Finance


PSBank launches cash management platform




Posted on May 19, 2016


PHILIPPINE SAVINGS Bank (PSBank) recently introduced a cash management platform for small and medium enterprises (SMEs), enabling them to perform real-time banking transactions.

Philippine savings Bank has launched a cash management platform for small and medium enterprises. -- BW FILE PHOTO
The thrift arm of the Ty-led Metropolitan Bank & Trust Co. (Metrobank) said it is introducing the Business Online Buddy (BOB), a cash management solution especially designed for SMEs to perform banking transactions in real time.

“PSBank is empowering businesses with BOB especially designed for SMEs to perform real-time banking transactions such as cash flow management, fund transfers among others, anytime and anywhere,” the listed bank said in a statement.

“With BOB, SMEs can manage their cash flows more efficiently. They can pay suppliers and settle utility bills, transfer funds to own or third party accounts, and sweep transactions from satellite accounts to a mother account,”it added.

BOB will also allow SMEs will to closely monitor their accounts because the platform can show a history of transactions performed in all enrolled accounts in the facility and can assist in reordering checkbooks.

“PSBank recognizes the need for business owners to find efficient ways of handling their financial transactions while keeping up with the times and when they have to be on-the-go. With BOB, we want to enable our customers to manage and, more importantly, expand their businesses without being limited by the challenges present when dealing with banking transactions,” PSBank Senior Vice President and Head of Marketing and Customer Experience Group Emmanuel A. Tuazon was quoted as saying.

The listed thrift lender said there are more services that BOB can offer and there is no deposit average daily balance requirement to avail of the facility, making it the ideal business partner to achieve optimal business growth. -- ICCD