BancNet Inc., an electronic banking consortium, has reinforced its cybersecurity protocols in response to the banking industry’s increasing reliance on technology to enhance operational efficiency, combat fraud, and improve customer satisfaction.
Fabian S. Dee, President of BancNet, emphasised the organisation’s unwavering focus on cybersecurity, stating 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 defences to safeguard against potential threats, ensuring robust protection across our network,”
Fabian said.
BancNet Chairman Nestor V. Tan noted that the organisation’s standout achievements this year include its resilience, reliability, and credibility.
“For us, success in payments is not about accolades but about maintaining impeccable operational hygiene. Our progress, however, must be synchronised with our diverse membership, ensuring that technological enhancements are accessible and beneficial to all,”
he added.
Recently, Nestor, representing BDO Unibank, and Fabian, representing Metropolitan Bank & Trust Co. (Metrobank), were re-elected to lead BancNet as Chairman of the Board and President, respectively. Edwin R. Bautista from UnionBank retained his position as Treasurer for another term, along with several other re-elected members of the 15-person BancNet board.
The BancNet Board also 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, and Roel Dennis S. Tan as Chief Risk and Compliance Officer, among others.
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.
Featured image credit: Edited from Freepik
