Consultant News
Latest Consulting News Consulting Times
 
 
In the News news icon
menu item  Accenture
menu item  Arthur D. Little
menu item  A.T. Kearney
menu item  Bain & Company
menu item  BearingPoint
menu item  Booz Allen Hamilton
menu item  Boston Consulting Group
menu item  Capgemini
menu item  CSC
menu item  Deloitte
menu item  Ernst & Young
menu item  IBM GS
menu item  McKinsey
menu item  PA Consulting
menu item  Roland Berger
Consulting Times Editions
menu item
    2009 Archive
    2008 Archive
    2007 Archive
    2006 Archive
    2005 Archive
  LogicaCMG and BACS have combined their complimentary strengths and experiences to take advantage of the growing electronic payments market.
  Advertisement  
Consulting-Times E-zine
By 2010 the worldwide market in payment transactions will be worth $364bn in revenue to banks worldwide and generate over 400 billion transactions a year, according to the Boston Consulting Group.

LogicaCMG and BACS, two major players in the banking industry, announced a partnership with the aim of providing the technology and services which underpin the massive growth in electronic payments. BACS is already behind over 3.7 billion payments per annum in both Sterling and Euros, LogicaCMG is a leading information technology services provider to the world's premier financial institutions.

Commenting on the announcement, BACS CEO, Marion King, said, “This is a significant step for BACS in moving forward with our strategic aim of providing ACH services in new markets.”

They will be working together to provide the infrastructure and technology services to existing and emerging automated payments markets worldwide, based on the award winning NewBACS technology platform. The first stage of the BACS platform was voted the Best Use of Business-to-Business E-Commerce Solution at the UK Financial Sector Technology Awards 2003. It has also received recognition at the Corporate IT Forum Awards and the British Computer Society Awards for IT Services. The platform provides unique and highly secure IP-based technology to facilitate bulk payments, and its rich functionality also provides the convenience and flexibility of other payment instruments including the Direct Debit service for repeat payments.
 
Search news icon
advanced search  
search



 
©2003-2011 Consultant-News.com
ConsultancyRoleFinder.com | ConstructionRoleFinder.com
ExecutiveRoleFinder.com | EngineeringRoleFinder.com | TopITconsultant.com
Home  |  Contact Us  |  Privacy Policy  |  Terms of Use