At Wednesday’s BDO-SMIC media gathering, Antonio Miguel A. Mercado, vice president for corporate communications of SM Investments Corp. quipped “now I’ll do the old fashioned way” as he handed out his calling card while I shared my info through QR code.
No, Virginia, ‘am no tech-savvy, believed me. Most of my friends and even the Boss know this. More often, I have no patience in going through the gamut of learning the ropes of this dynamic, ever changing technology. Thanks to Pangga and Stella, both would usually sigh in exasperation, but are persevering enough to nurture and tutor me like opening up IG, FB, X (Twitter) account and of recently having my very own QR code.
Maximizing the powers of technology for advancement, leveraging on AI (artificial intelligence) to enhance efficiency, security and customer service/experience not to mention saving on operational costs is one of the developing issues that perks my learning curiosity.
AI 101: Apparently, this technology has been around 71 years ago. Arthur Samuel, computer scientist, developed a program to play checkers, which is the first to ever learn the game independently.
Three years later, John McCarty held a workshop-conference on artificial intelligence, where the word AI was first used. AnalytixLabs described Mr. John as the father of AI and the pioneer in the fields of AI. Fast forward to now, AI is defined as the simulation of human intelligence processes by machines, specifically computer systems.
While there's an on-going debate regarding the use of technology and AI’s swift advancement, for Lucose Eralil, Security Bank executive vice president and head for enterprise technology and operations, technology is the business of tomorrow.
Mr. Lucose, though, observed that Vietnam, Cambodia and the Philippines are in the “last frontier” of technology among the economies in Southeast Asia, simply because non-technology and traditional banking are working here.
It’s high time for the banking industry to take advantage of technology, which is at its most exciting phase, otherwise the country would lag behind its regional peers.
Security Bank has taken up this innovation, putting-up one foundational platform to give its customer base the “modularity,” handling separate bank services faster, secure and ease. This recently was introduced in all its 320 branches nationwide with on time internal capability. The customer experience is quick.
The financial architectural innovation is expected to further strengthen, leapfrog the bank’ position in the industry as it reduced workload, creating efficiency while at the same time serving as a catalyst for the bank’s workforce to upscale their skills and talents.
Wait, there’s more. While he admits the innovation will give Security Bank, among the top ten players in the industry, the advantage, it’s merely the start. Up next is a new channel architectural app on mobile allowing clients to book an appointment for a transaction.
“The beauty of moving towards new technologies allows you to have better integration,” explains Mr. Lucose as the bank continues to work on additional innovation to change the landscape of services for better, sometime in 2025.
In another banking dimension, this I heard from the community that Makati Business Club executive Director Francisco “Coco” Alcuaz will soon be joining the government service.
He has been singled-out/stand-out among the external candidates considering by the Bangko Sentral ng Pilipinas to steer its Corporate Affairs (CORAO) department following the departure of Antonio Lambino of the “Anak ng Pasig” Smokey Mountain fame.
Already, this former colleague – he was the head of business news at ABS-CBN News Channel and Bloomberg News Manila Bureau Chief – made overtures of his impending transfer to the other side of the industry as BSP Managing Director for CORAO.
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