As the first bank in the Philippines to use cloud based core banking technology, Cantilan Bank has positioned itself at the front and center of digitization in banking. Recently, the bank achieved another milestone by establishing a secure cloud based connection to BancNet, the country’s single ATM switch operator. Cantilan Bank’s goal for doing this was to raise the quality of rural banking in the Philippines and to promote financial inclusion. And they achieved just that.
Challenge
- Dependent on an expensive IP/VPN network with no redundancy across its 46 branches in 12 provinces.
- Inability to manage IP/VPN router efficiently and effectively led to limited bandwidth and slow speeds across their network.
- Meet BancNet’s network security requirement standards.
- Eliminate single point of failure.
- Address latency issues.
Solution
With branches lacking an active connection and even the ability to send text messages while indoors, Cantilan Bank knew they had to invest in network connectivity to improve their services. Working with NextLogic Distribution, Ms. Tanya Hotchkiss, Executive Vice President of Cantilan Bank, led the deployment of SD-WAN connections across all 46 of their branches and connected them to cloud servers. Connecting to the cloud servers via SD-WAN resulted in faster access to applications through combined bandwidth. This also ensured session integrity and persistence even in the event WAN connections break. SD-WAN delivers increased network agility at a cost reduction while still providing unbreakable connection and unmatched deployment flexibility, unlike traditional WANs.
Result
The quality of rural banking was significantly improved due to fast and stable connections. In addition, a new milestone was achieved by Cantilan Bank as the pioneer in taking cloud based banking to the next level. They did this by establishing cloud based SD-WAN to ensure secure connectivity to their cloud based SaaS and then successfully connecting it to the BancNet network. Switching to SD-WAN has brought many benefits to their banking operations and their overall digital journey. They keep moving forward by taking on the challenge of extending SD-WAN to the cloud to address cloud banking challenges. It must be recognised that digitisation is now touching more economic sectors worldwide. Many firms realize the need to take advantage of new technologies and processes in order to better serve the ever changing needs of their clients and to preserve the relevance of their products and services.
Deployment
- Deployed at the datacenter in HA mode
- IPsec VPN over MPLS/IPVPN
- With bonded fail-over option
- Deployed at all branches
- Mixing commodity connections for resilience and large savings
- Flexibility for deployment at ATMs
- Quick and easy to set up
- High security with SpeedFusion or SpeedFusion VPN encrypted
