By the start of the second semester, the bank will open a 1,500 to 2,000-seat call center in Ortigas as part of an aggressive direct selling thrust in the country.
At present, SCBP outsources its direct selling activities.
"The benefit is that we will be able to train them and get the best of them. In fact, the Philippines is an ideal area as a training center," Eugene Ellis, SCBP chief executive, said yesterday.
Ellis said they will replace all their old ATMs for models that "have more services to offer than what the market or regulators is prepared to use. That includes dispensing of cash."
The bank will also activate its Internet banking system before the end of the year.
SCBP has also forged alliances with other financial and non-financial institutions. It plans to introduce lending and consulting facilities to the higher bracket of Philippine small and medium enterprises (SME). "We are looking at SMEs with annual sales of at least $25 million (roughly P1.5 to P2 billion)," Ellis said.
But SCBP will not enter the SME market until the passage into law of the credit information bureau bill.
The banking sector has been successful in reducing its bad debts, thus freeing more credit into the economy. However, a functioning credit information bureau will ensure protection for the lending entities like banks, and the good borrowers while isolating the bad borrowers.
"The data bank of the credit information bureau will allow good credit SMEs to further access credit without stiffer requirements or interest rates, while isolating bad borrowers," Ellis said.
Lower cost for information gathering by banks and other non-bank institutions will also lower the cost of borrowing for SMEs as well as other sectors of banking society.