The UK Lloyds TSB Bank Plc. has implemented Stelink financial messaging system
to handle group-wide international payment processing. Replacing the bank's 20-
year old financial messaging system, Stelink is processing around 110,000
business-critical transactions with an associated value of £200 billion per day.
The new system was implemented by IT services house Steria in conjunction with
Sterci and bank as part of a major project to overhaul Lloyds TSB’s payment
processing for the introduction of SWIFTNet.
For the project, the new system had to be integrated with 13 separate back office applications.
In addition to improved payments processing, Lloyds TSB will also benefit from
significantly reduced operating, maintenance and support costs. Internal service levels will also be enhanced as staff will benefit from the modern, more intuitive interface. For customers the system provides reassurance in terms of improved security standards and faster response times for queries.
Commenting on the move to Stelink, Russell Saunders, Payments Director of Group
Operations, Lloyds TSB, said "The implementation of our next generation of
financial messaging system is a fantastic success. Initially the significance of the project was not appreciated, but once good cross-functional teams were
established, the conduct of the project was so successful that it will be used as a flagship for future Lloyds TSB projects ".
Sterci STP solutions will be presented at Sibos Copenhagen Sept 5-9 stand #B116.
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