BGC Selects Logica to Support Bank Giro Payments
Bankgirocentralen (BGC) in Sweden has signed an agreement with Logica to further develop, test and adapt parts of BGC’s payments services. Logica will develop new web interfaces, which will primarily be accessible from Internet banks, for certain bank giro services. The agreement is part of BGC’s efforts to develop innovative bank giro products jointly with co-operative partners.
BGC currently manages bank giro transactions totalling SEK25-50bn daily. Logica will use a combination of local expertise in the Nordic region and offshore resources in India to deliver the project, leveraging the blended delivery model to ensure quality and cost-efficiency. The solution will manage considerable volumes of high value payments, so the project is subject to major demands for risk management. Logica will also assist in developing payments products for BGC.
Birgitta Simonsson, chief executive of BGC, said: “Together with Logica, we will now advance the development of our bank giro platform. This will enable us to continue to offer our customers – the Swedish banks – a very strong product range at competitive prices. As a result of our close collaboration with Logica, we are confident that its team will help us complete this important project.”
Logica had signed an earlier agreement with BGC to provide system development services as well as managing current IT systems.