For the first time since opening its doors over a century ago, Philippine National Bank (PNB) now allows new clients to open an account without physically visiting any branch, in line with the bank’s bid to ride on the digital banking boom.
This year, PNB is investing P3.2 billion for technology initiatives, 28-percent higher than the budget last year. Of this amount, 30 percent will go to digital payments and e-wallet initiatives.
Recently, the bank’s board also approved a plan to set up an all-digital bank separate from PNB as it seeks to join the mobile banking race.
“We are investing in technology and changing a lot of our processes at PNB. More and more customers are now de…
Keep on reading: Clients now allowed to open PNB accounts online