21 August 2017
Find out more

ING Direct deploys Microgen payment control system

21 July 2003  |  3465 views  |  0 ING Direct deploys Microgen payment control system

ING Direct in the UK has implemented Microgen's Payment Control System (PCS) as a core component of its UK banking systems.

Windsor-based Microgen says PCS provides ING Direct with a processing and communications infrastructure linking its back office applications with various external UK payment and clearing systems including Bacs.

The system eliminates point-to-point interfaces and instead provides a single integrated point of control. Microgen says a single point of operational control will enable the bank to increase operational efficiency and be better equipped to handle change driven by new products or external variables such as the introduction of BACSTEL-IP.

Vincent Chatard, IT director, ING Direct, says the solution will provide flexibility in supporting the business whilst maximising operational control: "Data can flow between our back-office and external systems with no manual intervention whatsoever."

News of the installation comes as Microgen reports a 10% fall in turnover for the first six months to £11.1 million and operating profits eight per cent lower at just under £1 million, compared to the same period last year. Property provisions and restrucutring costs meant the group turned in a pre-tax loss of £0.7 million, compared to a profit of £0.1 million a year ago.

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

ING to consolidate central European back offices in Budapest - DJN

ING to consolidate central European back offices in Budapest - DJN

08 July 2003  |  3235 views  |  0 comments
ING signs with Schlumberger for combined EMV and e-purse cards

ING signs with Schlumberger for combined EMV and e-purse cards

26 June 2003  |  5061 views  |  0 comments
UK high street banks outgunned by Internet-only rivals

UK high street banks outgunned by Internet-only rivals

26 June 2003  |  4200 views  |  0 comments

Related company news

 

Related company information

Microgen

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.niceactimize.comdownload the paper now

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
10495 views comments | 24 tweets | 23 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
8772 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
8624 views 0 | 3 tweets | 1 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
8441 views comments | 10 tweets | 7 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
7952 views comments | 17 tweets | 16 linkedin