ALTO (interbank network)
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In 1980, the automated teller machine (ATM) was introduced to Indonesia, providing cardholders with around the clock banking services for the first time. Within a few years, many Indonesian banks had followed suit. The country's sole financial network provider at the time primarily serviced the central government, which prompted the formation of the ALTO shared network, with the support of its founding members: Bank Lippo (subsidiary of Bank Niaga), Bank Bali, and Bank International Indonesia (subsidiary of Bank Negara Indonesia). Utilizing methods and technologies similar to those employed by global giants MasterCard and Visa, ALTO finalized its structure and process 1993 and began commercial operations in August of the following year, with approximately 180 ATMs plugged into its network. In September 1994, a banker's conference was convened to introduce the network to local industry leaders. The response was tremendous, and, within a year, ALTO took on an additional 11 members, bringing the total number of member banks to 14.
The Asian economic crisis of 1997 hit the banking industry with a vengeance, forcing many financial institutions to close their doors, merge, or be recapitalized. Yet, despite the global recession, ALTO retained 9 of its 14 member banks, remained profitable, and, today, is an industry leader, with assets totaling IDR 40.8 billion as of December 2001.
Members of ALTO include Bank Artha Graha, Bank Bukopin, Bank Danamon, Bank Ekonomi, Rabobank Indonesia, Bank Hana, Bank Harda, Bank International Indonesia Maybank, Bank Nusantara Parahyangan, Bank Panin, Bank Permata, BPR Eka Bumi Artha, and Citibank Indonesia.