Peru's Interbank in $4.26 Million Services Agreement With IBM

Leading Peruvian private bank Interbank has selected IBM to provide services that will increase its automatic teller machine network by roughly 38 percent.

Under the $4.26 million agreement signed in May, IBM will install, configure and maintain 265 new ATMs. Interbank owns the largest ATM network in Peru, with IBM as its service provider since 2002.

The new ATMs will accept both the Nuevo Sol (the new Peruvian currency) and the U.S. dollar. The additional ATMs also will reduce waiting on line for customers by allowing them to conduct transactions such as getting cash, making deposits and paying the bills without visiting a bank branch.

With the addition of these ATMs, Interbank estimates that more than 70 percent of its customer transactions will be conducted via electronic banking (including banking via the Internet, phone banking and ATMs), increasing efficiency and customer convenience while reducing costs.

About Interbank

Based in Lima and founded in 1897, Interbank is one of the Peru's leading private commercial banks, with $2.3 billion dollars in assets and offers services through a network of 111 branches, 701 ATMs, and 600 retail locations such as pharmacies, bookstores, etc. nationwide.