What is ETS?
High Speed Transmission (HST) is the channel used by banks and a small number of high-volume originators to transfer payment information to and from BACS. The current HST service will be replaced in November 2007, requiring all users to migrate to alternative channels prior to this date.
There will be two options available: Enhanced Transmission Service (ETS) and SWIFTNet Transmission Service (STS). Both provide high speed secure IP-based channels for the input and output of BACS payments and payment related messages. The decision as to which service to use will depend on several factors including organisations’ current SWIFT usage and their future payment strategy.
The new services will appeal to a broad base of users, including Agency Banks, who can now create automated processes for sending and receiving payment data.*
EigerPAY Gateway for HST replacement
EigerPAY Gateway for ETS represents the most cost effective and lowest-risk option for HST users. Part of the EigerPAY Gateway suite, this is a proven high volume bulk payment platform and is the system of choice for the majority of high volume BACS users, including most of the major banks. EigerPAY Gateway is used throughout the UK’s most demanding payment environments, processes over 1.5 billion payments per year and accounts for approximately one third of all BACS payments.
Why implement EigerPAY Gateway for ETS?
Performance and functionality – designed to provide exceptional performance, this is the most feature-rich solution available and is based upon a platform-independent architecture.
Robust – a standard packaged system (as opposed to a system specifically developed for ETS), based upon current standards and a component based design.
Security – industry leading security including role based access, biometric (finger-print) authentication and full audit trail of all events.
Channel flexibility – choice of using ETS or future channels as they become available, eliminating commercial ties to any single channel or service provider.
Rapid implementation – available now, together with full supporting consultancy services, to meet Voca’s member migration strategy; ensures that the migration deadline is met with minimum risk.
Minimal changes to existing business systems - comprehensive facilities isolate users from the significant changes which will occur as a result of HST migration.
Summary of features
- Fully supports ETS specifications
- Allows full integration with existing systems and third-party tools for deployment, monitoring, workflow and reporting
- Fully configurable via a Graphical User Interface
- Facilitates a fully automated environment with automatic transmission and data retrieval scheduling
- Configurable alerting to allow notification of errors or problems to selected contacts
- Support for PC, Mid-range and Mainframe platforms
- Comprehensive “HST emulation” facilities to automatically convert file and report formats, naming conventions and file acknowledgements.
*Using ETS Agency Banks can receive AUDDIS instructions and submit ADDACS and AWACS advice electronically; this facility is not available via BACSTEL-IP