Bank of Commerce (BankCom), a Philippine universal bank that delivered a double-digit return on equity (ROE) and part of the San Miguel Group of Companies, is undergoing a significant modernization program to strengthen its technology foundation and prepare for a rapidly shifting financial landscape. With 142 branches, inclusive of two branch lite units and close to 300 ATMs nationwide, the bank serves corporate, commercial, and retail clients across the country.
As digital adoption accelerates throughout the Philippines, BankCom recognized the need to modernize its legacy core systems to remain competitive and deliver the experiences customers increasingly expect. The bank’s leadership saw this moment as an inflection point--one requiring a deliberate strategy, strong execution, and partnerships capable of supporting a multi‑year transformation.
A Clear Modernization Mandate
BankCom’s modernization priorities were shaped by the realities of the Philippine market: increasing fintech competition, heightened cybersecurity risks, evolving open‑banking frameworks, rising regulatory expectations, and an industry shift toward 24/7 digital banking.
Chief Information Officer and Digital Services Group Head, Marie Suzanne A. Sison‑Sevilla explains the bank’s first and most important step: “Our first task was really how to get out of the legacy systems that the bank has, starting with the core banking system.”
For BankCom, modernizing the core was foundational to enhancing customer experience across digital and branch channels and ensuring the bank could keep pace with peers in the Philippine banking ecosystem.
Building the Right Team and Technology Stack
Modernization is not solely a technology project, it requires collective ownership. To support transformation across the enterprise, BankCom formed cross‑functional teams representing multiple business areas, ensuring alignment and shared accountability.
Investment in modern IT architecture and agile delivery models played a crucial role in enabling the bank to complete its core modernization initiative according to plan. The bank partnered with Infosys Finacle as its technology partner.
BankCom emphasized that it was essential to choose partners who would remain engaged throughout the journey, from design through deployment to stabilization, and support the bank for years to come.
Laying the Foundation for Future Digital Initiatives
With modernization underway, BankCom is focused on ensuring that its technology investments are future‑ready, scalable, and able to support ongoing digital initiatives across the institution. The bank views its move to a new core not as an end state, but as the beginning of a continuous modernization journey.
Data readiness and system reliability are crucial enablers. The modernization effort also includes an emphasis on strengthening cybersecurity, fraud management, and operational efficiencies, particularly as customer transactions increasingly shift to digital channels.
A Measured Approach to AI Adoption
Artificial Intelligence is a strategic area for the bank, but its adoption is guided by pragmatism and ROI discipline. Sison‑Sevilla notes that while AI presents opportunities, it must be deployed where it makes business sense and can generate measurable value.
The bank’s immediate focus areas include:
– Cybersecurity and fraud management
– Operational efficiencies through credit analytics
– Enhanced monitoring and reporting for risk and compliance
However, to unlock AI’s potential, BankCom must ensure it has access to complete, high‑quality data, a challenge the bank is actively addressing.
A Partnership Rooted in Collaboration
The partnership with Infosys Finacle has been characterized by collaboration, transparency, and consistent engagement. BankCom highlights the value of working with a stable implementation team throughout the project, which contributed to meeting the bank’s planned timelines and ensuring smoother stabilization on the new platform.
From Finacle’s perspective, the partnership is about co‑creating the future of banking, not simply deploying technology. As Sriranga Sampathkumar, Global Head of Sales, notes: “Our partnership with Bank of Commerce goes beyond technology deployment. It’s about co‑creating a new way of banking that’s agile, resilient, and centered on the customer.”
This long‑term approach includes enabling BankCom’s internal teams through meaningful knowledge transfer, ensuring that the bank becomes more self‑reliant and agile in supporting its users.
Looking Ahead
While BankCom has made significant progress, the bank views this modernization as just the beginning. Its technology investments, strengthened operating model, and collaborative partner ecosystem position it to continue enhancing customer experiences, improving operational resilience, and scaling its digital initiatives in line with the evolving needs of the Philippine market.
