PASAY CITY, Philippines
- Oct. 12, 2021
-- Philippine National Bank (PNB) was honored by The Asian Banker with KYC & Customer Onboarding Technology Implementation of the Year during its annual Risk Management Awards.
"The banking landscape has been changing significantly in response to evolving customer expectations, technology, and regulatory environment,"
said PNB President and CEO Wick Veloso. "At the end of a day, an effective transaction monitoring system is needed to tackle financial crime risks," he added.
The Asian Banker recognized PNB's enterprise-wide Transaction Monitoring System for enabling the bank to effectively detect facilitation of financial crimes within its books. The Asian Banker said that the project has strengthened PNB's broader KYC efforts through enhanced transaction monitoring and mitigating risks that may appear during the lifecycle of customer relationships.
"We thank The Asian Banker for recognizing PNB's commitment in fulfilling our compliance obligations very seriously in order to preserve the integrity of the financial system," said PNB Chief Compliance Officer and Global Compliance Group Head Atty. Isagani Cortes. "We continue to leverage on solutions to efficiently address and mitigate financial crime risks and at the same time, effectively manage its risk," he added.
The Asian Banker Risk Management Awards is a program designed to identify emerging best practices and outstanding achievements of the best run risk management teams in financial institutions across Asia Pacific, the Middle East, and Africa.
To know more about PNB, visit: www.pnb.com.ph