The UK's Lloyds TSB has implemented the Stelink financial messaging system from Geneva-based Sterci to handle its group-wide international and high value domestic payments.
The new system was implemented by IT services house Steria in conjunction with the Swiss supplier and bank as part of a major project to overhaul Lloyds TSB's payments processing for the introduction of SwiftNet.
For the project, the new system had to be integrated with 13 seperate back office applications.
Russell Saunders, payments director of group operations, Lloyds TSB, describes the implementation as "an exemplary payments project".
He says: "The implementation of our next generation of financial messaging was inherently complex, involving operational changes for several business units and enhancement or replacement of existing systems."
The Stelink package is now operational and processes around 110,000 business-critical transactions with an associated value of £200 billion per day.