At long last, the Philippine National Bank (PNB) is finally allowing new customers to open accounts online.

This move will allow the century-old bank to ride the digital era.

PNB has allocated a Php3.2 billion budget to invest in technology initiatives. That’s 28% higher than last year’s budget. 30% of this budget will be poured into digital payments and e-wallet initiatives.

The bank also plans to put up an all-digital arm that’s separate from PNB in an attempt to keep up its pace in the modern world.

With the new online application feature, customers can simply visit the bank’s website, fill up the necessary forms, submit required IDs, and do the know-your-customer (KYC) process through video call.

Before its launch earlier this year, PNB initiated pilot testing in all of its local offices. By end of May, they were able to process 3,000 new accounts. Not only customers, but it also benefited the bank’s employees, who are mostly millennials.

Besides making the customers’ life easier, this will also help lessen physical contact to promote social distancing. In fact, to encourage customers to use its digital banking, PNB is waiving the maintaining balance for customers who will open an account until September 21, 2020.

PNB clients can also download the mobile app where they can check their balance, transfer funds, pay bills, and more.


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