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Bank of England hires Accenture for 150 mln pound overhaul of UK payment system

Thu, 30th Jul 2020 10:05

LONDON, July 30 (Reuters) - The Bank of England said on
Thursday it had hired IT consulting company Accenture to
overhaul part of Britain's payments infrastructure, in a
contract worth up to 150 million pounds ($195 million).

"The Renewal Programme is a key priority not just for the
Bank but also the wider UK payments industry," said Victoria
Cleland, the BoE's executive director for banking, payments and
innovation.

"It will support a resilient financial system that protects
the UK's financial and monetary stability in the years to come."

The project to overhaul RTGS, which currently handles 685
billion pounds a day in payments between large financial
institutions, is due to start being delivered in 2022.
($1 = 0.7705 pounds)
(Reporting by Andy Bruce, editing by David Milliken)

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