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MTS Allstream to deploy managed MPLS solution for Canadian Payments Association |
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MTS Allstream has secured a three-year $2.5 million contract to design, build, deploy and manage an MPLS network for the Canadian Payments Association (CPA).
The network, which will span 15 sites across Canada, is one of two that will be used in the deployment of the CPA's Truncation and Electronic Cheque Presentment project - an initiative that will modernize the clearing process for Canadian cheques. In the current clearing process, almost five million paper cheques are transported between Canadian financial institutions each business day. Targeted to begin at the end of 2008, the CPA's Truncation and Electronic Cheque Presentment project is an industry-wide initiative to improve the efficiency of the system using image technology. Under the new process, financial institutions that receive cheques on deposit will capture images of the front and back of these items and transmit them via a secure MPLS network to the financial institutions on which they are drawn - eliminating the need to deliver the paper cheques. |
