Finance is undeniably crucial for any business, serving as its foundation and driving force. However, in the face of unprecedented challenges that businesses have encountered in the past two years, sustainability has emerged as the key element. Ian Ocampo, the President and CEO of PETNET, Inc., is a business leader who truly understands the financial products and services best suited for addressing the needs of Filipinos.
Recognizing the power of finance in enabling seamless operations across industries and in everyday life, Ian endeavors to revamp and strengthen the financial services sector through PETNET. As a dynamic financial services company in the Philippines, PETNET boasts over 3,000 partner locations nationwide that offer a comprehensive range of financial services.
CEO Insights ASIA recently had the opportunity to engage in a one-on-one conversation with Ian Ocampo. In this interview, he sheds light on his professional journey and more. Let's delve into the details!
Tell us about your professional background and experiences. Also, what is the motivation that fuels your daily routine?
After graduating from the Ateneo De Manila University, I briefly worked in sales for a telecommunications company. I also had the privilege of spending four years working for one of our family businesses that specialized in exporting handicrafts globally, which was led by my mother. Witnessing the establishment of our business today, I deeply appreciate how my mother strived to uplift the lives of our local suppliers across the country by providing them with insights and trends from international markets for the upcoming seasons.
It was during this period of professional growth and learning that my path intersected with PETNET, a remittance business that had just started in 1998. During the initial years of my PETNET journey, I was involved across various roles such as business development, marketing, and corporate governance. Following my almost two decades of experience in sales combined with a better understanding of business dynamics, I was honored to be entrusted with the role of President and CEO, propelling me into a position where I could apply my expertise and lead PETNET through its transformation.
We all know that the remittance industry is disrupted, and it’s a huge challenge working towards its elevation and organization. I believe this challenge is reflected in our journey, particularly in how we successfully pivoted from being solely a remittance company to becoming a sales organization with forex exchange trading and international payments, and the aggregation of loan products in partnership with Citi Savings Bank (CSB). The strong coordination within our team serves as a constant source of motivation, propelling me to build a more relevant and robust company.
You hold two decades of experience, how has your path to success been? Also, what is your success mantra?
My journey with PETNET for over two decades has been productive. We started as a solitary remittance business and swiftly expanded nationwide through our exclusive partnership with Western Union.
Within just three years of operation, PETNET established a presence in over 2,000 locations. Over time, we expanded our services by adding retail-level money changing, bill payments, micro insurance, and now, cross-border payments and corporate dollar trading. However, as early as 2012, we recognized the disruption and competition looming in the remittance field.
Consequently, we made other efforts to find a new, sustainable business model. While our initial attempt at acquiring a courier company proved unsuccessful, we eventually forged a partnership with Aboitiz Equity Ventures (AEV). Through this collaboration, we were able to leverage their products for our nationwide network, aiding their expansion.
Today, as we continue to maximize our nationwide footprint, PETNET's majority ownership has transitioned from AEV to City Savings Bank, a wholly-owned subsidiary of Union Bank of the Philippines. Given the ongoing disruption caused by worldwide digital adoption, this transition was a significant step forward. Thus, adaptability and learning new approaches, coupled with customer-centric product offerings, the right team, and supportive shareholders, have been the key factors behind our company's success.
Today, customer-centricity and data analytics plays a pivotal role, particularly in customer engagement. Hence, I would encourage new industry leaders to always put the customer first and use data-driven insights to make informed decisions going forward
Could you tell me about the unique experiences the Asian Institute of Management, Makati, Metro Manila offers and what you learned from the campus career in academics?
The Asian Institute of Management (AIM) provided me with a remarkable experience, and the most important aspect beyond academics has always been the network and the set of friends I made. Many of my batchmates now hold important positions in prominent companies and conglomerates here in the country, and I am immensely proud of their achievements. This advantage becomes evident when my line of work requires collaboration or exploration with their organizations. Our shared history and friendship make it easier to connect and understand if we can truly assist each other.
It was also at AIM where I met my wife, and we have enjoyed a happy relationship for the past 15 years, with a 13-year-old son.
How would you describe PETNET as an organization and its current position in the market?
From its roots as a primarily remittance-focused business, PETNET has successfully transformed into a sales organization that thrives on three key pillars: a). Forex Solutions through cross-border payments and corporate dollar trading; b). Loan services through our partnership with PETNET’s majority owner- City Savings Bank; and c). Remittance, through which we expanded to over 30 remittance brands, catering to a diverse range of clients in the past three years alone. We are also proud to highlight that we have successfully pivoted over 90 percent of our income from sales-related activities.
PETNET is in a unique position because of its affiliation with AEV, UnionBank Philippines and City Savings Bank. We are recognized as leaders in our respective businesses and remain committed to maximizing our presence and exploring new avenues to expand our foothold in the markets we serve.
Tell me about your leadership approach.
We all know leadership is an extremely critical task, so it is equally important to have a great team in place that works collaboratively. Despite our differences, mutual respect forms the bedrock of productive discussions that address and overcome any challenges.
We all know leadership is an extremely critical task, so it is equally important to have a great team in place that promotes cooperation and mutual respect. Despite our differences, active collaboration forms the foundation of productive discussions that address and overcome any challenges. The guidance of our Board of Directors, particularly our Audit, Corporate Governance, and IT Steering Committees, has paved the way for us to ramp up PETNET’s governance capabilities and management systems. This approach, along with fostering an innovative, collaborative, and supportive environment, has been instrumental in cultivating a productive winning team.
Ian Ocampo, President & CEO, Petnet
An efficient business leader with diverse experience across various fields, Ian is committed to leading PETNET as the company serves the needs of the unbanked and underserved, making financial inclusion a reality for every Filipino.
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