Lloyds TSB moves to Faster Payments

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Lloyds TSB moves to Faster Payments

Antony Savvas

Lloyds TSB is to use an enhanced version of ACI Worldwide’s Base24-es software to meet the UK’s new Faster Payments Service (FPS) requirements. 

Base24-es for Faster Payments will provide Lloyds TSB with a gateway for linking to the central Faster Payments infrastructure, being built by Immediate Payments (the joint venture between Link and Voca). 

Darryl West, director of group IT at Lloyds TSB, said, “The move to Faster Payments is an important infrastructure change for us. ACI’s history with us made it the logical choice and we are confident that we will be FPS-compliant within the agreed timeframe.”

The gateway will help Lloyds TSB integrate with its existing payment hub. It will be maintained and enhanced by ACI as the scheme changes and mandates emerge and will run on an IBM System z server.

Lloyds TSB has been a customer of ACI for nearly 20 years and already uses Base24 and Base24-es in retail banking.

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