Banking Production Centre (BPC), a leading electronic payments and e-business solutions provider and system integrator, has announced that the Security Bank Corporation (SBC) has gone live after the first phase implementation of SmartVista Suite, an IT-based solution that provides single and combined platforms to process local and international credit and debit cards.
The first phase of setting-up Security Bank’s in-house processing center was the installation of the SmartVista transaction switching system (SmartVista Front-End), which enabled the bank to use the SmartVista software to drive its expanding network of ATMs and Internet merchants, and support mobile banking.
Following the certification of SmartVista solution with BancNet’s payment scheme, BPC has migrated all ATM cards into the new system, which should eventually improve Security Bank’s efficiency by consolidating its transactions from multiple channels and payment networks through a single system. “The solution enables Security Bank ATM cardholders to use their ATMs further than just for the common ATM functionalities. SmartVista will eventually transform their ATMs into complete financial machines for the Bank’s ATM and credit cards products,” Daniel Yu, Security Bank first vice-president and head of Information Technology Group, said.
SmartVista brings down the cost of card operation through fewer running platforms and tedious maintenance and upgrades, translating to improved profitability for the Bank and better service for customers.
“Our relationship with Security Bank represents a significant entry into Asia Pacific financial services marketplace and has opened existing opportunities for us in the region,” Alexey
Demidov, chief operating officer of BPC International said.
“In today’s complex banking environment, Security Bank’s requirements for the card processing and management systems that are able to address both traditional and emerging forms of financial services are essential. SmartVista solution is designed to integrate the Bank’s diverse processing architecture into a single platform, while providing flexibility and potential to add emerging technologies like
EMV-compliant cards,” Domidov added.
Subsequent phases of the SmartVista implementation for Security Bank include: integration of credit and debit cash switch and management functionality, unifying the bank’s acquiring and issuing functionality and providing full acquiring and issuing of MasterCard and Diners Club card products, including M/Chip cards.
Security Bank is among the top ten banks in the country, with total assets of P75 billion and P10 billion in capital funds. It also has one of the lowest non-performing loan
(NPL) ratio of 7.6 percent, much lower than the industry’s average of 14 percent.
“With the bottoming out of the economic slump and the anticipated improvement in business prospects, the bank has now shifted emphasis to gearing up for the future by getting top banking professionals and using new technology to improve business building and generate better value for our shareholders,” Yu said. |
