TITLE

Fast development for Faster Payments

AUTHOR(S)
Flinders, Karl
PUB. DATE
December 2008
SOURCE
Computer Weekly;12/16/2008, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the creation of IT infrastructure which supports the Faster Payments system of Great Britain. It was created in 18 months, by a team of planners facing a non-negotiable deadline and no room for compromise. Apacs and British banks decided to create a service which could clear payments in a day at the end of 2006. Faster Payments was the first new Great British payment system to be introduced in 20 years. It offers shorter times to clear payments than the three days needed for the Bacs payment system. Nick Masterson-Jones, director of IT at Vocalink, says any system that handles money and payments relies totally on the trust of users if it is to be accepted.
ACCESSION #
36882332

 

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