OMNIBUS is the name of the independent association of member banks and institutions that will operate and manage the central switch. As a first step, OMNIBUS integrates the ATM & POS networks of BRAC Bank and Q-Cash, enabling cardholders of BRAC Bank and QCash member banks to access their accounts from any of the 150+ ATMs and 1,200+ POS terminals. OMNIBUS is modeled around success of 1-Link in Pakistan and TPS has played an instrumental role in terms of technology transfer and adoption of best practices.
OMNIBUS is powered by TPS flagship switching solution, Phoenix. Phoenix is also the technology behind the first & largest shared inter-bank switch of Pakistan, 1LINK, that integrates 27 banks of the country.
The shared ATM/POS switch offers significant convenience to customers of its member banks through greater transaction touch points, providing anytime, anywhere banking. This instant increase in the number of ATMs & POS terminals for the customers to use their cards on, not only gives the cost advantage to the bank, it improves operational efficiency and customer services.
OMNIBUS is expected to work as a catalyst for the growth of e-Banking in Bangladesh. This sets a solid foundation that will pave way for the introduction of more and more value-added services like utility payments, fund transfers, loan repayments etc on electronic channels. âBRAC Bank Ltd, Bangladesh is proud to have TPS Pakistan (Pvt ) Ltd behind it as its key technology partner in its alternate delivery channel proliferation strategy. BRAC Bank's proprietary ATM network, launched in 2005, is driven by Phoenix and more recently, TPS has also provided the inter bank switching solution for the OMNIBUS shared ATM network sponsored by BRAC Bank. What differentiates TPS from other technology partners is that it is a forward looking and agile institution who have not only held our hand during these critical technology implementations but also shared freely of their vast repertoire of knowledge in this area.â Said Mr. Kaiser Tamiz Amin, Deputy Managing Director & Chief Operations Officer, BRAC Bank Ltd.