Case Study – BACS taking systems to the edge BACS Ltd was established in 1968 and has grown into the world’s largest clearing house. The company is owned by the major UK banks and building societies and operates under the APACS umbrella. At the heart of “UK plc” BACS business encompasses electronic funds transfer, Direct Debits, credits, standing orders and inter-bank network services transacting “UK plc’s” financial business. This is demonstrated by some impressive statistics. Over 40,000 businesses use BACS services which amounts to up to 44 million financial transactions a day. In 1998 this amounted to 2.8 billion transactions. When you think that the majority of salaries are paid via BACS transfer the importance of the service to everyone in the

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