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Digitization

The document discusses strategies for digitizing PHCCI-MPC Tacloban cooperative including moving to cloud computing to improve customer experience, reduce costs, and increase scalability. It also recommends adding online payment platforms and launching a mobile app to allow members to access services remotely. A fourth strategy discusses implementing SMS banking to provide services to members in rural areas with unstable internet. The strategies aim to modernize the cooperative's technology to keep up with customer demands and the changing economy while remaining focused on serving members' needs.

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Jach Salinas
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© © All Rights Reserved
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35 views

Digitization

The document discusses strategies for digitizing PHCCI-MPC Tacloban cooperative including moving to cloud computing to improve customer experience, reduce costs, and increase scalability. It also recommends adding online payment platforms and launching a mobile app to allow members to access services remotely. A fourth strategy discusses implementing SMS banking to provide services to members in rural areas with unstable internet. The strategies aim to modernize the cooperative's technology to keep up with customer demands and the changing economy while remaining focused on serving members' needs.

Uploaded by

Jach Salinas
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Slide 1 | Significance of Digitization for PHCCI-MPC Tacloban

DIGITIZE OR DIE
Now more than ever, financial institutions need to deploy modern technology to deliver improved customer
experiences in real time and at a lower cost. For many cooperatives, this crucial need is difficult to achieve, as it
requires both the collection and processing of multiple data sources and the modernization of outdated operating
models and systems. One thing is clear – until they modernize their information technology, cooperatives will be
unable to keep pace with the rapidly changing economy.

Slide 2 | Strategy 1: Cloud Computing


THE CLOUD IS THE CATALYST FOR DIGITAL TRANSFORMATION
Cloud computing is a type of on-demand service that provides access to shared resources, applications, or storage
over the Internet. It enables financial institutions to store and process data in remote servers instead of local systems.
1. Improved customer experience: PHCCI-MPC Tacloban can provide a better customer experience by offering
anytime, anywhere access to financial services
2. Reduced costs: PHCCI-MPC Tacloban can save money by moving their applications and data to the cloud. The
pay-as-you-go pricing model of public clouds makes it more affordable for cooperatives to use these services.
3. Faster processing speeds: Cloud platforms are designed for fast performance and can handle large amounts of
data quickly and easily. This allows cooperatives to improve their transaction processing speeds and reduce latency
problems.
4. Greater scalability: Cloud platforms can scale up or down as needed, which gives financial institutions the flexibility
they need to best serve their customers.
5. Enhanced security: The public cloud is a more secure environment than most on-premises systems, and it offers
multiple layers of protection against data breaches and other attacks and also against disasters through quicker data
recovery and restoration times. Banks must take all necessary precautions to ensure that client data is protected and
never lost.

Slide 3 | Strategy 2: Add Online Payment Centers


HOW DO WE FUTUREPROOF PHCCI-MPC TACLOBAN? BY PARTNERING WITH THE RIGHT PLATFORMS.
The current accredited payment centers of PHCCI-MPC Tacloban are offline platforms which still require members to
go outside the comfort of their homes, fall in line, and transact in person. Accrediting digital platforms such as GCash,
Maya, ShopeePay, and Lazada Wallet as payment centers will enable the coop members to make their deposits and
loan payments wherever they are and whenever they want to.
This strategy will be complemented by increasing social media awareness wherein assistive videos will be uploaded
in the official YouTube channel and informative publication materials will be posted in the official Facebook page of
the cooperative providing the members with a step-by-step process on how to deposit and pay using the online
platforms.

