A Banking Application: Fundtech Global
PAYplus Test Results on IBM POWER5+
A group of United Kingdom banks made plans to reduce payment times of transactions
(involving telephone or Internet instructions from customers) from days to seconds. The
Faster Payments Initiative is a proposal to update their payment systems to enable
connection with the new central infrastructure. They plan to implement this very shortly.
Fundtech ran a series of benchmark tests to demonstrate that their Global PAYplus
application can handle the high transaction volumes required.
© Copyright IBM Corp. 2007. All rights reserved.
Introduction and management summary
In May 2005, the Payment Systems Task Force, chaired by the Office of Fair Trading,
announced that an agreement had been reached to reduce clearing times on electronic
payments among UK banks from days to seconds for telephone or Internet payment
instructions from customers, and for customer Standing Orders.
Ten banking groups have committed to implement the scheme. Among them, they represent
95% of the payments made in the UK. The other banks and building societies will be making
decisions about how, when, and if to join the scheme over the next year or so.
Driving high transaction volumes: The UK Faster Payments Initiative
These ten banking groups need to update their payment systems to enable connection with
the new central Faster Payments infrastructure and complete testing within a very
compressed time frame. Their “go live” date has been set for November of 2007.
The Faster Payments scheme presents unique challenges to the existing payment systems in
a bank. It simultaneously needs to support:
ACH-type batch processing with volumes of several million transactions an hour during
peak periods. Although processed as a batch, these transactions need to be examined
individually to isolate and to process internally those transactions that are between the
account holders of the bank or between th