Post Office riposte to high street banking demise


Post Office riposte to high street banking demise

Matthew Burgess
Britain's 18,000 post offices are to offer current account services on behalf of the major high-street banks, with the help of the Escher Group's WebRiposte web-enabled messaging system.

Matthew Burgess

The software package was chosen for its compatibility with the Post Office's £500m Horizon banking system, which is based on the Escher Group's pre-Web age Riposte systems.

Visitors to the Post Office will be able to withdraw cash, make deposits and check their account balances. In future, the Post Office hopes to offer more sophisticated banking services, including credit card transactions.

The rollout of the Web-enabled software is pencilled-in for mid-2002 but IT managers are optimistic that it can be launched by the end of the year. ICL/Pathway has been commissioned to install the messaging system, which will interface with the Post Office's IBM banking engine via XML streams.

According to John Meagher, vice-president of strategic accounts for the Escher group, WebRiposte will allow the Post Office to connect approximately 20,000 workstations across a variety of different connection media such as ISDN, ASDL or satellite links.

The Post Office and the major banks are under strong political pressure to co-operate on providing basic banking services to disadvantaged groups as bank branches close in thinly populated rural areas. Already, HSBC, Lloyds/TSB, Barclays and NatWest/Royal Bank of Scotland have signed up to take part in the initiative.

IT director for network banking at the Post Office, Basil Shall, commented: "Customers will be able to treat the Post Office as if it were their own bank. And if you don't pay for something in your own bank, you won't pay for it in the Post Office."

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy