China Bank rolls out e-banking platform

Coinciding with the year-long celebration of its 85th anniversary, China Banking Corp. (China Bank) formally launched its e-banking platform, China Bank Online, developed by leading Indian software solutions firm Infosys Technologies.

The system enables China Bank account holders to access their accounts and do banking transactions via the Internet and mobile phone by enrolling at the bank’s website (www.chinabank.ph) or at their respective branches of account.

"China Bank is moving with the changing times. With the launch of China Bank Online, we are making sure that we are at the forefront of new banking technologies and services," said Ricardo Chua, China Bank executive vice president and chief operating officer.

The electronic services on China Bank Online are available in three modules: retail, corporate, and cash management.

Retail covers personal accounts and includes basic banking services like balance inquiry, fund transfers, bill payments, and other banking transactions, as well as purchase of various prepaid cards.

Corporate banking services, meanwhile, enables file uploads, account sweeping and pooling as well as reports generation.

Business owners can also course their BIR and SSS payments through the China Bank website.

The system is capable of handling multiple authorization levels that can simulate a company’s existing approval procedures.

In fund transfers, for example, the system will recognize how many or who in the company needs to authorize a particular transaction.

The cash management services module, scheduled for rollout in the first quarter of 2006, includes electronics services like collections, post-dated check warehousing, managers/business check printing, and liquidity management.