Philippine National Bank (PNB) has selected FIS, a banking and payments technology company, to deploy its core banking solution and electronic funds transfer (EFT) switching solution in a fully managed services model.
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The agreement will expand FIS’ presence and outsourcing capabilities in the Philippines while it will benefit the bank with increased productivity and lower cost of operations.
The system will allow PNB to maintain regulatory compliance while EFT processing capabilities of FIS’ CONNEX payments platform will provide the bank with a flexible and scalable system to meet changing business needs and opportunities.
Under the multi-year agreement, FIS will manage the ATM switching environment, including the complete hardware environment and application software with application management, operations and FIS specialists at PNB’s data centre operating on a 24×7 basis.
FIS executive vice president of international financial institutions Raja Gopalakrishnan said: "Coupled with a compelling outsourcing strategy, PNB will now be able to deliver tangible outcomes in operational efficiencies and cost management, while preparing itself for further success in the future."
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