The shareholders of electronic banking consortium BancNet, Inc. elected the company’s directors and officers during their annual stockholders’ meeting held June 30, 2020. Nestor V. Tan and Cezar P. Consing were given a fresh mandate to lead the company as chairman of the Board and president respectively, for the term 2020-2021.
Tan is currently the president and CEO of BDO while Consing is the president and CEO of BPI and of the Bankers Association of the Philippines.
Consing told the stockholders that BancNet’s role in the banking industry will become more important this year as consumer behavior change to adapt to the Covid-19 pandemic. “…it has made high-tech services much more important in what has been traditionally a high touch industry,” he said.
“BancNet is strategically positioned to be at the center of all these changes, as it keeps apace with fintech advancements and with the way people do their financial transactions,” Consing added.
Tan revealed the consortium’s objectives of “ensuring that our domestic ecosystem stands on solid foundation, ensure operational efficiency through effective governance, infrastructure redundancy and flexibility to accommodate any type of emerging technology that serves this end. “
One such technology is the cutting-edge real-time payments infrastructure that BancNet is building with Mastercard that will enable real-time transactions other than payments and fund transfers. “It will provide us the capabilility to do so much more in the years ahead. By tapping its capabilities, we are well poised to continue leading in the digital space, “said Tan.
He added that “with digital transformation thriving domestically, the next big step for us is to pursue increased international connectivity through partnerships with our counterparts in other countries so that cross border payments and remittances can be done as simply as using instaPay.”
The other elected members of the 15-man Board are: Eugene S. Acevedo, President and CEO of RCBC; Michaelangelo R. Aguilar, President and CEO of Bank of Commerce; Edwin R. Bautista, President and CEO of Union Bank; Cecilia C. Borromeo, President and CEO of Landbank; Joseph B. Estavillo, Senior Vice President of CTBC Bank; Marie Fe Liza S. Jayme, Senior Vice President of PNB; Higino O. Macadaeg, Jr., President and CEO of UCPB; Antonio C. Moncupa, Jr., President and CEO of East West Bank; Wilfredo C. Rodriguez, Jr., Executive Vice President of AUB; Elfren Antonio L. Sarte, President and CEO of Robinsons Bank; Richard Benedict S. So, Executive Vice President of Metrobank; William C. Whang, President of China Bank; and Daniel U. Yu, Executive Vice President of Security Bank.
The Board elected the following key officers of the company: Aristeo P. Zafra, Jr., CEO; Marie Fe Liza S. Jayme, Treasurer; Agnes H. Maranan, Corporate Secretary; and Elmarie S. Reyes, Assistant Corporate Secretary.
The Board also appointed the members of the Operations Committee which is responsible for translating Board-defined policies into detailed operating policies and procedures. They are: Dennis C. Bancod (RCBC), Allan V. Bornas (Land Bank), Marie Carolina L. Chua (China Bank), Angelito V. Evangelista (Robinsons Bank), Marie Fe Liza S. Jayme (PNB), Randall Evangelista (UCPB), Allan Libunao (CTBC Bank), Michael Magbanua (Union Bank), Tomas Victor A. Mendoza (BDO), Wilfredo C. Rodriguez, Jr. (AUB), Noel A. Santiago (BPI), Salvador Serrano (East West Bank), Roseann T. Tan (Metrobank), Jay Velasco (Bank Of Commerce), and Daniel U. Yu (Security Bank).
