Commercial bank Philippines Veterans Bank (PVB) launched its new innovative and value-added service called VeteranTeller All-in-One ATM/ID Card that can be used to perform various banking transactions.
In a statement, PVB said that the launching of the multi-functional card is part of its business expansion plan for the remainder of the year 2013.
It said that the All-in-One ATM/ID Card is the first of its kind in the market and serves several functions—ATM card, debit card, company ID and employees’ time-in/time-out card working in conjunction with PVB’s proprietary timekeeping kiosks and bio-metric systems.
As an additional security function, the VeteranTeller All-in-One ATM/ID Card features a barcode that can be swiped at the timekeeping kiosk.
The VeteranTeller multi-functional card acts as a regular ATM card that can be used to perform various banking transactions like cash withdrawals, balance inquiries and bills payments via BancNet, Megalink and ExpressNet.
It also acts as a debit card that can be used to purchase goods or services from several retail establishments.
“This product has undergone several improvements since it was introduced. I would characterize it as a collaborative effort with our clients because we really went deep and tried to understand what they needed to make their operations more efficient. At PVB, we believe in growing with our clients. Their success is our success as well,” Miguel Villa-Real, PVB’s vice president for Corporate Communications, said.
First implemented in certain local government clients of the bank as a test market, PVB sees expanding the target market to include other local government units as well as government-owned and -controlled companies.
In the near future, the bank is looking into offering this specific product to cater to medium enterprise-sized clients as well.
“More and more clients in the private sector are availing of this product. Not only does it create efficiencies because of reduced costs in human resource and administrative work, but some of our early adaptor clients have said that the system also boosts productivity because of stricter monitoring and the reduction in ‘slack periods.’ All these benefits just by maintaining an account with PVB,” Villa-Real added.
Veterans Bank is a private medium-sized commercial bank owned by over 400,000 Filipino World War II veterans and their families.