MAKATI City, Philippines – Philippine software development company Vinta Systems is betting its future on locally developed solutions that will make use of artificial intelligence, its newly named chief executive officer said Tuesday.

Under its president and CEO Bernard Yu, the company disclosed plans to re-launch existing products now used by local media buyers and banks to make better decisions.

He also revealed plans to expand its offerings and target market to regional organizations, but stressed that they will continue developing their product portfolio for local companies.

The company has also named new board of advisors who are expected to help the current board of directors chart its future directions.

Yu said the board of advisors will mainly help further develop the current and future products of the company, which mainly uses artificial intelligence.

These new advisors include Dr. Grace Ugut, associate dean of the Executive Education and Lifelong Learning of the Asian Institute of Management; Dr. Prospero Naval Jr., associate professor and coordinator of the Computer Vision & Machine Intelligence Group of the University of the Philippines; and Dr. John Paul Vergara, chairman of Department of Information Systems and Computer Science of Ateneo de Manila University.

Vinta Systems has been developing decision-making systems and various intelligent process support software that uses a set of algorithms to deal with non-linear data, Yu said.

The current set of similar artificially intelligent solutions is available to local organizations but at a price, he said.

Vinta Systems hopes to offer a locally made and most likely a more affordable solution for Philippine companies, starting with banks for its consumer credit risk evaluation, the executive said.

Since its establishment in 1998, the company has created a consumer credit risk evaluation solution for banks and media planning software for media buyers.

Vinta Systems was founded by Augusto Lagman (who was still with SSI) and Peter Valdes who recently died after battling pancreatic cancer.

Vinta Systems has about 30 employees, with half engaged in software development.

“Our vision is we want to have thought leadership in artificial intelligence in the Philippines,” Yu said.

Yu was appointed as president and CEO of Vinta on June 10, 2008. Yu was former managing director of Oracle Philippines.

The company was formally incorporated in 2000 and was granted pioneer status in information technology by the Board of Investments in 2001.