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Two banks select Fundtech for Faster Payments systems implementation

Thursday 29 May 2008 16:41 CET | News

Two of the thirteen banks that went live with UK Faster Payments have selected software and banking services provider Fundtechs Global PAYplus.

Fundtechs Global PAYplus web-based technology provides financial institutions with payment services. The system targets local and global payment processes.  At the local level, Global PAYplus supports electronic payment processing, risk management and regulatory compliance for the local clearing systems. At the global level, Global PAYplus supports the initiation and management of all worldwide payment activity.The Faster Payments Service enables customers to make internet and phone payments outside of banking hours and even during the weekend. The service enables standing order payments to be cleared during the same day they are sent on bank working days. Customers of Barclays, Citi, Clydesdale and Yorkshire Banks, HSBC, Lloyds, Northern Bank and RBS are able to use the system to send and receive payments. But customers of Alliance and Leicester, HBOS, Nationwide, and Northern Rock can only receive payments.


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Categories: Payments & Commerce
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