FIS (FIS), the world's largest provider of banking and payments technology, today announced that Philippine National Bank (PNB) has signed a multi-year agreement for delivery of an integrated retail payments platform supported by FIS' Connex Electronic Funds Transfer (EFT) switching solution.
Founded in 1916, PNB remains one of the largest banks in the country, serving more than 2 million customers with a wide array of competitive banking products. PNB maintains its leadership position in the overseas remittance business with remittance centers in the U.S., Canada, England, Spain, the Netherlands, France, Germany, Austria, Italy, Hong Kong, Japan, Singapore, Malaysia and several Middle Eastern countries.
Seeking to modernize its ATM switching solution, PNB selected FIS' CONNEX for its exceptional EFT processing capabilities that meet the bank's requirements for the future. The comprehensive functionality and flexibility of FIS' CONNEX platform will enable PNB to offer customer services of the highest quality, while being highly responsive to new customer needs. FIS has an extensive local support network for its Asian clients, and PNB will be able to rely on a team of FIS specialists based in the Philippines to support its new switching platform.
FIS' CONNEX, an enterprise-grade EFT and payments switching solution, is used by many institutions whose monthly transaction volume exceeds 1 billion transactions. CONNEX is a proven high-volume EFT switch, and is behind one of the largest ATM driving operations in the world, driving more than 53,000 ATMs through a single deployment. FIS CONNEX leverages an underlying fault tolerant, redundant architecture and the solution has received first-place recognition in eight of the last 15 years for its outstanding availability in the annual International Tandem Users Group (ITUG) NonStop Availability Awards.
"PNB selected FIS' ATM solution for its ability to modernize the bank's existing payment platform, enabling PNB to offer up-to-date features in response to customer demands. The robust functionality, high availability and scalability of FIS' CONNEX platform will provide PNB with an improved ability to meet business requirements in a dynamic market," said Ramon Abasolo, first senior vice president and chief technology officer, Philippine National Bank.
"FIS is the leading provider of technology to banks in the Philippines and our clients include five of the top 10 banks in the country," said Raja Gopalakrishnan, group managing director, Asia. "FIS switching solutions power the largest interbank ATM network in the Philippines today. Our solutions deliver full-service ATM driving and switching for clients of all sizes, while offering the highest levels of performance, flexibility and scalability. Our success in the Philippines is a testament to the ability of FIS to deliver the depth and breadth of technology required by top-tier clients."