LONDON - Alaric International, supplier of advanced technology for the card payments industry, announced the release of a technology platform for the launch of a new online-banking service for Cumberland Building Society.
According to a news release, the Internet-banking solution is expected to be released later this year through a partnership with Sandstone Technology, developer and integrator of specialized software, services and solutions for the financial-services market.
Sandstone will be delivering full Internet banking functionality for the new system through the implementation of its direct-banking platform, BankLink. An extension of Alaric's Authentic authorization, switching and ATM management system, which Cumberland Building Society is already using, will interface with BankLink and Cumberland Building Society's host system. Authentic is Alaric's credit- and debit-card authorization, payment gateway and switching solution. The Authentic system integrates existing payment systems with new delivery channels via its configurable mapping technology and business logic.
"Our new Internet-banking service will enable our current account customers to securely view and manage their accounts online 24-hours a day, seven days a week," said John Kidd, Cumberland's finance director and secretary. "The solution offered by Alaric and Sandstone delivers the flexibility, speed and world-class security to ensure a robust, reliable and convenient service for customers."
