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Bacolod City, PhilippinesSaturday, June 9, 2007
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BancNet, Nationlink sign
pact for interconnection

Bancnet and Infoserve, operator of the Nationlink Network, signed on Thursday the Memorandum of Agreement for the interconnection of Bancnet and Nationlink, the official industry network for thrift and rural banks, credit and savings cooperatives, and microfinance institutions, a press release from the groups said.

The interconnection is seen to bring the countryside to mainstream banking and spur economic development in rural areas.

Officials who signed the agreement were BancNet president Francisco Caparros Jr., chairman Angelito M. Villanueva, Infoserve president and CEO Zoilo Jesus dela Cruz III and AUB SVP Rojo Fernandez.

Nationlink is the only ATM Network to be approved and officially signed up for interconnection by BancNet this year. Other interconnected networks with BancNet are China Union Pay, ExpressNet and Megalink, the press release added.*

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