- Knowledge Centre
- Bacs Technology
Bacs Payments Technology
- Smart Cards enable Bacstel-IP users to authenticate their
connection to Bacs before sending their payments data. A Smart Card
is issued to a named individual who is responsible for its use and
- A Hardware
Security Module (HSM) stores the same security
data as a Smart Card but is accessible only to the software
and does not require a person to manually authenticate it. When
processing frequent or large volumes of Bacs files, the automation
of authorisation saves a considerable amount of time.
- For Bacstel-IP and Secure-IP submissions, you can connect to
Bacs via dial-up internet, broadband internet or broadband Bacs
extranet (a dedicated line and router for which Bacs will provide a
service level agreement).
- With Bacstel-IP and Secure-IP, data sent to Bacs is
submitted in a format called Standard-18, and this is wrapped up in
XML. Reports from Bacs are provided in two formats; XML, for
analysing and processing, and HTML, for viewing on screen and
of Bacstel-IP with ePay »
Crediting and debiting building society accounts
- There are now very few Building Societies which allow Building
Society accounts with just Roll numbers (older accounts) to receive
Bacs Direct Credits.
- The usual procedure for these accounts is to send the Bacs
Direct Credits to a "Head Office Collection Account" maintained by
the Building Society with one of the Bacs Member Banks and include
the roll number in a reference field for Direct Credits.
- The Crediting and Debiting Building Society Accounts guide and
similar user guides are available to businesses who have access to
Library section on the Bacs website.
Send Bacs Direct
Credits with ePay »
- Sarbanes-Oxley (SOX) is a US federal law aimed at ensuring that
businesses are totally transparent in their financial reporting -
effectively making it more difficult to commit fraud at corporate
- There is no such thing as a SOX-compliant piece of software -
the business itself must be compliant.
- However, Albany's software aims to meet the SOX regulations for
reporting, audit trails and fraud.
- This regulation effectively adds an extra layer of security to
guard against unusual transactions.
SOX-inspired transaction reporting with ePay »
Public Key Infrastructure (PKI)
- Public Key Infrastructure (PKI) enables the secure exchange of
information amongst individuals and computer systems.
- PKI is the security infrastructure or process utilised to
securely transmit data. It is the system used for the
creation, storage and distribution of digital certificates.
- A digital certificate is an electronic document that is
transmitted together with the data and verifies the identity of the
sender and recipient via an associated digital signature.
- The digital signature is the key to lock and unlock the digital
certificate and to access the confidential data being sent or
received. It contains a set of mathematically-related,
unique cryptographic keys for the encryption and decryption of data
and authenticates the source and validity of the message.
- Digital signatures are now acceptable in a court of law.
Public Key Infrastructure for enhanced security »