RBAP, MABS start software for rural banks

Cagayan de Oro City – The Microenterprise Access to Banking Services (MABS) unit of the Rural Bankers Association of the Philippines (RBAP), and a team of software engineers, has released a new, modifiable, and user-friendly banking software called Rural Banker 2000 (RB2000).

"The introduction of the RB2000 software to the rural banking system represents a quantum leap to the IT age," said concurrent RBAP president Nicolas Lim said RBAP incoming president Jerry Coloma described RB2000 as a "state of the art software program that should professionalize the rural banking system."

The software is designed to meet the needs of small, medium and large rural banks. The system consists of Basic Banking Modules (deposit management module, loans management module, and general ledger module) as well as Banking Support Modules (financial product design module, cash dispenser and ATM interface module, charges, fees and taxes module, and general ledger interface module).

RBAP will provide the RB2000 software at no cost to rural banks and other financial institutions. The receiving institutions will have to shoulder costs associated with installation of the software.

RB2000 runs on MS Windows environment and can be used by rural banks operating with a single computer, or with multiple users within the branch, or even with several branches connected to a wide-area ATM network. The system enables branches to perform transactions on-line, allows banks to rapidly introduce new and innovative savings and loan products, savings withdrawal and check cashing between branches, and permits banks to expand their operations by using Automated Teller Machines and cash dispensers.

It includes a comprehensive, system-wide audit trail that will track every transaction on the system complete with the date and time of the transaction and identification of the user.

Because the system permits banks to communicate via a telephone line, it enables branches instant access to information on a client from any counterpart branch. In addition, RB2000 conforms to Bangko Sentral ng Pilipinas (BSP) reporting requirements and can readily adjust to changes in the BSP requirements. Moreover, the system will facilitate electronic reporting to the BSP, thereby reducing paper work.The software was developed as part of the MABS program, implemented by the RBAP with oversight provided by the Mindanao Economic Development Council (MEDCo.) It is funded by the US Agency for International Development (USAID).

The RB2000 Software was designed by the Automated Systems and Equipment Corporation, a Manila-based software development firm, which had been contracted by RBAP to undertake the task.