ING Direct deploys Microgen payment control system
21 July 2003 | 3506 views | 0
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.