News

ECS to enable fast ATM fleet expansion for AB Bank

July 23, 2013

ElectraCard Services, a provider of software solutions and processing services for electronic payment systems, has announced that AB Bank, the first private sector bank in Bangladesh, has chosen ECS electraiTx series — the latest version of the electra payment suite — to run their ATM network and process credit and debit cards. ECS has provided AB Bank with their PA-DSS certified electraSwitch, electraDebit and electraCredit solutions from the product suite.

The electra iTx series platform is a next generation PA-DSS certified secure transaction platform, built from the ground-up on open standards and industry best-practices to support the service oriented architectures that are fast becoming the technology backbone of today’s leading organizations. This platform drastically reduces the time to market for integration and to roll out new services, the company said in a news release.

AB Bank operates a network of 230 ATMs in Bangladesh; the FI plans to rapidly expand its services and double its ATM card base by 2015. The electra solutions will enable the bank to seamlessly integrate with leading payment associations such as VISA and MasterCard, said a news release from ECS. This will be the first launch by AB Bank of consumer credit cards.

ElectraSwitch also will be implemented to manage switching solutions for the Cashlink Bangladesh Limited Network, which is managed by AB Bank. Bangladesh's leading banks form a part of the CBL network, which is currently used by major local banks as a shared network for ATM switchingm as well as a managed service provider. With the ECS product solutions, AB Bank will be able to grow their network, increase the number of ATMs and cardholders.

"We were in need of a platform that was highly scalable and flexible which could be implemented quickly and meet our specifications," said Reazul Islam, head of eBiz and IT at AB Bank. We chose ECS because they have proven installations across the globe and a faster go-to-market strategy that fits into our expectations. The product is extremely user friendly and easy to adapt to. We are confident that our partnership with ECS is in tandem with our business objectives."

"We are pleased to be associated with AB Bank — a pioneer in the Bangladesh banking industry," said Ramesh Mengawade, CEO of ElectraCard Services. "AB Bank has always been successfully implementing new and innovative ideas in the country. ECS will provide them with the technology solution necessary to help take Bangladesh to becoming a cashless society."

Read more about software.