IBM (NYSE: IBM) announced that Nationlink Network (Nationlink) has chosen IBM technology to enhance its ATM network and information infrastructure.
This move is in line with the electronic financial and payment network solutions provider's strategy to bring cutting-edge financial services to the untapped and underserved citizens in remote areas of the country.
As of the ATM and payment network operators in the Philippines, Nationlink is dedicated to building a more inclusive finance network for the underprivileged by working with bottom-tiered financial institutions. This includes companies like microfinance institutions (MFIs), credit cooperatives, rural and thrift banks, savings and loan associations, lending companies, remittance companies, and local government units. Nationlink enables these financial institutions to interoperate and collaborate by leveraging technology to form a nationwide shared network as well as via various electronic delivery channels.
Under the agreement signed in August, Nationlink has upgraded its Network Switching Platform (NSP) in its Data Center which operates non-stop 24x7 using the IBM System x3550 and IBM System Storage DS3400.
Nationlink has also standardized the use of IBM servers in its ATMConnect - an ATM System package for its institutional subscribers/network members. It powers the subscriber's ATM and Card transactions, and its interconnection to the Nationlink-BANCNET network.
"There is a need in the Philippines for a modern electronic financial network to connect the thousands of branches of small financial institutions together," said Zoilo Jesus M. Dela Cruz III, co-founder of Nationlink Network. "More than 80% of Filipinos are under-serviced, and have to travel long distances to reach a banking facility. We need to enable the delivery of modern financial, banking, and payment services to a vast underserved market."
"Through our ATM and POS networks, customers in remote areas will have access to modern electronic banking and microfinance services, inter-island money transfer facility, and international money remittances."
Nationlink is banking on IBM technology to fulfill its objectives. Specifically, IBM x3550 was selected for its reliability and superior support features such as the Baseboard Management Controller and light path Diagnostics which provide a high level of manageability that can ensure superior uptime and control energy consumption, even when network usage increases.
In addition, IBM will impart its global expertise and technology knowledge on large-scale networks to Nationlink. The partnership also reinforces IBM's worldwide initiative to be a major player in the Microfinance sector and commitment to contribute significantly to efforts that alleviate poverty worldwide.
"More than just providing technology expertise, IBM is truly honored to partner with Nationlink in such a noble and meaningful goal of linking the nation in order to transform lives of rural citizens in the country," said James Velasquez, General Manager, IBM Philippines. "We will continue to support their endeavors and enable their ongoing operations and future expansion programs."