|ENCASH NETWORK SERVICES APPROVED BY MEGALINK|
ENCASH Network Services (ENS), the Philippines’ first Independent ATM Network, has recently been accepted by MegaLink, one of the country’s foremost ATM network companies. A breakthrough in Philippine banking history, this is the first time than an Independent ATM Network has been approved entry by any local Shared-ATM Consortium.
Megalink’s Executive Committee held a meeting last May 4, 2007, and in a letter dated May 7, 2007, announced the approval of ENS’s application as an Affiliate Network member of MegaLink. Last May 17, ENS and MegaLink officials formally met to discuss the probable partnership.
ENCASH Network Services (ENS) currently has four of the country’s most prominent rural banks as its members, namely GM Bank, the second largest in Nueva Ecija; Bank of Florida, the largest in Pampanga; Bangko Kabayan, the largest in Batangas; and 1st Valley Bank, the fourth largest rural bank in the entire Mindanao. ENS will install a combination of the latest hardware and software to provide members a secure, advanced, modern, and flexible ATM service, which in turn will bring world-class services to cardholders.
ENS, the country’s only independent ATM Transaction Processor, also allows member banks to enjoy the benefits of advanced ATM services without having to make the significant investments required for a 24/7 operation. The software will be u/Switchware in its latest release, 3.11. Among its many unique capabilities, u/Switchware Release 3.11 supports the latest standards of security such as 3DES, EMV (for “Smart” cards) and RSA. In contrast, many Philippine commercial banks are still on the older, soon-obsolete single DES standard.
Photo shows (L-R) Nilo Agustin – ENCASH Chief Operating Officer, Gie Severino, BDOEPCIB VP Chief Information Officer, Beth Tria – ENCASH Chief Information Officer, Bernadette Arguelles-Ramos MegaLink VP Products & Services, Criselda Santillan – MegaLink VP and General Manager, Benjamin Castillo - MegaLink President, Eric Severino – ENCASH President, Francis Ganzon – Bangko Kabayan President, Teresa David-Carlos – Bank of Florida President, Nicolas Lim – 1st Valley Bank President, Ives Nisce - Rang-Ay Bank President, Mitch Gomez – GM Bank President, Mike Mapa – ENCASH Director, and Odessa Salvador from Bank of Florida.
|Last Updated on Wednesday, 27 August 2008 02:33|