BACSTEL-IP provides the UK with the most advanced, flexible and cost effective system for electronic payment submission anywhere in the world. It is the first phase of the ambitious five-stage technology renewal programme, called NewBACS, which is replacing the BACSTEL telecommunications link for banks by 2005. This is responsible for processing over 3.7 billion payments from and to over 100,000 UK businesses every year. The NewBACS programme will introduce IP technology and a multi-layer security platform to meet the growing demand for efficient, online payment services.

Thales e-Security's AssureTransaction forms the security backbone for the BACSTEL-IP system, verifying digital signatures and authenticating users. AssureTransaction will provide real-time verification of the PKI (Public Key Infrastructure) smart card identities, issued to users by the banks, and check the digital signatures on all payment files submitted to BACS.

Tim Lambertstock, Technology Strategy Manager at BACS, said: "We are delighted that the importance and success of this project has been recognised with this award. We would also like to thank Thales e-Security for the pivotal role the company played in helping to deliver this project on time, working with a team of other vendors. Not only is AssureTransaction a proven product with the scalability, flexibility, ease of integration and resilience that we require, but Thales e-Security has also demonstrated its world-class expertise in information security."

John Skipper, the Product Marketing Manager at Thales e-Security, said: "This award recognises the significance of the NewBACS programme for the UK economy. BACS is already used by virtually every company employing more than 20 people in the UK. With NewBACS, the UK financial services industry will have an internet-age solution able to deliver corporate and business payment services, and a platform to compete in European and global payment clearing markets. BACSTEL-IP positions the UK financial institutions to offer new, innovative payment services for UK businesses, which will substantially improve the competitiveness of the UK economy."

About Thales and Thales e-Security

Thales is a world leader and front-runner in professional electronics in three key markets: Aerospace, Defence and Information Technology & Services (IT & S). The Group employs 60,000 people in nearly 50 countries worldwide, and generated revenues of over €11 billion in 2001.
Operating in three main markets covering e-security, card payment and network security, Thales e-Security addresses the business, government and finance industry's need for cryptographic security products and solutions. Over half of the world's banks, together with the majority of the busiest exchanges, currently use Thales technology. For more than 20 years the company has been at the forefront of security and payment technology, co-operating and contributing to set the industry standards used for financial transactions and e-commerce globally. Thales e-Security offers a wide range of security solutions to protect Government and Defence critical information infrastructures, thereby positioning the company as a leading worldwide supplier of certified network security products. Visit Thales e-Security on the Web at www.thales-esecurity.com.

About Thales and Security

Thales, one of the globe's leading suppliers of integrated security solutions, addresses the business security needs of corporates and governments alike, protecting transactions, networks, identification documents and sensitive sites. Thales' security capability extends to security and payment technology for financial transactions, networks and e-commerce. An acknowledged expert in smart card technology and applications, Thales is a European leader in security critical electronic payments, integrated Electronic Fund Transfer (EFT), e-purse payment and secured keyboards, as well as being the UK's leading supplier of electronic card payment terminals.

About BACSTEL-IP

In February 2002 BACS launched its technology renewal programme in order to meet the rapidly growing demand for its electronic payment services. BACSTEL-IP is the first stage of the technology renewal programme.
BACSTEL-IP utilises Internet Protocol and Public Key Infrastructure (PKI) to create a new delivery channel with a multi-layered security platform providing businesses with the highest level of security in payment submissions. This upgrade represents a major improvement for business customers with even faster payment confirmation and the ability to track the status of payments online.

Press Contact:
Scott McLean, Hotwire PR +44 (0) 207608 4643
scott.mclean@hotwirepr.com