BDO Unibank Inc. is focusing its transaction banking strategy on faster payments, improved cash visibility and stronger controls as businesses increasingly turn to technology to manage their finances, a senior executive said.
Carlo Nazareno, head of BDO’s Cash Management Services, said banks must ensure that technological innovation translates into practical benefits for corporate clients as their needs evolve.
“The future of transaction banking is about delivering better outcomes for clients,” Nazareno said during Citi’s Winning the Future: Leading the Evolution of Transaction Banking forum in Singapore.
Nazareno said businesses were looking for greater visibility over their cash positions, faster collections, seamless payments and better controls to help them make financial decisions.
He said technology must be backed by reliability and consistent execution as banks expand their digital transaction services.
“As client needs continue to evolve, BDO remains committed to combining deep local market expertise, scale, and technology to help businesses operate more efficiently, manage risk more effectively, and grow with confidence,” Nazareno said.
As of end-June, data compiled by Bankero showed BDO remained the country’s biggest bank in terms of assets, deposits and loans.
