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COMPASS PLUS EXPANDS ITS PRESENCE IN SOUTH EAST ASIA WITH BANK TABUNGAN PENSIUNAN NASIONAL

Published by Gbaf News

Posted on July 11, 2014

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Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions, has announced its first customer in Indonesia. The company, together with PT Infogram Telemedia as Compass Plus’ distributor for Indonesia, has completed an e-channel switching project for Bank Tabungan Pensiunan Nasional (BTPN). BTPN, Indonesia’s leading commercial bank, chose to migrate its legacy switch and card processing platform to the TranzWare product suite from Compass Plus, enabling BTPN to offer a full range of modern banking services to its customers.

The first phase of the project, which went live in April 2014, saw the bank implement a range of products to support their magstripe card issuing, ATM management and card personalisation. BTPN has also migrated local ATM shared network connections with PRIMA and BERSAMA as part of the scope of the project. The second phase will see the bank issue EMV cards to its customers following Central Bank of Indonesia’s regulation to comply with the NSICCS (National Standard Indonesia Chip Card Specification) by the end of 2015.

Kharim Siregar, IT Director at BTPN, explained: “Part of the BTPN IT strategy is to build capability on e-channel and be ready for high volume transactions to support retail banking initiatives. After a thorough solution selection process, the bank decided to implement ATM switching using TranzWare from Compass Plus, as, in our view, it is the best that met with the bank’s requirements. We went live with TranzWare in April 2014 after a six month implementation period. We are very pleased with the overall implementation and appreciate Compass Plus and Infogram Telemedia, as the local partner, for their commitment and contribution on this successful implementation.”