CARD Bank recently implemented its ATM system by availing of BancNet’s outsourcing service. At this time there are three other banks that are in full operations using the latter’s outsourcing service. These are BPI- Globe BanKO, Wealth Bank and Producers Bank.
CARD Bank, a microfinance bank based in San Pablo City, has 41 branches and 311 other banking offices nationwide. It launched its first three ATMs last November in San Pablo City, Lucena City and Dolores, Quezon. The Dolores ATM is the first and only ATM in the town.
Banks are now realizing the advantages of outsourcing to BancNet. In the second half of 2010, BPI Globe BanKO, a mobile savings bank created through the partnership between the Bank of the Philippine Islands and Globe Telecoms, outsourced its ATM card issuance system and transaction switching to BancNet.
Other banks have also availed themselves of BancNet’s full ATM switch outsourcing consisting of ATM switch, card management and ATM operations. Cebu-based Wealth Bank of the Vicsal Development Corporation (owner of the Metro Gaisano Chain of Department Stores and Supermarkets) was BancNet’s first full switch outsourcing client. It was later followed by Producers Bank who at 60 branches had the second largest number of branches in Luzon among rural banks prior to upgrading to a savings bank. Producers Bank now has 12 ATMs and plans on acquiring more for their branches.
With BancNet outsourcing service, setting up an ATM switch becomes painless particularly for banks implementing ATM systems for the first time. These banks need not suffer the birth pains associated with ATM implementation. Moreover, banks that already have existing networks may avail of the service and do away with the need to upgrade and purchase replacement systems.
BancNet has a fully operational multi-institution ATM switch that can provide the system for issuing a bank’s ATM cards, for switching ATM transactions (that allows ATM cardholders to transact at ATMs of other member banks), for operating ATMs and interfacing the bank with other switches such as Expressnet and MegaLink locally, China Union Pay, JCB, Diners Club, Discover Card, MasterCard, and VISA, globally.
