CBS-1 Retail Deposit & Account Services
Deposit and Account Services form the foundation of banking operations for Rizal Commercial Banking![[OR] [RCBC] [PH] [E3] [CBS] [1] [ITo] Retail Deposit & Account Services](https://no-cache.hubspot.com/cta/default/3893111/15c8b31b-2fdd-4927-814a-f2e201998327.png)
Corporation (RCBC), underpinning customer relationships and enabling a wide range of downstream financial services such as payments, lending, and digital banking.
In the context of operational resilience, this service is typically classified as a Critical Business Service (CBS) because any disruption can result in immediate and widespread customer harm, including loss of access to funds, failed transactions, and erosion of trust.
In line with BSP Circular No. 1203, Series of 2024, RCBC is required to adopt an end-to-end view of its critical operations and identify the detailed processes that support service delivery.
This includes mapping dependencies, setting impact tolerances, and ensuring the Bank can continue operating within acceptable limits during disruptions.
Deposit and Account Services, being highly transactional and customer-facing, must therefore be broken down into granular processes (Sub-CBS) to support effective resilience planning and testing.
Purpose of the Chapter
The purpose of this chapter is to provide a detailed breakdown of the Sub-CBS (detailed processes) that constitute CBS-1 Deposit and Account Services for RCBC.
By decomposing this critical service into its operational components, this chapter enables business units and operational resilience practitioners to clearly understand how the service is delivered end-to-end.
This structured breakdown supports subsequent stages of the operational resilience lifecycle, including dependency mapping, process and resource mapping, impact tolerance setting, and scenario testing.
It also aligns with regulatory expectations by ensuring that RCBC can identify vulnerabilities at a granular level and implement targeted controls to maintain service continuity during disruptions.
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Table P1: Detailed Processes for CBS-1
|
Sub-CBS Code |
Name of Sub-CBS |
Description of Sub-CBS |
|
1.1 |
Customer Onboarding and Account Application |
Captures customer applications through branch, digital, or agent channels, including data entry, product selection, and initial documentation submission. |
|
1.2 |
Customer Identification and Verification (KYC/CDD) |
Performs identity verification, screening against sanctions/AML lists, and customer due diligence in compliance with regulatory requirements. |
|
1.3 |
Account Approval and Opening |
Reviews the application, performs internal checks, and activates the account within the core banking system. |
|
1.4 |
Initial Funding and Deposit Booking |
Processes initial deposit transactions, validates funding sources, and records balances in the system. |
|
1.5 |
Product Terms Setup and Account Parameter Maintenance |
Configures account attributes, including interest rates, fees, limits, and product-specific conditions. |
|
1.6 |
Deposit Transactions Processing |
Handles day-to-day deposit transactions, including cash deposits, cheque deposits, transfers, and electronic credits. |
|
1.7 |
Withdrawal and Funds Access Processing |
Enables customers to withdraw funds via branches, ATMs, or digital channels, with validation and authorisation controls. |
|
1.8 |
Account Servicing and Customer Maintenance |
Manages updates to customer information, account modifications, requests, and service inquiries. |
|
1.9 |
Interest, Fees, and Charges Processing |
Calculates and applies interest accruals, service charges, penalties, and other account-related fees. |
|
1.10 |
Statement, Passbook, and Balance Reporting |
Generates account statements, passbook updates, and balance inquiries across channels. |
|
1.11 |
Digital Account Access Enablement |
Provides customers with access to internet and mobile banking platforms, including credential setup and authentication mechanisms. |
|
1.12 |
ATM and Card-Based Access Management |
Issues and manages debit cards, PINs, and ATM access, including activation, blocking, and replacement. |
|
1.13 |
Account Reconciliation and Exception Handling |
Performs reconciliation between systems, identifies discrepancies, and resolves transaction exceptions. |
|
1.14 |
Dormancy, Holds, Restrictions, and Account Control Administration |
Applies account status changes such as dormancy, legal holds, freezes, or restrictions in accordance with policies and regulations. |
|
1.15 |
Fraud Monitoring and Transaction Surveillance for Deposit Accounts |
Monitors transactions for suspicious activity, triggers alerts, and initiates fraud-prevention or investigative actions. |
|
1.16 |
Complaints, Disputes, and Service Recovery |
Handles customer complaints, transaction disputes, and service recovery actions to restore customer confidence and resolve issues. |
Regulatory Alignment and Operational Resilience Considerations
Under BSP Circular No. 1203 Series of 2024, RCBC must ensure that each of the above Sub-CBS processes is:
- Clearly mapped end-to-end to identify dependencies across people, processes, technology, facilities, and third parties
- Assessed for vulnerability under severe but plausible scenarios such as cyberattacks, system outages, or third-party failures
- Aligned with defined impact tolerances, such as maximum tolerable downtime and acceptable levels of customer impact
- Subject to scenario testing, ensuring the Bank can continue delivering Deposit and Account Services within acceptable thresholds
For Example
- Sub-CBS 1.6 (Deposit Transactions Processing) and 1.7 (Withdrawal Processing) must remain operational within very tight tolerances due to their direct impact on customer access to funds.
- Sub-CBS 1.11 (Digital Account Access) and 1.12 (ATM Access) highlight dependencies on ICT systems and third-party networks, which are explicitly emphasised in BSP guidelines.
- Sub-CBS 1.15 (Fraud Monitoring) reflects regulatory expectations for integrating operational resilience with cyber resilience and financial crime controls.
These examples demonstrate how regulatory expectations are operationalised at the process level.
![Banner [Summing] [OR] [E3] Detailed Processes](https://no-cache.hubspot.com/cta/default/3893111/bce25519-5bf0-4302-aa7e-f4d565499b6d.png)
The decomposition of CBS-1 Deposit and Account Services into detailed Sub-CBS processes provides RCBC with a structured and practical foundation for implementing operational resilience.
By identifying and documenting these processes, the Bank gains visibility into how critical services are delivered and where vulnerabilities may exist.
This level of granularity is essential to meet the requirements of BSP Circular No. 1203, Series of 2024, particularly in areas such as dependency mapping, impact tolerance setting, and scenario testing.
More importantly, it enables RCBC to design targeted resilience strategies that ensure continuity of essential banking services even during disruption.
As RCBC progresses in its operational resilience journey, these Sub-CBS processes will serve as the building blocks for deeper analysis, testing, and continuous improvement—ensuring that Deposit and Account Services remain reliable, secure, and resilient under all conditions.
![[OR] [RCBC] [PH] [E3] [CBS] [1] [MD] Retail Deposit & Account Services](https://no-cache.hubspot.com/cta/default/3893111/9a389c5d-0a68-450e-b95b-aa3c94786857.png)
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