Rural Banking Software Launched
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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 (or RB2000).
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In a ceremony during the 49th RBAP National Convention held in Cagayan de Oro City on April 18-19, 2002, current RBAP President Atty. Nicolas J. Lim, incoming RBAP President Jerry B. Coloma, USAID Economic Growth Advisor Robert F. Barnes, and John V. Owens, MABS Program Manager announced that development of the RB2000 software had been completed and the software was available for installation by Rural Banks and other financial institutions.
“The introduction of the RB2000 software to the rural banking system represents a quantum leap to the IT age,” said RBAP President Atty. Nicolas Lim in his remarks. RBAP President-Elect 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 (with Rural Banks having priority). 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.
RB2000 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.
Over 60 rural banks throughout Mindanao, the Visayas and Luzon regions contributed to the design of RB2000. Before its introduction to the market, the software system was installed in a number of banks to assess its applicability in a live operational banking environment.
The software was developed as part of the Microenterprise Access to Banking Services (MABS) Program. The MABS Program is being implemented by the Rural Bankers Association of the Philippines, with oversight provided by the Mindanao Economic Development Council (MEDCo). The Program is funded by the U.S. Agency for International Development (USAID). The Program is designed to assist Rural Banks in the Philippines to develop the capability to profitably provide financial services to the country's vast microenterprise sector.
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.
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