17 August 2017
visit www.avoka.com

Chips to extend domestic reach with IntraNet access module

11 October 2004  |  2554 views  |  0 global_6

Large-value payments network Chips is looking to extend its reach to smaller US banks through an interface agreement with payments outfit IntraNet.

The new interface will improve a financial institution's business case for Chips by eliminating the need for expensive custom software development, says Paul Morris InraNet SVP.

Hank Farrar, senior vicepPresident of The Clearing House Payments Company responsible for Chips concurs: "Until now, accessing Chips has required an expensive software solution developed in-house or by a third-party funds transfer software developer, which proved to be a significant start-up barrier for US financial institutions with low wire transfer volume."

The agreement also opens opportunities for Chips to tap in to IntraNet's large installed base of customers, he adds.

Says IntraNet's Moris: "This release provides banks that have been thinking about joining Chips with a very cost effective entry level solution."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Chips opens up to SwiftNet

Chips opens up to SwiftNet

26 February 2004  |  4051 views  |  0 comments
Chips are down for currency has-beenz

Chips are down for currency has-beenz

17 August 2001  |  2338 views  |  0 comments
New York Clearing House upgrades Chips payment system

New York Clearing House upgrades Chips payment system

13 June 2001  |  3246 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.dorsum.eudownload the paper now

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10219 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9561 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9382 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8399 views comments | 6 tweets | 21 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
7879 views comments | 1 tweets | 2 linkedin