To understand the Pacific Ace Savings Bank (PASB) Business Model, it’s important to view it the context in the Pacific Ace Group whose core mission is to provide seamless, value added service to Overseas Filipino Workers.
PASB’s principal affiliate is Pacific Ace Forex, HK (PAX, HK). Established in 1991, PAX, HK was pioneer in the OFW door to door remittance industry in Hong Kong. It is partnered with all major banks and money transfer companies operating in the Philippine remittance industry.
The Pacific Ace Forex name is synonymous with dependable, reliable remittances.
At that time, the only way for OFWs to send money home was through door to door delivery. But leading up to year 2000, the evolution of financial infrastructure in the Philippines made instant remittances possible. Yet the nascent technology of ATM remittances posed frequent problems for PAX customers: offline ATM machines, error transmissions, and depleted funds.
How could Pacific Ace maintain its high quality of end to end service for ATM remittance?
The Pacific Ace Group acquired Imperial Savings Bank in 2000 and invested heavily in the development of an agile, transparent system to support:
BSP Compliance System
Loan and Collection System
Pacific Ace Savings Bank and its robust electronically driven bank system is the product of this investment.
VIRGINIA S. DIO
VERONA JOY DIO
ROLDAN P. ESCALA
CHI KING EDWIN LUN
MARIA FATIMA P. TENG GUI