IBM chooses eFunds for universal banking services project at UK Post Office branches. (Internet/E-Commerce).(Brief Article)

Internet Business Newsletter, April, 2002

eFunds Corp., a provider of electronic payment, risk management and related professional services, announced it is working with IBM to provide universal banking services to Post Office Ltd., the company responsible for the UK's more than 17,500 Post Office branches. This major contract forms part of a UK government initiative to provide low-cost bank accounts that are easy to access for citizens without conventional banking facilities and that improve the payment of social security benefits.

eFunds will install its CONNEX EFT solution to help IBM provide a secure IT infrastructure to process financial transactions from retail Post Office outlets.