Information and Communication Technology
MASS SPECC always tries to find innovative solutions to bring to its member cooperatives and the latter to its individual members in the fastest and most efficient manner. Given the large number of member cooperatives and their dispersed locations, the federation relies heavily on information and communication technology to try to bring everyone in the loop, so to speak, and remain well-informed, productive, and competitive in this increasingly interconnected world.
Through its Information and Communication Technology (ICT) Unit, MASS SPECC is able to bring up-to-date software solutions to the increasing volume of transactions that member cooperatives handle each day. Much like a bank, many cooperatives under the MASS SPECC umbrella must have ATM installations, especially in remote areas not normally served by commercial banks, to serve the financial needs of their members.
New upgraded MSRTE System
In 2015, MASS SPECC introduced its latest version of MSRTE software, the MSRTECORE Banking System. The system is an innovative, web-based banking solution that integrates the financial processes and operations of multiple branches of cooperatives, using advanced technology that will run even in slow bandwidth connection. The MSRTECORE is currently being pilot tested at two sites of one cooperative.
First Non-Bank Member of Megalink to Connect to Bancnet
With the consolidation of the operation of Megalink with Bancnet in 2015, MASS SPECC wasted no time to connect to Bancnet, the surviving entity in October of the same year. As such, MASS SPECC has the distinction of being the first cooperative federation in the country to connect to both consortia, first with Megalink over 10 years ago and now with BancNet, the largest ATM consortium nationwide, with 116 banks and non-bank financial institutions as members, compromising a total of more than 22,000 ATM terminals all over the country.
IT Education and Training
The ICT Unit conducted back-to-back IT training in November 2015, the first in a series. An “MSRTE System Users Update” was held on November 19, 2015 for current system user to keep them informed of the new and more advanced features of the software, followed by a two-day training on November 20-21 on “Internal Control System of MSRTE” for accounting staff and internal auditors of member coops using the MSRTE system.
MASS-SPECC General Assembly Registration and Election System
Another key accomplishment of the ICT Unit during the year was its completion of the General Assembly Registration and Election System for cooperatives. The system allows the computerization of the General Assembly registration and election process, from administration of both voter’s and candidate’s data to the electronic election, involving E-Voting, E-Counting, and E-Canvassing. As a result of the successful pilot testing in two General Assemblies of Sta. Catalina Credit Cooperative and Sta. Catalina Multi-Purpose Cooperative, the e-Registration and e-Voting system is slated to be fully implemented in at least 50 coops in 2016 for their General Assembly in 2017.
MASS-SPECC Credit Information Transmittal System (MCITS)
In line with the new Credit Information System Act (CISA), which requires financial services institutions, including coops to submit relevant and updated information to the Credit Information Corporation (CIC) database, the ICT Unit developed and implemented a CISA interface to the MSRTE System. MASS SPECC Credit Information Transmittal System (MCIT System) is an interface that transmits credit data of individual members electronically to assist member coops to comply with the required information for the CIC database.
Implementation of IT Risk Management System
In line with BSP Circular 808 which sets the “Guidelines for Information Technology Risk Management for all banks and other BSP-supervised Institutions,” the ICT Unit is championing the implementation of the Information Technology Risk Management System (ITRMS) within MASS SPECC and its affiliate coops. The initial effort consists of two policies crafted to improve the System Acquisition and IT outsourcing and conduct of Security Awareness training for MASS-SPECC staffs.