We have chosen Alaric, as the performance, flexibility and agility of their systems is far superior to anything else available in this sector
Kuala Lumpur 13th December 2012 – Alaric International (www.alaric.com), a global provider of fraud prevention and payment systems today announced that it has signed a partnership agreement with Channel Group (www.channelgroup.net) of the Philippines. Under the terms of the agreement, Channel Group will resell Alaric’s acclaimed Authentic payment and Fractals fraud prevention systems to its client base in the banking sector. Partnering with Channel Group further strengthens Alaric’s continued growth in APAC.
Commenting on the news Channel Group’s Managing Director Wally Sandoval said, “We have chosen Alaric, as the performance, flexibility and agility of their systems is far superior to anything else available in this sector. The time is right to introduce this new generation of switching and fraud detection products to the market here. This doesn’t just give the Philippines a chance to move away from aging legacy systems but rather to leap forwards technologically, by offering standards-based solutions with an extremely modern feature set.
“We are aware that several banks in the region are poised to make decisions on a major technology refresh in the next couple of years. With our extremely close relationship with these institutions we are confident that there will be strong demand for Alaric’s products.”
For his part Alaric International Director Paul Griffin added, “The Philippines has some highly innovative ideas, particularly in the convergence of banking and mobile technology. However, the region suffers from an ageing infrastructure which is in desperate need of replacement. Overall the Philippines has had a poor experience of ‘low cost’ solutions and many banks have moved to outsourced alternatives simply out of frustration.
“Channel Group has built an excellent reputation in the sector but were keen to be able to recommend modern payment and fraud prevention solutions. By partnering with Alaric, they are confident that they can now take a message to these banks that running your own switch can be cost-effective. It is also the only route to establishing differentiation and for keeping up with the constant churn of innovations in retail banking. We look forward to working closely with them as they educate their clients further.”
About Alaric (www.alaric.com)
Alaric is a leading global supplier of fraud prevention and payments solutions. Our solutions encompass mobile payments, ATM and POS driving, payments switching, complex multi-channel payments integration and enterprise fraud and risk management systems.
Alaric is very different from other vendors – we believe in client empowerment, not vendor lock-in, and our solutions empower our clients to take strategic control of their systems investments. They are designed to be rapidly customisable by our clients or their chosen outsourcers, in most instances without programming and without needing to involve Alaric.
Our clients get the best of both worlds – they have an unprecedented degree of control over their customized solutions and freedom from vendor lock-in while retaining all the benefits and economies of using standard product-based solutions.
About Channel (www.channelgroup.net)
The Channel Group of Companies was one of the pioneers in the Philippines in providing third party maintenance services for banking equipment covering ATMs, telling equipment and passbook printers leading to partnerships with leading manufacturers such as Verifone, for selling and service EFT/POS terminals, and Thales for their HSM products. The company has used its expertise to develop a software services business for a range of card payment systems including ATM switching and cash card and loyalty card management.
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