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Voca adopts Distra payments technology for Faster Payments solution

Saturday, 05 August 2006
Voca adopts Distra payments technology for Faster Payments solution

 

Voca adopts Distra payments technology for Faster Payments solution 21.08.06

Australian payments technology company, Distra Pty Ltd, has entered into an exclusive arrangement with Voca Limited, the leading provider of payments services to banks and corporates, to provide its next generation payments technology into a range of Voca payments solutions targeted at the UK and European markets.

Voca is responsible for the technology behind the UK’s automated payments, processing 55 billion transactions in the last 38 years. It is also the largest processor of Direct Debit and Direct Credit transactions in Europe. Voca is working with LINK to supply the central infrastructure for the new Faster Payments service which will be launched in the UK in 2007. In addition Voca has also launched the Voca Payments Switch, a software solution enabling banks to connect to the Faster Payments scheme.

Nick Masterson-Jones, Director of Information Technology for Voca, said: “We selected Distra’s technology as a key component of our solutions because its uniquely innovative architecture provides a combination of real-time performance, reliability and agility. Banks are under significant pressure to introduce new services to customers within an ever-changing payments landscape. Distra’s technology helps us fulfil their immediate requirements, as well as provide the flexibility to prepare for the future.”

Mike Aston, Chief Executive Officer of Distra said: “We are delighted to be working closely with one of the world’s leading suppliers of payments services. We recognised the huge potential for next generation payments technology arising out of new initiatives in the UK, such as the Faster Payments scheme, and the massive changes sweeping the European payments landscape under the SEPA initiative. Our relationship with Voca provides a highly effective channel for bringing our innovative payments technology to this exciting market.”

In support of the new relationship, Distra has appointed George Ogden as Regional Sales Director for Distra in the EMEA region, based at Distra’s sales office in NW London, UK. Prior to joining Distra, George was Market Development Director for S2 Systems and Regional Director EMEA for IFS International.

About Voca
Formed in 1999, Distra is an Australian software company specialising in payments applications and high performance, high availability transaction processing. Distra’s enterprise class products are designed for use by financial institutions, payments processors and other institutions operating in the payments chain. In a changing, dynamic payments market Distra provides improved reliability, increased business agility and significantly lower costs of operation for equivalent application and infrastructure environments.
Voca provides technology and services that form the core infrastructure of the UK automated payments industry handling more than 90% of UK salaries, 70% of household bills and the majority of state benefits and pension payments, and has never lost a payment.

Voca is recognised as the largest processor of Direct Debit and Direct Credit transactions in Europe. During 2005 more than 5 billion financial transactions were securely processed, this accounts for 15% of all European automated payments. Voca processed a peak of 78 million transactions on a single day in June 2006.

More than 100,000 businesses connect to the Voca network, including all of the FTSE 100. 2005 saw all of them transfer to a highly advanced IP-based submission channel, BACSTEL-IP*.

Voca is working with LINK to supply the central infrastructure for the faster payments service which will be launched in the UK in 2007.

Additionally, Voca is committed to and is actively supporting the introduction of a SEPA (Single European Payments Area) and its payment solutions are already well developed to meet the demands of this pan-European programme.

Please visit http://www.voca.com for more information or contact Liz Barrass, Voca Limited, 0870 920 8625 or Liz.Barrass@voca.com

Registered trademark of BACS Payment Schemes Limited

About Distra
Formed in 1999, Distra is an Australian software company specialising in payments applications and high performance, high availability transaction processing. Distra’s enterprise class products are designed for use by financial institutions, payments processors and other institutions operating in the payments chain. In a changing, dynamic payments market Distra provides improved reliability, increased business agility and significantly lower costs of operation for equivalent application and infrastructure environments.
Distra’s head offices are located in Sydney Australia and it also has sales offices located in Singapore and London.

For further information please visit http://www.distra.com or contact Heather Dawson, Distra Pty Ltd on +61 2 9212 0826 or heather.dawson@distra.com