Banks should be at the forefront of technology, especially in this internet age, delivering real-time data about their customers and their accounts.
The Philippine banks may not be as nimble in adapting the latest technologies in rendering their services as that of banks from other countries, but at least we know that the effort is there in trying to catch up.
Disclaimer: I currently own Metrobank, BPI and Security Bank accounts, although I used to own PNB, BDO, EastWest and even Equitable-PCI (before their merger with BDO) bank accounts.
From my experience, the first to offer the most reliable (in terms of security, uptime, utility, and convenience) internet banking service was Metrobank. I have to admit, though, that BPI was able to catch up and in my own opinion (sans the downtimes that recently plagued their online banking) offer the best internet banking experience, especially when coupled with the convenience in managing your investment accounts via BPI Express Online.
When it comes to mobile banking, though, I think it was BPI to be the first to implement it thoroughly. Currently, it even enables its account holders subscribe to additional and redeem units or shares for their UITF and Mutual Funds transactions.
But when it came to the implementation of the iPhone’s Touch ID, it was Security Bank who delivered it first. It actually made mobile banking more convenient, logging in through the app and doing your usual transactions with just a push of a button. The app can recognize your fingerprint, and no more need to enter your login credentials.
Recently, BPI also introduced their own implementation of the Touch ID. Their way, however, is limited to just viewing your portfolio of accounts. You cannot do the other usual transactions until you’re logged into the app using your login credentials.
Nevertheless, that’s still a move forward than nothing at all.
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