would replace Frame Relay technology, a packet-switching protocol designed to transmit data on a wide- area network, which was the standard at the time. Already aware of its ICT solutions, then-newly installed PVB first vice president and head of IT operations Edgardo Dajao spearheaded a partnership with the corporate ICT arm of Globe Telecom. With their collaboration spanning over a decade, PVB has been able to fulfill its mandate and cope with the everchanging landscape of modern banking.
reliaBle, coSt-effective
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In fact, PVB was one of the early adaptors of the Globe Business internet protocolvirtual private network (IP-VPN) service. It also holds the distinction of being the first to implement it on a bank-wide basis to securely access and share data across all its networks. As anticipated, the bank’s expenditures for connectivity went down and its services became more dependable. “Our early adaptation of IPVPN from Frame Relay substantially reduced our monthly operating expense for data lines,” shares Dajao.
Since then, Globe Business has allowed PVB to serve its clients more efficiently, and even attract more of them. “The capability of
Globe Business to deliver their services in a timely manner resulted in better opportunities to attract depositors and account holders,” he continues.
PVB also employs wired and wireless DSL by Globe Business for its ATMs and Integrated Service Digital Network (ISDN). The bank is also a user of the TXTConnect service, 1-800 tollfree line and various mobile lines. According to Dajao, being with Globe Business makes running their bank convenient: “We are able to reduce administrative time spent in making follow- ups in proposals and resolution of technical issues,” he says. Aside from that, the delivery period of services is shorter, and they are assured of competitive pricing. an ict partner that liStenS
Since PVB acquired Globe Business’ services ten years ago, the two companies have maintained their collaboration. Dajao attributes this longevity to its ICT partner’s distinctive way of communicating with its clients and providing support.
What PVB appreciates most is its ICT partner’s openness in resolving issues and concerns, which, according to Dajao, are inevitable in any business relationship. “Globe
Business’ service transparency helps us to be open and candid to our clients as well,” he says, emphasizing that it is the foundation of a wonderful customer experience.
“In my opinion, the solutions offered by Globe and other telcos are more or less the same,” he explains. “What sets Globe Business apart is its transparency in providing updates
What sets Globe Business apart is its transparency in providing updates and support to any issue that arises. They give us timely feedback that minimizes the need for us to do timeconsuming follow-ups. Most importantly, there is that feeling that in issue resolution, we are always given top priority.
and support to any issue that arises. They give us timely feedback, minimizing the need for us to do time-consuming follow-ups. Most importantly, there is that feeling that whenever we report incidents that need resolution, we are given top priority.”
Dajao adds that Globe Business is consistent in promptly alerting them of any improvement in their service delivery, new offerings, and always solicits for and gives feedback. “This consistent, open communication process makes the partnership more vibrant,” he continues.
He further notes that the team-up also works because of Globe Business’ willingness to listen and be open for constructive comments, with the end-objective of making improvements in service delivery. “There is the feeling that you know the people that you are dealing with in all levels. Also the opportunity is given for someone like me to be heard of for service improvement, as well as for future services that may be mutually beneficial,” he says, noting that, “this is the reason our Globe Business- powered facilities have increased over the years.”
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Dajao is not one to hide his admiration for Globe
Business; he even believes that the company is capable of delivering bigger ICT solutions for them. In the meantime, as PVB looks well ahead into the future, it continues to anticipate that its telco-ICT partner will be with them in every step of the way, particularly in serving the nation’s esteemed war veterans and their families.
“As the bank grows, we seek better products and services for us to cope with the ever-demanding business requirements and be more ICT-competitive. We believe
Globe Business is determined to raise the bar when it comes to service quality and in coming out with new services that are not only appropriate, but gamechanging as well,” he claims. Meanwhile, Globe Business Senior Vice President for Enterprise Group Nikko Acosta says, “We are honored to partner with local financial institutions such as the Philippine Veterans Bank as we help elevate their operations a notch higher through ICT capabilities. As the bank heightens its level of servicing, our technological team-up also allows Globe Business to contribute to nationbuilding by going beyond business to further the lives of Filipinos with a technologically-adept bank such as the PVB.”
Sharing the same goals and values, especially in putting a premium on their customers, it is not surprising to see Globe and PVB playing huge roles not only in advancing the local banking and financial sectors, but also in the area of nation-building.