British Telecommunications (BT), one of the world’s leading providers of telecommunications services, is implementing EigerPAY Gateway from Eiger Systems, Europe’s leading developer of validation and payment solutions for automated banking and e-commerce. The move will provide BT with access to BACSTEL-IP, the new payment submission platform that replaces the existing BACSTEL service on 31 December 2005. BACSTEL-IP delivers faster payments, higher security and offers real-time online reporting. All organisations that submit direct debits and direct credits to BACS must migrate to BACSTEL-IP by the end of 2005. The transition to BACSTEL-IP has enabled BT to re-assess its overall requirement for electronic payment collection and in turn adopt a single solution for submitting BACS payments, consolidating the 10 systems that had been in use historically. Richard Gous, the BACSTEL-IP project sponsor from BT group treasury, commented: “We process around 8,000,000 direct debits each month and on our busiest day alone submit up to 2,500,000 transactions. Because of this, it was imperative that any software supplier we chose would be physically capable of handling such high volumes.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more