ATM interconnection services

MEMORANDUM NO. M-2007-010

To:   All Thrift Banks, Rural Banks and Cooperative Banks

Subject :      ATM interconnection services

Please be advised that the “sponsoring bank arrangement” is considered an extension of the sponsored banks information technology processes and is an outsourcing activity that needs prior Bangko Sentral ng Pilipinas approval under Subsection X169.2 of the Manual of Regulations for Banks.

A “sponsoring bank arrangement” is one where a bank which is not a member of any ATM network consortium but wishes to provide ATM services and terminals is “sponsored” by a member-bank of any of the existing ATM consortium.

For information and guidance.

MA. DOLORES B. YUVIENCO Sector-in-Charge