Local software company develops ATM service for rural banks

The local software development industry is gaining fast acceptance from the banking industry and is expected to service more of its requirements in the years to come.

Already, banking software authority Infoserve Inc. is leading the packs with its development of a cost-effective high-technology banking software that enables thrift and rural banks to offer automated teller machine (ATM) service, a move that is expected to significantly boost rural development in the country.

The ATM connect package developed by Infoserve consists of an ATM card and management software bundled with an ATM machine. Using the latest technologies from Microsoft, ATM Connect works with all existing rural bank deposit software, be it in-house developed or packages such as Infobanker, Microbanker, SavePlus, and the recently launched MABS-RBAP RB2000.

Infoserve bundles brand new ATMs from NCR, Diebold, IBM, Siemens-Nixdorf, and Fujitsu for first-time users while refurbished ATMs are also being made available depending on the client’s preference.

In order to ensure wider market coverage, the company has forged business alliances with Automated Systems and Equipment Corp. (ASEC) and Micro Banker Phils. Inc. (MBPhil).

Company officials said clients have several acquisition options, including outright cash payment to installment terms. Leasing terms are also available, both through in-house and LBP Leasing financing.

A growing number of rural banks are vying to be the first in their respective areas to offer ATM services. But the first rural bank to offer ATM service in the Philippines is the Rural Bank of Silang in Cavite which utilized ATM Connect.

In Mindanao, the Community Rural Bank of Dapitan City has the distinction of being the first to offer ATM service in the South. A dozen or so rural banks are expected to install ATM Connect in the next few months and will be announcing their respective ‘firsts.’

But Infoserve director for business development for thrift and rural banks Lawrence Sanchez has warned the public againsts pirated copies of the software, developed allegedly by former employees who have been severed from the company and are suspected to have stole programs or intellectual properties of Infoserve.

"These people are copycats and software pirates out to mislead the industry, and claiming what is rightfully Infoserve’s pioneering innovation," Sanchez said.

He added that the boldness of some people to copy outright or steal intellectual property reflects a weak implementation of intellectual property rights in the country. Infoserve has already alerted the authorities on the matter.