On June 22, 2023, banking leaders, technology experts, and decision-makers converged at the Grand Hyatt, BGC for a momentous event — CIO Roundtable Humanized Banking: Building Brand Loyalty Through Security and Seamless Banking. This exclusive gathering aimed to drive humanized experience of digitalization in the banking industry. Throughout the event, industry experts, including Exist Software Labs, Inc., shared their insights and experiences, emphasizing the role of innovative technologies like AI, YugabyteDB, and embedded finance in delivering exceptional customer experiences.

Kick-off and Welcome Remarks:

Jonas Lim, the Vice President for Engineering of Exist, set the stage for the roundtable with his thought-provoking welcome remarks. He delved into the significance of digitalization in the banking sector, highlighting the potential for technological advancements to revolutionize customer experiences and drive operational efficiency.

Engaging Insights and Use Cases from Top Banks:

Representatives from leading banks in the Philippines took the stage, sharing their experiences, challenges, and success stories in adopting digital banking solutions. With a focus on security, infrastructure, AI, automation, and seamless customer experiences, these industry leaders highlighted the vital role that technology experts like Exist  play in enabling transformation.

Sessions and Concluding Insights:

The roundtable comprised four insightful sessions, each shedding light on different aspects of humanized banking. In each session, Exist Technology Directors Jejomar Dimayuga and Dennis De Vera and YugabyteDB Head of Sales, Dennis Sze, together with Jonas Lim, provided comprehensive summaries and key takeaways.

One session that stood out was Session 3, which revolved around enabling borderless digital customer engagements through data compliance. YugabyteDB, an open-source database, took center stage during this session, showcasing its capabilities in ensuring robust and scalable infrastructure to support seamless customer experiences and scalable databases. Dennis Sze’s expert explanations and insights further enriched the discussion.

The CIO Roundtable witnessed a distinguished gathering of banking leaders, with representatives from renowned institutions such as:

1. Robinsons Bank
2. PBCOM
3. CTBC
4. Philippine National Bank
5. BPI
6. Maya Philippines, Inc.
7. Standard Chartered Bank
8. UnionBank of the Philippines
9. CIMB Bank Philippines
10. FWD Philippines
11. Eastwest Bank
12. Metrobank
13. DICT

Looking Ahead:

The Humanized Banking CIO Roundtable served as a catalyst for accelerating digital transformation within the banking industry. By embracing cutting-edge technologies like embedded finance, AI, database modernization and many more digital banking solutions from Exist and Yugabyte, banks can become well-positioned to deliver personalized experiences, enhance security measures, and drive rational efficiency.

Exist Software Labs, Inc., as a leading digital banking solutions provider, remains committed to enabling the industry’s evolution towards humanized banking. Through its expertise in Mobile Internet Banking, Accounts Onboarding, Loans Management System, APIM, and Corporate Internet Banking, Exist empowers banks to navigate the ever-changing landscape while fostering long-term customer loyalty and satisfaction.

As the event concluded, the participants left with valuable insights and a renewed commitment to harnessing technology to deliver exceptional banking experiences. The Humanized Banking CIO Roundtable marked a significant milestone in the journey towards secure, seamless, and customer-centric banking, and the collaborative efforts of all involved promise a brighter future for the industry.

In today’s digital age, financial institutions are increasingly moving their services online. However, with this comes the risk of fraud and identity theft, which can have severe consequences for both the financial institution and the consumer. This is where eKYC, fraud prevention, and identity verification come into play.

The Partnership Between Exist Software Labs, Inc. and Jumio

Exist Software Labs, Inc., a leading Java developer in the Philippines, and Jumio, a leading provider of end-to-end identity proofing, risk assessment and compliance solutions, have partnered to create a secure and automated online onboarding process for bank consumers in the Philippines. This partnership will allow financial institutions in the Philippines to offer a streamlined and secure onboarding experience for their customers.

“We are thrilled to partner with Exist Software to provide a complete biometric identity verification solution that helps financial institutions in the Philippines create a seamless, secure and innovative onboarding experience.” said Frederic Ho, Jumio VP of APAC.

Jumio’s solutions use artificial intelligence, machine learning and biometrics to verify the identity of individuals quickly and accurately. This will help financial institutions in the Philippines to comply with Know Your Customer (KYC) regulations and prevent fraud. Exist Software Labs will provide consultancy and cutting-edge products and services to support the integration of Jumio’s solutions into existing banking systems.

How This Partnership Will Benefit Filipinos?

This partnership will benefit Filipinos by providing them with a more convenient and secure way to open and manage their bank accounts online. Since the pandemic, more and more people are turning to online banking services. This partnership will provide a way for Filipinos to access these services without compromising their personal information.

The automated onboarding process will also reduce the time it takes for customers to open a new account, making it more convenient for them. This will help increase financial inclusion in the Philippines, where many people still do not have access to traditional banking services.

“In Exist, we often use the tagline “There’s always a better way”. It’s specially exemplified by our partnership with Jumio.  Jumio’s technology solutions in the identity verification space together with Exist’s technology solution allow us to provide our BFS clients with a better and seamless onboarding experience that is both secure and innovative. We are excited and look forward to expanding this partnership further seeing how their technology can truly benefit the onboarding experience of the Philippine’s financial institutions.” said Jonas Lim, Exist VP of Engineering

Finally, this partnership will help prevent financial fraud, which is a significant problem in the Philippines. By implementing robust identity verification and fraud prevention measures, financial institutions can protect their customers from identity theft and other forms of fraud.

In conclusion, the partnership between Exist Software Labs and Jumio is an exciting development for the Philippines’ banking industry. By providing secure and automated onboarding processes, financial institutions can offer their customers a more convenient and secure way to access banking services online. This will help increase financial inclusion and prevent financial fraud, making it a win-win situation for everyone involved.