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June 34, 2004

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June 34, 2004 – PowerPoint PPT presentation

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Title: June 34, 2004


1
SHAPING THE REMITTANCE MARKET BY SHIFTING TO
FORMAL SYSTEMS
  • June 3-4, 2004

2
Strengthening Formal Channels II Developing
Remittance Specific Products and Services
  • By Isabelita T. Manalastas
  • Managing Director
  • Philippine National Bank-Japan, and
  • Regional Head for Asia-Pacific

3
Strengthening Formal Channels II Philippine
National Bank in HONGKONG
4
HONGKONG
Merchant
Collection
Services
5
What is Merchant Collection Services all about?
It revolves around the concept of using
retail stores as collection outlets by
which funds are transferred
electronically from one point to the other.
HONGKONG
6
Concept and Features of Merchant Collection
Services
HONGKONG
7
Merchant Collection Services Features
It offers convenience through the
accessibility and availability of the retail
stores to the target market in a specific
geographical area.
HONGKONG
8
Process Flow
Merchant Collection Services
DAY 1 client transacts with the retail
outlets DAY 2 data file is received by PNB HK
sends it to Overseas Remittance Division (ORD)
for implementation sends it to IT Group for
batch processing DAY 3 cover of the remittance
is received by PNB from Citibank
9
Rationale of PNB embracing
Merchant Collection Services
  • not enough branches and number
    of tellers to accept remittances during
    Sundays, the day-off of Overseas Filipino Workers
    in Hongkong
  • cost issue on expansion.

10
Transaction Flow
  • client presents remittance card to the cashier
    of the retail outlet
  • cashier accepts the remittance transaction
  • files are consolidated and sent to Citibank
  • Citibank forwards the encrypted file to PNB HK
    checks/validates transactions and sends the file
    to ORD
  • forwards the file to IT GROUP for
    processing/crediting to the beneficiaries
    accounts.

11
Merchant Collection Services
Remittance Service Plus
RETAIL OUTLETS
ACCEPTS REMITTANCE using this card
12
Merchant Collection Services
Remittance Service Plus
RETAIL OUTLETS
DATA FILE
ACCEPTS REMITTANCES
IMPLEMENTS THE TRANSACTIONS BY CREDITING
THE ACCOUNTS OF THE BENEFICIARIES
13
Merchant Collection Services
HONGKONG
A new partnership . . . for a
Remittance Service
PLUS
14
Strengthening Formal Channels II Philippine
National Bank in JAPAN
15
PHILIPPINE NATIONAL BANK IN JAPAN
Opened in May 2003
Full Bank in June 1996
16
PHILIPPINE NATIONAL BANK IN JAPAN
Gunma 118 kms
Ibaraki 127 kms
Saitama 30 kms
Tokyo
Chiba 43 kms
Kanagawa 28 kms
30.1 kms.
17
PHILIPPINE NATIONAL BANK IN JAPAN
Gunma 118 kms
Ibaraki 127 kms
Saitama 30 kms
Tokyo
Chiba 43 kms
Kanagawa 28 kms
30.1 kms.
Service area limits service to
WALK-IN Clients
18
?
19
BANK TRANSFER
There are about 24,768 post offices in Japan.
POST OFFICE
20
Thru POST OFFICE Method
21
There are about 24,768 post offices in Japan.
Thru POST OFFICE
by registered money envelope or "genkin kakitome"
22
100 safe
INSURED UP TO JPY500,000 or US4,500
23
Controls
Receives Money Envelopes
PROCESS WORKFLOW 1
Validates Cash and Instruction
24
PROCESS WORKFLOW 2
Checks Validity of Transactions
Implements
ON-LINE remittance to 1,600 ATM's and online
branches in the Phils.
25
Files
Segregates
PROCESS WORKFLOW 3
Mails
26
There are 24,768 post offices in Japan.
DAY 1
Thru POST OFFICE
DAY 2
by registered money envelope or "genkin kakitome"
27
Thru BANK TRANSFER Method
28
Philippine National Bank Tokyo Branch Kamiyacho
Branch Acct. No. 2467369
Remit money to an account other than your own.
Thru BANK TRANSFER
by domestic money transfer or "ginko furikomi"
29
PNB Tokyo Catching Account
Procedure in Ginko Furikomi Implementation
Confirmation
Thru BANK TRANSFER Method
30
http//www
Thru BANK TRANSFER Method
31
Implementation
Checks Validity of Transactions
PROCESS WORKFLOW 1
32
Segregates
ON-LINE remittance to 1,600 ATM's and online
branches in the Phils.
Files
Mails
PROCESS WORKFLOW 2
33
Verification of Clients Identification PROCEDURE
34
Verification of Clients Identification
PROCEDURE
NO
ID VALID?
YES
SCAN
35
Verification of Clients Identification PROCEDURE
ID SCANNED
HATTORI, LEONORA L.
038069
Issues PNB Remitter ID
36
Resends Returned Mail
NO
RETURNED MAIL?
HATTORI, LEONORA L.
038069
YES
Verification of Clients Identification PROCEDURE
Philippine National Bank, Tokyo Branch 4-1-13
Toranomon, Minato-ku, Tokyo 105-0001
HATTORI, LEONORA L. 4-1-13 MINAMI TOKYO 111-1111
RETURNED MAIL
Contacts Client
37
Processing of Over JPY1 Million Transactions
38
Processing of Over JPY1 Million Transactions
Contacts Client
NO
ID VALID?
YES
SCAN
39
Processing of Over JPY2 Million Transactions
Processing
Posting w/ Supervisor Override
Processing
Posting w/ Supervisor Override
Checking/Approval
Checking/Approval
Reports to
Checklist for Auditor
Checklist for Auditor
and
40
Because we care . . . through the years.
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