BancNet Inc., an electronic banking consortium, has strengthened its cybersecurity protocols in response to the growing reliance of the banking industry on technology to elevate operational efficiency, combat fraud, and enhance customer satisfaction.
In a statement, Fabian S. Dee, President of BancNet, emphasized the organization's unwavering focus on cybersecurity, highlighting that the consortium’s resilience stems from the united security efforts of all its partners.
“BancNet’s strength lies in the collective security of all its partners, from large financial institutions to smaller providers. We have diligently fortified our defenses to safeguard against potential threats, ensuring robust protection across our network,” Dee said.
For his part, Nestor V. Tan, Bancnet chairman said that the organization's standout achievements this year have been its resilience, reliability, and credibility.
“For us, success in payments is not about accolades but about maintaining impeccable operational hygiene,” Tan said.
Tan also added that “our progress, however, must be synchronized with our diverse membership, ensuring that technological enhancements are accessible and beneficial to all.”
Recently, Tan, representing BDO Unibank, and Dee, representing Metropolitan Bank & Trust Co. (Metrobank), were re-elected to lead BancNet as Chairman of the Board and President, respectively.
In addition to Tan and Dee, the other elected members of the Board of Directors include Wilfredo E. Rodriguez from Asia United Bank (AUB), Paul Raymond A. Favila from Citibank, Henry Bremridge from HSBC, Hermogenes Esperon Jr. from Philtrust Bank, and Cecilio Paul D. San Pedro from Sterling Bank.
Among the re-elected members of the 15-person BancNet board are Alexander G. Seminiano from BPI, Manuel C. Tagaza from Chinabank, Salvador R. Serrano from East West Bank, Leila C. Martin from Land Bank, Florido P. Casuela from PNB, Reginaldo B. Cariaso from RCBC, John Cary L. Ong from Security Bank, and Edwin R. Bautista from Union Bank, who also retained his position as Treasurer for another term.
Moreover, the BancNet Board appointed various company officers, including Elmarie S. Reyes as CEO, Agnes H. Maranan as Corporate Secretary, Arnel G. Lim as Chief Audit Executive, Jennie F. Lansang as Chief Information Officer, Jonalyn V. Villasin as Financial Controller, Mabelyn M. Tagasa as Head of Information Technology, Maricelle P. Austria as Head of Human Resources and Administration, Myra A. Privado as Head of Program and Quality Management, Roel Dennis S. Tan as Chief Risk and Compliance Officer, and Roseanne T. Tan as Head of Business and Relationship Management.
At end-2023, BancNet boasted a total of 113 members operating a network of 26,482 ATMs and 545,489 point-of-sale terminals, catering to more than one million active debit cards.