BDO Unibank Inc. (BDO) won the Best Cash Management Solution in the Philippines award at the 16th Annual Best Deal and Solution Awards 2022. BDO was recognized for its collections solutions for the Bank’s client, International Container Terminal Services Inc. (ICTSI), known to be among the world’s top 10 global terminal operators. The award was given by Alpha Southeast Asia, an institutional investment publication focused on Southeast Asia which includes the Philippines, Singapore, Indonesia, Malaysia, Thailand, and Vietnam.
BDO has consistently been providing innovative solutions specific to the institutional client’s need in managing their cash flow requirements through the Bank’s efficient payments and collections processes supported by its enhanced digital technology.
The Collections Facility which allows Real-time Settlement and Notification of each payment received enables the Bank to fully cover the reconciliation and matching requirements of ICTSI’s customs and duties processes.
From big shipping companies and brokers to sole proprietors, each of these ICTSI clients can now pay their fees and duties through the Bank’s digital platforms — Business Online Banking (BOB) and Personal Online Banking (POB), as well as over the counter (OTC) at any BDO branch, the network with the widest coverage in the country.
“Our partnership with ICTSI embodies our philosophy of ‘We Find Ways.’ This solution helps ICTSI customers save on port charges, as their dues are settled faster and goods are released quicker. ICTSI, on the other hand, also benefits from faster payment reconciliation and quicker turnover of goods on their ports.
This solution focuses on giving the rich payment information quicker while also speeding up the movement of cash in real-time manner,” said Carlo Nazareno, Senior Vice President and head of Cash Management Services of BDO Unibank.
BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management.
The Bank has the country’s largest distribution network, with over 1,600 consolidated operating branches and more than 4,600 ATMs nationwide, and has 16 international offices in Asia, Europe, North America and the Middle East. The bank also offers extensive digital banking solutions to make banking easier, faster, and more secure for its clients.