London, 7 June 2004: BACS today announced the launch of a new range of connectivity solutions - Fixed Extranet Connect and DSL Connect. Developed with BT, the products offer BACS users a choice of tailored, always-on connectivity services and have been created specifically for larger customers. The benefits of the exclusive functionality and support include enhanced speed and service assurance when sending payments into the UKâs Automated Clearing House.
Launched to complement the wider migration of all BACS customers to BACSTEL-IP, the new IP based delivery channel that will be de facto by December 2005, these new connectivity options provide high service availability against a backdrop of growing numbers of automated payments.
Marion King, chief executive officer, commented on the deal; "BACS Ltdâs commercial vision is further realised through working closely with BT, one of the worldâs leading network services and solutions company in the UK. Not only is the solution tailored to our customersâ needs it delivers real benefits to them as they migrate to BACSTEL-IP and look to secure greater efficiencies from automated payments. As growing numbers of customers add supplier and expense payments to the traditional salary settlement through Direct Credit so the number of companies needing this kind of product will continue to grow."
Ben Burgess, general manager, BT Global Financial Markets, added; "Our relationship with BACS is part of our ongoing commitment to innovation and networking excellence in the finance sector. The solution will provide BACS with a robust and secure IP platform to enable customers to gain greater efficiencies from automated payments. It will also be scalable providing a future proof platform for growth and the ability to provide additional service offerings."
BACSâ Fixed Extranet Connect has already been selected by a number of corporates, enabling them to take full advantage of the benefits of BACSTEL-IP. Every BACS user will need to select the most appropriate way to connect to BACS during their BACSTEL-IP migration. The four choices are the BACS Fixed Extranet Connect, BACS DSL Connect, Dial-up Extranet or through the Internet. BACS will also facilitate a special, entry level, Business Broadband offer through BT Openworld, to complete the range of products aimed at meeting all businessesâ needs.
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