Fraud prevention and payment systems group Alaric International has signed a partnership agreement with Channel Group of the Philippines, under which the latter will re-sell Alaric’s authentic payment and fractals fraud prevention systems to its client base in the banking sector.
“The time is right to introduce this new generation of switching and fraud detection products to the market here,” said Wally Sandoval, managing director for Channel Group. “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.”
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.