Manila, Philippines–Software solutions company MultiSys Technologies Corporation recently sealed a partnership with JG Summit Holdings’ financial services arm Robinsons Bank to develop an advanced software solution that will strengthen the bank’s data security and streamline operations through automation.
MultiSys is set to create a digital Operational Risk Management System (ORMS) for the commercial bank. This is in line with the Bangko Sentral ng Pilipinas (BSP)’s mandate, which requires all supervised financial institutions to adopt an effective risk management system to ensure healthy and safe operations.
The ORMS will further secure data and automate the operational and other risk management tools of the bank to promote a more effective and compliant enterprise-wide risk management system.
According to Robinsons Bank Corporation President and Chief Executive Officer Elfren Antonio S. Sarte, companies in the banking and finance industry need to speed up their efforts on digitalization to improve business operations and meet the evolving needs of Filipino consumers.
“We are very excited to work with MultiSys. This partnership brings us a step further in our digital transformation journey as the ORMS will enable us to counteract internal and external risks systematically. Through its expertise in innovative digital solutions, Multisys will help improve our internal operations in order for us to better serve our clients in this ever-evolving digital age,” said Sarte.
With this partnership, MultiSys promotes technology adoption and data security in the Philippine banking and finance industry. “Our partnership with Robinsons Bank will help us achieve our goal to help companies keep pace with the rapid digital transformation in the Philippines. In this age, data is the most valuable asset that a company can hold. The ORMS will not only ensure data security, but it will also help the company prepare and avoid risks that will negatively affect its business and consumers, said MultiSys President and Chief Executive Officer David L. Almirol, Jr.
Apart from this partnership, MultiSys aims to empower Philippine businesses in other industries like information technology (IT), government, healthcare, utilities, hospitality, retail, and the academe, through developing advanced systems solutions and technologies.