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Thursday, March 16, 2006
PLDT helps group set up e-network
The Rural Bank Association of the Philippines (Rbap) has partnered with the Philippine Long Distance Telephone Co. (PLDT) WeRoam wireless broadband service to implement Ruralnet.
Ruralnet is an electronic gateway to the countryside that aims to tap the vast network of rural banks across the country and connect them not only with the frontline services of government but also with private companies.
Network
According to a statement, Ruralnet installs in the offices of partner banks computers connected via a virtual private network using PLDT WeRoam. This connects the transaction engines of all Ruralnet partner institutions.
Ruralnet aggregates the transactions done by the public through the rural banks and passes it on to the service partner — either a government agency or a private company — which then acts on the transaction.
For national government institutions, Ruralnet is an access point when it comes to handling sensitive documents and money since often, rural banks are the only accredited financial institutions in far-flung areas.
Rbap former president Daniel Arcenas said Ruralnet is not designed to supplant existing systems, but merely to provide alternative access point for people in the countryside.
“This is what is needed in these towns. The cities have more alternatives,” he said. (JBN)
For Bisaya stories from Cebu. Click here. (March 16, 2006 issue)
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