ALTO (interbank network)

ALTO

Operating area	Indonesia
Founded	1994
Owner	PT ALTO Network

ALTO is an interbank network in Indonesia. It was founded in 1994.

History

In 1997, Asian Economic Crisis invaded Indonesian banking industry. Many banks closed, merged or recapitalized. It's ALTO that is still stand out with 9 other network powered bank members.

In 2003, ALTO started ATM Acquiring business that gives banking solutions to do procurement of ATM. ALTO provides ATM procurement anywhere and for any business units. From national bank, international bank, BPR, cooperation, to factory. With simple terms and condition, and also low investment costs, ALTO provides complete networking system and periodic ATM maintenance to maintain transaction cosines on the ATM.

2007, ALTO expanded the business to Money Transfer Operation. In 2009, ALTO developed Mobile Air Time Top Up for all telecommunication provider in Indonesia. From time to time, ALTO never stop innovate the business. The newest business start up from ALTO is Boston School of Banking and Finance, which focused in education for the future banking employers. The other start up is a payment service named ALTO Cash.

November 2013, ALTO made a joint venture with Seven Bank, who is a Japanese ATM network, named PT. ATM. The goal is to developing ATM business in Indonesia.

Timeline

1994 – Shared ATM Network
2004 – ATM Acquiring
2007 – Money Transfer Operation
2009 – Biller, Top Up Mobile
2011 – Front End Processing Switching Outsourcing
2011 – NSICCS Function Lab 2012
2011 – Core Banking Outsourcing
2011 – Alto Cash and ARMS (Mobile Wallet)
2011 – Boston School of Banking and Finance
2012 – SMS Banking
2013 – Tanamas System
2013 – EDC
2013 - Set Up PT CBI with PT RINTIS and PT ARTAJASA
2013 – Remittance Outward
2014 – Alto Pay
2015 - PCI-DSS Compliant (Coming Soon)

Products

Outsourcing Core Banking Application
Outsourcing Switching Application
ATM Outsourcing
ALTO Cash
Biller Gateway
Remittance (Cash to Account or Account to Cash)

Definition of Member, Partner, and Merchant in ALTO Network

The members in ALTO Network are every financial institution or bank which registered as member in ALTO Network. The membership is open for all Bank Indonesia clearing participant.
The partners in ALTO Network are every companies which provide biller service and delivery channel service owner.
The merchants in ALTO Network are every business entity or individual which participated in Debt Card Service Facility utilization and incorporated in ALTO Network.

Benefits for Members

Expanding Bank Outreach Members in a short time. By joining ALTO Network, the customers from the member (bank) are able to do transaction in ATM Terminal, EDC, and any other Delivery Channel that belonged to another member, partner, and merchant that connected to ALTO Network.
Low Investment and Operational Cost. To reach a wide Delivery Channel network, members must invest some cost. In ALTO Network, investment and operational cost are able to be lower.
Revenue for Bank ATM terminal owner, EDC, and any other Delivery Channel. Bank ATM terminal owner, EDC, and Delivery Channel will earn revenue for the use of ATM terminal, EDC, and Delivery Channel by customers from another bank members. The more transactions done in the ATM terminal, EDC, and Delivery Channel, the more revenue will be earn.

Benefits for Partners as Biller Service Provider

Increase Sales. For Partners who incorporated by ALTO Network, range of payment transactions on the products offered will be expanded so that it will increase sales.

Benefits for Partners as Delivery Channel Service Provider

Revenue for Bank ATM terminal owner, EDC, and any other Delivery Channel. ATM terminal owner, EDC, and Delivery Channel will earn revenue for the use of ATM terminal, EDC, and Delivery Channel by customers from another bank members. The more transactions done in the ATM terminal, EDC, and Delivery Channel, the more revenue will be earn.

Benefits for Merchants

Simplify the transaction process. Transaction process in Merchant will be easier and more secure if the merchant itself joins ALTO Network. The transaction payment will be credited directly to merchant's account.
Increase Sales. With the easier and the more practical payment method, Merchant will be able to increase product sales.

Members

Bank Permata,
Bank Internasional Indonesia,
Bank Danamon,
Bank Panin,
Bank Artha Graha,
Bank Prima Master
Bank BNP
Bank Harda International,
Citibank Indonesia
Hana Bank
Sinarmas Bank
Bank Kesejahteraan Ekonomi
BPR KS
Bank Tabungan Negara
Bank CNB
DBS Bank
BPR Eka Bumi Artha
Bank SBI Indonesia
BPR Lasem

Non Bank Member

KSP Intidana
PT. Finnet Indonesia (subsidiary of Telkom Indonesia)
PT. Indosat Tbk. (known as Indosat-Ooredoo)

References

Yellow Pages Indonesia
(Indonesian) CBI Siapkan Sertifikasi Kartu ATM Debet Berbasis Chip

External links

(Indonesian) ALTO Network Official Website

Interbank networks by region

Worldwide	Cirrus Plus

Africa	123 Multicaixa

Asia	1LINK ALTO atm⁵ ATM Bersama BancNet Banks ATM Network and Customer Services The Benefit Company Cashnet CashTree China UnionPay Dutch Bangla Bank Nexus Encash Network Service Electronic Payment Services (EPS) Expressnet EZ-Link JETCO LankaPay Link MEPS MEPS+ MegaLink MITR ATM Sharing Network MNET National Financial Switch Nationlink NETS PRIMA/ATM BCA RuPay Saudi Payments Network Shetab Banking System SLIPS Treats/ATM BNI Yucho

Europe	4B Allied Irish Banks Banklink Eufiserv Euro 6000 Euronet Worldwide Girocard Bankcard-Servicenetz Cash Group CashPool Groupement des Cartes Bancaires CB LINK Multibanco Otto. Sbercard Servired Single Euro Payments Area VocaLink Zolotaya Korona

North America	Abby Accel Acculink Alberta Regional Network Alert Allpoint Armed Forces Financial Network ATH BankMate Cactus CarIFS Cash Station CO-OP Financial Services Discover Network Explore Honor Interac Interlink Jeanie Money Access Center MoneyPass MOST NYCE Presto! Pulse SHAZAM STAR SUM TYME Via

Oceania	EFTPOS

South America	Banco 24 Horas Banelco Banred GlobalNet Redbanc Suiche7B

Book Category

This article is issued from Wikipedia - version of the 3/1/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.