Makati Banking Center led by Branch Head Chito Ayson recently signed a Memorandum of Agreement with Prumerica Life Insurance Company for the implementation of the Bank's collection service. The said agreement involves an automatic debit arrangement (ADA) wherein the Bank auto-debits enrolled accounts of policyholders to effect the payment of insurance premiums every due date.
Prumerica is the first client availing of the Bank's collection service via the ADA facility.
The arrangement is said to help the company increase its collection efficiency. ADA, by far, is one of the preferred modes of payment of Prumerica Life for insurance premiums.
Aside from PBCom, several other banks are servicing the company with the same facility. But PBCom has been singled out by Prumerica life because of its strong appeal to Chinese customers. Apparently, the company intends to beef up its market presence in the local Chinese community.