Pennsylvania-based Unisys has teamed up with e-finance software house Corillian to deliver account aggregation solutions to the UK financial services sector.
Account aggregation will enable users to log-on to a single personalised site on the Web. They can review their current account details alongside savings accounts, mortgages, utility statements, bills, e-mail and reward schemes.
The Unisys e-@ction Account Aggregation Solution is a permissive account aggregation service. This means that there is co-operation between financial institutions, including direct data feeds between sites, based on agreed industry standard protocols.
Martin Davis, managing director, Corillian International, says: "The account aggregation market's development has been hindered by fears about security and accuracy.
"This permissive aggregation service negates those fears by providing direct links between financial institutions themselves."
Both parties are working with UK and European regulatory bodies to ensure that all regulations are complied with.
The service will be provided at the Unisys Data Centre, Milton Keynes, running on ES7000 servers. The centre will serve continental Europe before expanding to Asia and Australasia, where Unisys is in discussion with regulatory bodies and financial institutions.
According to Datamonitor's June 2001 report, the US and Western Europe aggregation customer base is set to grow at a compounded annual growth rate of 140 per cent, reaching 60 million users by 2005.