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2021 05 31 pbcom exist news 768x487 1
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PBCOM-Exist enriches years-long partnership; Bringing more banking tech upgrades
PBCOM-Exist enriches years-long partnership; Bringing more banking tech upgrades 768 487 Exist Software Labs

PBCOM’s Chief Operating Officer, John Howard Medina, had this to say:

“The team at EXIST has brought us several technology innovations over the last few years and we look forward to continuing to push the digital envelope with them.”

Philippine Bank of Communications has strengthened its partnership with Exist Software Labs, Inc. who has been a key technology consultant and implementation ally.  By this, alliance allows both parties to continue to co-develop the innovations needed for the bank’s digital channels.

This partnership began in 2016 with the creation of the omni-channel PBCOM Online Platform (POP) and in 2019 the PBCOMobile self-service banking app.

Exist’s VP for Engineering shared his excitement on flourishing the said partnership.

“The partnership between PBCOM and Exist is doing great. It is built on mutual trust and a common commitment to ensuring success to PBCOM’s digital roadmap. As a technology partner, we continuously aim to work closely with PBCOM to ensure that the most appropriate and practical technology options will always be available for PBCOM’s digital strategy.”

Here is the timeline that marks the milestones that Exist and PBCOM achieved throughout the years:

exist pbcom timeline 2

PBCOM tapped Exist to develop POP

In 2016, PBCOM decided to relaunch its electronic channels after years of remaining dormant despite introducing online banking as early as 2003. PBCom Online platform (POP) is a retail omnichannel digital banking service.

POP was launched to the public

POP is an omnichannel banking application that allows its users to perform secure banking transactions like the following:

• Viewing account balances
• Monitoring transaction history
• Downloading bank statements
• Transferring money
• Paying bills
• Sending money to third-party bank accounts

Internet and mobile versions of the app have the same look and feel, making it easier to understand and use.

It is within this year also that PBCOM subscribed to Exist Maintenance Service for POP. This agreement between the two is annually renewed.

Exist developed the OTP platform for POP

This was added to let POP have multi-factor authentication to improve its security and avoid unauthorized access. Exist also had several Change Orders with PBCOM in 2018 for the constant improvement of POP.

PBCOM partnered with Exist once again to develop PBCOMobile

In 2019, PBCOM decided to level up its digital channels by working an online onboarding and banking application called PBCOMobile. The application was launched within the same year as well. The mobile banking app is now accessible for new PBCOM customers who want to open an account online and perform banking transactions without ever having to visit a bank branch. PBCOM also subscribed to Exist Maintenance Service for POP OTP in the same year.

PBCOM and Exist are under a contract valid until 2025

Again, PBCOM subscribed to the Maintenance Service for PBCOMobile. Exist ceaselessly ensures that PBCOM’s applications are performing efficiently and error-free. Currently, the two’s contract has a 5-year lock-up, which actively demonstrates that they will work hand-in-hand for PBCOM’s applications and online technologies until 2025.

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