UPSL will become part of the Kohler Power Systems business, which manufactures generator sets up to 2800 kW, automatic transfer switches, controls, switchgear and generator packaging options.
UPSL co-founder and managing director, David Bond, will continue to lead the company and report to Mr.
The outsourcing of back-office processes to UPSL enables BankWest to divert a greater proportion of internal IT and management resources to areas of its business that deliver revenue growth and competitive advantage.
BankWest Director Processing and Operations Selina Duncalf said that BankWest had outsourced its cheque processing and image archiving services to UPSL because it provided a number of benefits especially in the areas of cost and technology.
The extension to our current agreement demonstrates that BankWest has a strong relationship with UPSL, which continues to deliver benefits and opportunities for the future," Ms Duncalf said.
Once the Westpac check processing volumes have been transitioned, UPSL will process around 35% of all Australian checks.
UPSL will process around 150 million Westpac checks in the first year.
UPSL processes the checks presented by customers at post offices around Australia.
Under the agreement, UPSL will handle all Girobank's document processing requirements from receipt at Girobank to settlement.
By transferring its document processing operations to UPSL, Girobank will be better able to concentrate on continuing to develop its broad range of business banking services.
UPSL utilizes state-of-the-art Unisys payment processing systems, which are already used by Girobank.
The clearing service for Girobank had previously been provided by The Cooperative Bank, which UPSL