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Bank of Philippine Islands Launches Secure File Transfer Service Built on Sterling Commerce SolutionCOLUMBUS, Ohio --(Business Wire)-- Sterling Commerce, an AT&T Inc. (NYSE:T) subsidiary, today announced The Bank of Philippine Islands (BPI) launched a secure file transfer service to streamline a file-based delivery channel between its customers' financial and treasury systems and BPI. The new service is built on Connect:Direct(R), the Sterling Commerce point-to-point file transfer software optimized for high-volume, assured data delivery of files within and between enterprises. Sterling Commerce not only extends greater operational efficiency to BPI, but also provides the predictability and management necessary for the successful movement of an ever increasing number of files moved both inside and outside of the organization, leading to improved customer satisfaction and growth. "As the second-largest Philippine commercial bank with more than 900 branches and 6,000 cash management customers across the Philippines, it is imperative we provide a secure channel to transfer files within our bank as well as to our customers," said Ma-an Calilong, channel manager, BPI. "With straight-through processing (STP) becoming a treasury best practice, we wanted to cater to customers' needs for a more streamlined and secure process. "Connect:Direct is the backbone of our file transfer foundation and provides us with the ability to integrate with our customers' systems and receive real-time information securely. It also enables us to rapidly identify and resolve transfer issues to meet service agreements, thus providing our customers with a higher level of service, and ultimately, a better experience with the bank," added Calilong. Deployed by reseller ITAC, this service recently went live with one of BPI's customers, a multinational company in the manufacturing industry. The bank expects more than 10 customers to leverage this service by the end of 2008. Target users belong to the multinational and top-tier local company segments that are ready for STP. "Connect:Direct is used in the top 10 banks worldwide to provide secure, predictable and reliable movement of high-value, mission-critical files. BPI is leveraging Sterling Commerce's market leading solutions to ensure it is able to meet its customers' expectations and deliver higher levels of service," said Michael Coyle, vice president, global product line, Managed File Transfer, for Sterling Commerce. "BPI's use of Connect:Direct gives it a strong competitive advantage in STP. We are excited by the partnership that has been established between Bank of Philippine Islands and Sterling Commerce." Prior to the implementation of the file transfer service, BPI's customers exchanged bank statement and funds transfer data electronically. However, there were still points in the processes that required manual intervention, resulting in the administration of additional systems. Initially intended for internal purposes, BPI managed to build on the capability of Connect:Direct to develop a file transfer service for its customers, thus positioning itself as a leading provider of STP solutions in the banking industry in the Philippines. Aside from the revenue generated from set-up fees, BPI also will be able to integrate itself in the client's cash management processes and subsequently be part of the client's overall transactions. BPI recently was awarded "Best in Operational Processes (Cash Management)" in the recent 2007 Financial Innovation Awards for this secure file transfer service. The 2007 Financial Insights Innovation Awards is organized by Financial Insights, a leading independent research and advisory firm under IDC, in recognition of the most innovative use of information technology by financial institutions in the Asia Pacific region. According to Michael Araneta, senior research manager, Financial Insights, "Banks across Asia Pacific are constantly looking for new ways to leverage technology to drive improved security and customer service. BPI is a great example of that - through the use of Connect:Direct, they were able to build a competitive advantage in cash management in the Philippines." About Sterling Managed File Transfer Sterling Managed File Transfer removes the barriers of traditional file transfer protocol (FTP) and enables organizations to deliver higher levels of service, manage growth, and remove the risk of security breaches for all file transfers. Products include Connect, Connect:Enterprise, Connect:Express, Sterling Control Center and Sterling Secure Proxy for safely leveraging the Internet to replace dedicated lines. Connect:Direct is the industry-leading solution worldwide for assured, secure delivery of files, especially in the demanding financial services and telecommunications industries. About Sterling Commerce Sterling Commerce, a subsidiary of AT&T Inc. (NYSE:T), helps 80 percent of the FORTUNE(R) 500 thrive in a global economy by solving complex business process challenges. The company's innovative software and services integrate customers' systems - inside and outside the four walls of the enterprise - so companies can conduct business without borders. Sterling Commerce solutions help customers adopt best practices in e-sales, supply chain execution, payment processing and business-to-business integration. The solutions also give executives and front-line managers greater visibility inside and outside the enterprise in order to improve profitability, reduce costs and minimize risk. Sterling Commerce enables businesses to innovate key processes in real time, while continuing to deploy ERP or transaction system infrastructures. With more than 30,000 customers worldwide, Sterling Commerce has unparalleled experience in retail, consumer packaged goods, manufacturing, financial services, supply chain, logistics, and telecommunications. More information on Sterling Commerce can be found at www.sterlingcommerce.com. |