Slide 4 | Strategy 3: Launch Own Mobile App


Core Functions
1. View PHCCI-MPC Tacloban account balances – Now you can view your account balances in real-time.
2. View past transaction history of PHCCI-MPC Tacloban accounts – With TC mobile app there’s no need to
check your passbook to check your previous transactions
3. Application and Renewal loans – TC Mobile app grants you the power to renew your loan at the comfort of
your palms. Anytime anywhere
4. View re-payments against loan accounts – You have now the power to keep track of your repayments
against your loan accounts with TC Mobile.
5. Compute Loan Proceeds – You can now compute your loan proceeds with our handy Mobile app Loan
Calculator
6. Fund Transfer – Transfer funds to your PHCCI-MPC Tacloban accounts or other Bank Accounts
conveniently and securely
7. Bills Payment – Conveniently pay your electric bills, internet bills and other bills using PHCCI-MPC
Tacloban Mobile App
ENTERPRISE- GRADE SECURITY: A MUST-HAVE
Security Features
1. Screenshot Features for Transaction Receipts, Payslips’ Info & PRISC Details
2. Biometrics and Face ID authentication
3. Enterprise-grade encryption that protects your data from hackers.
Loyalty Program
1. Points Redemption Feature
2. Points Earning System through Registration and Fund Transfer

Slide 5 | Strategy 4: SMS Banking


While the two previous strategies appeal to the younger demographics of the members and cater to those who have
access to the Internet, many members of the cooperative live in rural areas wherein Internet connection can be
unstable and expensive. Some lack the technological capabilities that allow them to register and engage with online
platforms.
With the poor Internet infrastructure in our and country and the need to provide members with reliable information
quickly, making text messaging the perfect medium for communication.

Services offered:
ALLOWS MEMBERS TO MONITOR THEIR ACCOUNT ACTIVITY
Balance Inquiry – Know the balance of your bank accounts by choosing this function.
SMS-BASED INQUIRY

Facility SMS Message Format Information


Balance of the account Send SBAL (Space) (15-digit After sending this SMS, balance of the
Account No.) To 9223810000 account will be informed.
Example - SBAL 043200100000124
Last five transactions of Send keyword as LST5 (Space) (15- Last five transactions conducted in the
account digit Account No.) to 9223810000. account will be informed by SMS.
Example – LST5 043200100000124

ALLOW CLIENTS TO TRANSFER MONEY AND PAY BILLS ANYTIME

Funds Transfer – Transfer money between your enrolled accounts.


Bills Payment – Pay your bills anytime with this functionality

Most common ways to use SMS for security includes text messaging for two-factor authentication, through issue of
one-time passwords.

SMS BANKING SIMPLIFIES MESSAGING


There are many transactional messages you need to send your clients during your daily processes, for example
when funds have been transferred, accounts have been finalized, rates have changed, loans have been approved or
new funded loans.
With SMS banking solutions you can quickly and easily notify consumers of account transactions, send payment
reminders (including reducing the late payments by sending reminders before payments fall due), send collections
messages to recover funds owing and allow customers to monitor their account activity. You can also use SMS to
send real-time alerts of fraudulent account activity to the account owners.

Unstructured Supplementary Services Delivery (USSD)


All you need is an ID card and a registered mobile phone number; it doesn’t matter which mobile phone network you
are on. You may register for the service by dialing *667# on your mobile phone USSD provides session-based
communication. Turnaround response times for interactive applications are shorter for USSD than SMS. In USSD,
the interaction is in the form of a continuous session as opposed to SMS. USSD is available on all handsets.
HOW TO ENQUIRE BALANCE ON COOP USING *667#
1. Dial *667# and call
2. Enter your Mcoopcash Pin (4 digits)
3. Reply with Option 1. Account enquiry
4. Then select option 1. Balance
5. Select account to query.
Your balance will be displayed.

PHCCI-MPC Tacloban, like many financial cooperatives, face many challenges in achieving digital transformation.
1. Staffing - Few FCs have invested in developing their human capital to provide their staff with the
competencies required for digitalization.
2. Budgets and costs - Many FCs find it difficult to navigate the economics behind their own digitalization
process. The direct and indirect costs that FCs face in their digitalization make their advancement pace
different compared to organizations such as commercial banks
3. Independence - Most FCs rarely engage in dynamic cooperation and exchanges with other financial
organizations and fintech companies, which hinders these institutions from grasping opportunities or
accessing digital services at more accessible costs.
4. Client base -

FC culture is people-centered, and its focus is on providing low-cost services to meet the needs of its members. In
this sense, they differ from other financial institutions, which often see digital transformation as an end to optimize
your own financial performance. In contrast, FC understand digitization as a means to meet members’ needs.

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