UNIONBANK of the Philippines has invested P300 million for the implementation of various initiatives in information technology to further scale up its level of competitiveness in the banking industry.

The bank tapped the services of Filipino firm Total Information Management Corp. (TIM) for the supply, implementation, and integration of high-powered servers, high-capacity storage platforms with remote data replication capability, and a full 24/7 high-availability ATM switch server.

TIM will make available to the bank one of the most sophisticated IT infrastructure that provides the highest level of 24/7 availability for mission-critical banking systems in the country today.

“TIM was truly challenged having been given the mission of building UnionBank’s world-class IT infrastructure with business resiliency that ensures constant uptime, even in the face of unforeseen events. The right mix of multithreading processors, disaster-proof disks and high availability and fail-safe ATM server provided us the opportunity to take UnionBank to new heights in banking leadership,” TIM president Jose Mari Antunez said in a statement.

UnionBank is a partnership among the Aboitiz Group, Insular Life and Social Security System. Established in 1981, it has since put technology at the heart of its business. Today, multiple channels are available for transaction and information access through its 181 branches, 214 ATMs, five in-store kiosks, a call center and an Internet bank.

US-based PeopleSupport Inc., a leading offshore business process outsourcing (BPO) provider, has refused the acquisition bid of IPVG Corp. and AO Capital Partners saying the unsolicited offer “is inadequate and fails to take into account its strategic value and success in implementing its growth strategy.”

PLDT Global eyes partnerships overseas

PLDT Global Corp. (PGC), the international sales and marketing arm of Philippine Long Distance Telephone Co.  (PLDT) Group, will forge partnerships with mobile phone operators in Italy and Macau next year.

MEGAWORLD Corp., the listed property unit controlled by businessman Andrew L. Tan has renamed its controversial and latest residential project in Makati City from The Trumps to One Central, but said that it is not waiving its right to the brand.

UNIONBANK of the Philippines has invested P300 million for the implementation of various initiatives in information technology to further scale up its level of competitiveness in the banking industry.

PHILIPPINE stocks Thursday rose, led by Bank of the Philippine Islands, also known as BPI, on speculation a cash infusion by the Federal Reserve and four other central banks into the financial system will stabilize credit markets.

Hybrid rice production took a backseat as the sole Philippine seed producer SL Agritech founded by Henry Lim Bon Liong focuses on exports to other Asian countries like Bangladesh.