THE States is revolutionising the way it handles its accounts. It has become the 500th customer to sign up to electronic corporate banking with the Royal Bank of Scotland International.

Using what is claimed to be a tried and tested system called eQ, the States will be able to manage its banking internally.

This includes services such as transferring funds globally, getting up-to-the-minute information on its accounts and managing multiple accounts from one place.

States treasurer Dave Clark said: ‘eQ will significantly improve the way we work. It will enable us to manage our banking ourselves without losing any of the specialist advice and support we currently have from RBSI.

‘It is a great example of the public sector working closely with the private sector to make the most of modern technology to enhance the quality and value of the services we deliver to the community.’

Switching to the eQ service will offer the States several advantages: the costs associated with banking services are greatly reduced, transactions can be completed more quickly and government will benefit from extended payment cut-off times. In addition, detailed account information is up-to-the minute and widely accessible to people at their desks, helping departments work together more effectively.

With this increased accessibility, it is important to maintain security and confidentiality. eQ gives users a level of access and control appropriate to their role.

‘eQ is a powerful system that can handle many accounts and transactions quickly and smoothly,’ said RBSI electronic business manager Eileen McMorran.

‘Because it works with the customer’s existing financial systems, it is straightforward to introduce. Most importantly, our customers find it very easy to use and it brings significant improvements to their business and financial operations.’

Civil servants will receive full initial training from RBSI and ongoing support as required.

Since its launch five years ago, eQ has been adopted by hundreds of corporate users and several thousands of their employees. It has been successful in a wide range of sectors, from legal and accountancy firms to trust companies and public sector organisations.