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FGB has new user platform

Published:Sunday | June 20, 2010 | 12:00 AM
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Abigail Philip, a banker from St. Kitts and Nevis, no doubt has the attention of other bankers from the region, Wayne Abbott (left) and Jitesh Madhwani, at the third annual User Group Conference at the Holiday Inn SunSpree Resort in Montego Bay on Thursday June 3. - Photos by Noel Thompson
Money seemed to be the topic among these GraceKennedy Group employees, from left: Dalton Fowles, assistant vice-president at First Global Bank; Michael McNaughton and Junior Graham, both of GraceKennedy Money Service.
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Noel Thompson, Gleaner Writer

WESTERN BUREAU:  First Global Bank (FGB) has distinguished itself as the only bank in Jamaica to use the Alchemy payment-processing platform, empowering its clients and at the same time increasing efficiency of its staff to meet the needs of an ever-discerning customer, says Dalton Fowles, assistant vice-president, e-business at First Global Bank.

This system offers a number of payment service opportunities which were not available locally. These include automated clearing house for retail clients; wire transfer for retail clients, cross-country transfers and manager's cheques, all done outside the bank. Customers can log into FGB's online facility, execute any of the above services and pick up at a branch of their choice. Instead of going to the bank, clients can also create their own cheques and pick up at a branch of their choice, thus saving time.

The bank, in association with IBIS Management Associates, hosted the third annual UGM conference of the Alchemy payment platform at the Holiday Sunspree Inn In Montego Bay, recently. The confab attracted 20 representatives from financial institutions from 10 Caribbean countries which use the product. FGB was the only Jamaican bank represented.

Fowles said the bank was responding to the needs of their clients in providing this service in a competitive marketplace, in an effort to maintain its relevance and grow market share. Given its size, FGB could not operate the same way that the larger commercial banks operate to compete effectivey and decided to use technology to drive the direction of the organisation. That was two years ago.

Today, the bank boasts a 30 per cent reduction in cost for online services compared to in-branch operations.

Michel Bon, director at IBIS Management Associates, with responsibility for product development and implication, says the company focuses on payment processing and payment automation in order to maximise efficiency at financial institutions.