The move to Internet protocol allows BACS
to use the latest proven security, particularly in the areas of user identity verification, data integrity and increased privacy measures.
Peter Fortune, President of Bottomline Technologies Europe said, "We are excited about our relationship with Omikron and look forward to working with our European partners on this BACS
service, as well as other initiatives we are exploring to streamline our customers' international payments and cash management needs.
Cheshire County Council is a great example of the broader business benefits associated with migrating to the new BACS
payments standard," said Peter Fortune, President of Bottomline Technologies Europe.
Bottomline's BACSTEL-IP solutions are capable of providing extensive payment capabilities to businesses of all sizes and have been approved by BACS
Our QuickBooks 2005 customers gain many advantages from this partnership with Bottomline, including the business efficiency and reduced cost of processing payments via BACS
Bottomline's range of software approved by BACS
and recommended by all the major UK Banks provides extensive payment capabilities for any size company using BACS
Bottomline Technologies is working with the major banks in the UK and BACS
to help migrate the 50,000 BACS
users to the new BACSTEL-IP standard before the BACSTEL service is switched off at the end of 2005.
It also allows Bottomline to reach businesses that make payments indirectly to BACS
through third parties.
Limited, the UK's clearing house for electronic payments,
AssureTransaction will provide real-time verification of the PKI (Public Key Infrastructure) smart card identities, issued to users by the UK banks, and check the digital signatures on all payment files submitted to BACS
Borland Software Corporation (Nasdaq NM: BORL) announced today that BACS
Limited, one of the world's largest clearing houses, is using Borland(R) technology for Java(TM) as part of `NewBACS', a five-year technology renewal program to upgrade BACS
' existing technology infrastructure from being a mainframe-based processing model to a Java application server and Internet protocol.