Lloyds TSB implements Faster Payments Service gateway
UK bank implements software to meet Faster Payments Service requirements
Lloyds TSB has implemented a gateway which will link to the Faster Payments Service infrastructure to meet the deadline for the service this month.
The gateway is supplied by ACI and will be integrated with the bank's existing payment hub.
The Faster Payments Service being built by Immediate Payments - a joint venture between Link and Voca - requires banks to introduce same-day clearing of internet and telephone banking credits and standing orders by this month.
The central infrastructure of the scheme is being delivered by a joint venture between Voca and LINK.
The gateway will comprise the software vendor's Base 24-es software that meets the Faster Payments Service requirements.
'The move to faster payments is an important infrastructure change for us,' Darryl West, director of group IT at Lloyds.
'We are confident that we will be Faster Payments Service compliant within the agreed timeframe,' he said.
What do you think? Email us at [email protected]
Further reading: