Magazine article American Banker

GTE Equipping Mexican Satellite Link

Magazine article American Banker

GTE Equipping Mexican Satellite Link

Article excerpt

GTE Spacenet Corp. has been awarded a contract to provide equipment for a satellite communications network being built for a Mexican bank.

The GTE deal involves providing satellite communications equipment to Redes via Satellite also known as Redsat, a Mexico City-based provider of telecommunications services.

Redsat will be putting in the network to provide communications service to its customer, Banco Nacional de Comercio Interior, known as Bancomext.

Bancomext, a major domestic banking association, will use the network, in conjunction with Mexico's Solidaridad I satellite, for data transmission between its 180 branches spread throughout Mexico.

Specific terms of the agreement were not disclosed.

The agrrement marks the first time that the Skystar network will be used by a banking service in Mexico, GTE officials said. The network, scheduled to be completed this year, will benefit Banco National's customers by providing faster response times and more reliable transactions. The bank currently uses land lines to transmit 80,000 pages of faxes each day among its branches. Typically, a call must be placed to confirm receipt of each fax.

Once implemented, the Skystar Plus network will enable banks to transmit clear faxes, without the need for follow-up confirmation calls. The network also has voice capability as a backup to land lines.

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In an effort to improve network service quality, several large U.S. banks - including First Union Corp. …

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