Pointwest Shares Latest in FinTech for BancNet Forum

Jig
August 29, 2017

Pointwest sponsored the talks during BancNet’s Third Quarter Technical Management Group Meeting on 25 July 2017 at the BDO Equitable Tower in Makati City. Pointwest has been a partner of BancNet for over ten years, and has helped the bank network with its systems.

Members of BancNet got a good look at some of the latest FinTech developments facing the banking industry and how they could effectively utilize them.

Around 80 people from BancNet and its members attended the event, including Daniel Yu, the Executive Vice President of Security Bank, and BancNet Chief Information and Technology Officer Cecill Irigo.

“This is an opportune time to give the movers and shakers of the banking industry some technological updates,” Ma. Cristina “Beng” Coronel, Pointwest’s President and CEO, said, “We hope to help you reimagine the future of the banking industry and help you in what to do in terms of the technology that has been disrupting you.”

Hyper-Personalization and Design Thinking for Banks

The first topic was on Design Thinking and a customer-centric approach to doing business. Sherwin Pelayo, head of Pointwest Labs, the company’s product development unit, talked about how it makes good business sense to put the concerns of the customer first, especially at a time when “hyper-personalization” is an important factor for people.

At one point in his talk, Pelayo said that users and customers are never wrong. If they are having difficulties with your product or service, that is not their fault. “Users don’t make errors,” Pelayo said. “There’s just bad design.”

Error Prevention and Automated Software Testing

Atty. Kim Deloria, one of Pointwest’s IT managers, gave the second talk that was about an automated and data-centric approach to software testing. He emphasized how properly-executed testing discovers defects early on; potentially giving any company that utilizes the technology a large amount of savings as defects become more expensive down the line.

As an example, Atty. Deloria told the audience how NASA’s Mars Climate Orbiter was lost due to a simple mistake: differences in the system of measurement being used by controllers on the ground and the software in the satellite. Because of a simple clerical error, USD$125 million was lost in a manner of seconds.

“Proper testing will allow you to discover problems early in the production cycle,” Atty. Deloria said, showing the audience a graph that shows how expensive mistakes are as you go along the production cycle of a service or product.

Pointwest President Beng Coronel talks about re-imagining the future of the banking industry through digital technology.

Also on hand to answer questions were Pointwest’s Chief Security Information Officer (CISO) Rene Canlas, and Chief Technical Officer (CTO) Veck Basinang. Managers from the company’s banking and retail divisions were also present to discuss with BancNet members their concerns and problems on a variety of industry issues from analytics to mobile banking.

With over a decade of experience in the IT-BPM industry and providing services to Fortune 100 companies, Pointwest strives to increase the awareness of the banking industry about opportunities it has in an increasingly digital world. The company leverages its long years of experience serving some of the leading banks in the country. Through solutions tailored to their needs, Pointwest’s digital offerings allow financial institutions to stay apace in this VUCA world.

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Founded in 2003 by pioneers of the Philippine Global Sourcing industry, Pointwest creates value for its list of satisfied clients — including top Fortune 100 and local companies — with world-class Digital IT and BPM services backed by international-standards methodologies and innovative practices.