Intellect Digital Core(IDC) 19.1, which is Chennai-based Intellect Design Arena’s digital core solution has been selected by Philippines Business Bank(PBB), to power its digital transformation. This solution will allow digital transformation to be the bank of choice in the segment of SME.
According to a recent study from the Department of Trade and Industry, 99.6% of the total registered enterprises are accounted for SMEs in Philippines. It is believed by the PBB that the segment is a huge source of economic activity including manufacturing, distribution services and, trade, hence contributing to local development. As most financial institutions are focused on large corporations, the segment remains underserved. According to an Intellect Design Press, PBB concentrates on expanding its branch network across industrial and commercial centres of the country to become the preferred bank in the segment.
Intellect Digital Core 19.1 offers PBB the advantages to establish by offering differentiated and unique products and solutions. This solution will empower the bank in becoming an integral part of its customers across corporate, and SMEs, by being an instigator for cost-effective delivery of all types of term durations, the release said.