Baorea-- Against All Odds: Bancnet

Bancnet is considered to be the first and is now, the largest Automated Teller Machine (ATM) Consortium in the Philippines. It is the first multi-bank, multi-channel electronic payment network in the country. Bancnet enables its customers to transact, not only at any ATM anywhere, anytime, but also through Point-Of-Sale (P.O.S.), the Internet or through the use of mobile phones. Aside from the traditional cash withdrawal service at the ATM, Bancnet also provides a wide range of services through different channels, such as balance inquiry, checkbook re-order, statement request, interbank fund transfer, payment of bills, prepaid phone and Internet reloading, payment of purchases by direct debit to account, and remittance of taxes, Philheatlh and Social Security System contribution and loan repayments. Through interconnection with other ATM consortia in the country (Expressnet & Megalink) and International ATM & P.O.S. networks (Diners Club, Discover Card, JCB, MasterCard, Union Pay and VISA), Bancnet provides cardholders not only the widest nationwide access to their accounts but worldwide convenience as well.

During our visit last April 5, 2013 we were fortunate enough to listen to Bancnet leaders. The company has Core Values abbreviated as ExCI^2Te which stands for Excellence, Concern for the Individual, Integrity, Innovation and Teamwork. Having these core values embedded to your employees will definitely give you more productivity and competitive advantage. During the talk, I was very amazed on how Bancnet evolved or as they say, Innovation never ends. From an ATM consortium they partnered with multi-national companies, acquired IT infrastructures, provided leading technologies to various organizations and supported different sectors of our government. Their network truly expanded throughout the years. Despite this, if we really look at it the company is not that huge. When the speaker asked us to guess their number of employees all of us expected it to be in hundreds or even thousands. We were very surprised when they said they were only 55. I guess numbers are not the only basis for success. What is really important is the quality of service your company gives to the customers.