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Barclays signs up for IBM integration

Another big services win for IBM...

By John Oates

Published: 16 August 2001 09:03 GMT

IBM has won a £35m contract from Barclays Bank to integrate its systems so it can provide customers with 'instant' banking.

By pulling the bank's systems together customers will be able to transfer instantly between accounts rather than waiting until the next day for clearance. But cheques from other banks will still take three days to clear.

IBM already supplies Lloyds with real-time banking, according to the Financial Times.

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