Bacs to implement Valicert security software for IP upgrade programme

Bacs to implement Valicert security software for IP upgrade programme

Valicert's Validation Authority security software is being implemented at UK clearing house Bacs as part of a major techology upgrade to IP-based processing.

The first step in the NewBacs technology renewal programme is the development of a new IP channel, Bacstel-IP, which provides users with direct online access to Bacs. The Bacstel-IP service went live in October 2002 and the clearing house is in the process of migrating banks and customers over to the system by the end of 2005.

Tim Lambertstock, technology strategy manager at Bacs comments: "With our NewBacs program, we are working with banks who are implementing various trust services to provide smartcard-based digital certificates to their corporate customers. The banks must comply with a minimum set of standards including the use of online digital certificate status checking. The trust services used by each bank will have to incorporate technology to support these standards."

He says Bacs will be using Valicert VA internally as part of a reference implementation to test third party software solutions before they are approved for use by customers.

The Valicert VA can also be used by UK banks in their payment services offerings to businesses and consumers over Bacstel-IP.

The BACS system is used by more than 50,000 UK businesses to send over 3.7 billion electronic payments annually.

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