SJ Berwin bags role on bank transfer scheme

SJ Berwin‘s IT practice group has bagged the main role on a project to speed up the processing of bank transfers. By the end of 2007 bank transfers will take effect after several hours rather than days, thanks in part to the firm. SJ Berwin advised Apacs, the UK payments association representing 13 banks and building societies, on the deal. High street banks to benefit from the deal include Abbey, Alliance & Leicester, Barclays, HSBC, Lloyds TSB and Nationwide Building Society. The project will affect the five billion regular debit payments active in the UK. Eversheds also secured a key role on the project, advising suppliers Link and Voca, which have formed a joint venture company called Immediate Payments to provide the faster payment infrastructure.