The First Consolidated Bank and Channel Solutions, Inc. signed a memorandum of undertaking toward setting up Automated Tellering Machine (ATM) and Point of Sales (POS) facilities.
N. Tolentino Gallares, vice president for support services of the bank, and Manuel Bagatsing, president of Channel Solution, Inc., signed this week the memorandum of undertaking in behalf of the bank and Channel Solutions, Inc., respectively.
Channel Solutions, Inc, one of the leaders of Integrated Financial Solutions, will supply FCB with the software of both ATM and POS.
Under the terms of the undertaking, FCB will purchase the ATM/POS solution, a licensed computer software, from Channel Solutions. The undertaking covers all FCB branches in Bohol and expandable to cover all branches and off site locations.
Channel Solutions will provide professional services, such as detailed installation project plan, implementation and customization services, and systems integration.
Channel Solution will orient and train FCB personnel on how to use the software and sit up the ATM/POS machines.
FCB will source out the ATMs and POS from Channel and other suppliers both locally and abroad.
FCB will install ATMs in its branches in Bohol and about 200 POS in different business establishments in the province. FCB has the most extensive branch network in Bohol with 21 branches. The ATMs will be operational by June 2008.
Gallares said with the operation of ATMs and POS system, depositors of FCB including pensioners can now have easy and fast access of their funds and can purchase retail goods from major merchants in Bohol without using cash.
- The Bohol Chronicle
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