Thursday, August 25, 2005
IT company to set up rural bank Internet link
A Cebu-based company is initiating an Internet-based project that will link rural banks all over the country to each other, as well as, to government agencies and commercial institutions.
Julius Bagsican, senior manager of RuralNet Inc. (RuralNet), said RuralNet, which will be launched next month, would provide a secure and powerful electronic exchange between rural banks.
The company will also partner with government agencies and commercial institutions, such as insurance companies and utility companies, that want to get rural banks as their collecting agents in the countryside.
“RuralNet aims to help address the clamor of the people in the countryside for the government to give them more attention, aside from increasing the income potentials of rural banks through their partnership with commercial institutions,” he told Sun.Star Cebu.
“Rural banks are often the only respected and regulated financial institutions in the countryside. They have always been at the forefront of trust and business leadership in their communities,” a statement from RuralNet said. “RuralNet will enhance interaction and relationships among rural banks, their federations, the Rural Bankers Association of the Philippines and agencies such as the Bangko Sentral ng Pilipinas and the Philippine Deposit Insurance Corp.”
Bagsican said RuralNet would connect rural banks in Cebu province initially. But it will extend its services to rural banks all over the country once it has done with the pilot province. (JBN)
(August 25, 2005 issue)
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