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Article: Sun to Provide Computers for Internet Banking; Playing Key Role in Technology Enabling Nationwide Processing Network.
- Article from:
- Business Wire
- Article date:
- September 21, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO--(BUSINESS WIRE)--Sept. 21, 1995--Sun Microsystems Computer Company (SMCC) today announced that it will offer banks participating in the Financial Services Technology Consortium (FSTC) Electronic-Check project with network computing servers enabling comprehensive all-electronic check transactions over the Internet.
The FSTC system uses established interbank clearing systems such as the Automated Clearing House (ACH) but eliminates paper entirely from the process. A prototype system was demonstrated at the Bank of America today.
Once operational, servers such as a Sun(TM) SPARCstation(TM) 20 computer will be present in both the customers' bank ...