Rural banking software launched

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 have released a new, modifiable and user-friendly banking software called "Rural Banker 2000" (RB2000).

The software was launched during the recently concluded 49th RBAP National Convention here, presided over by RBAP president Nicholas Lim, incoming president Jerry Coloma, US Agency for International Development (USAID) economic growth adviser Robert Barnes and MABS program manager John Owens.

"The introduction of the RB2000 software to the rural banking system represents a quantum leap into the information technology age," Lim said.

For his part, Coloma described the 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. It consists of Basic Banking Modules (deposit management, loans management, and general ledger) as well as Banking Support Modules (financial product design, cash dispenser and ATM interface, charges, fees and taxes, and general ledger interface).

The RBAP will provide the RB2000 software at no cost to rural banks and other financial institutions. The recipients will have to shoulder the installation cost.

The RB2000 runs on MS Windows environment and can be used by rural banks operating with a single computer or multiple computers within a branch, or with several branches connected to a wide-area ATM network.

The system enables branches to perform transactions online, allows banks to rapidly introduce new and innovative savings and loan products, savings withdrawal and check cashing among branches, and permits banks to expand their operations by using automated teller machines and cash dispensers.

The RB2000 includes a comprehensive, system-wide audit trail that will track every transaction in 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.

The RB2000 conforms to Bangko Sentral ng Pilipinas’ reporting requirements and can readily be adjusted to any changes. Moreover, the system will facilitate electronic reporting to the BSP, thus reducing paper work.

Over 60 rural banks throughout the country contributed to the design of the RB2000. Before its introduction, the software system was installed in a number of banks to test its applicability in a live operational banking environment.

The software was developed as part of the USAID-funded MABS Program implemented by the RBAP, with oversight provided by the Mindanao Economic Development Council (MEDCo).

The program aims to assist rural banks to develop the capability to profitably provide financial services to the country’s vast microenterprise sector.

The RB2000 was designed by Automated Systems and Equipment Corp., a Manila-based software development company.