It is interesting to note that there are also non-bank institutions 1 that deploy ATMs to serve the needs of the depositing public in remote areas of our country. Thus, today, banking services are within reach of segments of the population that previously had no access due to geographic and cost constraints.
All these have resulted in greater convenience to the public who can now choose to bank anytime, anywhere. In the same vein, banks have also benefited from these technological advances, as efficiencies improve and operational costs are reduced. Indeed, the Philippine banking industry continues to undergo rapid and extensive transformation, due largely to improvements and innovations in communications and information technology.