Barclays Bank has made a U-turn on its on-line banking policy and decided to use Microsoft Money for its forthcoming service, despite rejecting the package last year.
The Barclays PC Banking service will be launched next spring and use Microsoft Money '97 as its front end.
In July 1995, Barclays told PC Week that Microsoft Money and rival Intuit's Quicken were too complex to use as a front end. "You would have to have quite complicated finances for Quicken or Money to be relevant to you," Mike McManus, Barclays' manager of current and savings accounts, said at the time. He added that the bank would develop its own Windows-based software in conjunction with Visa, using standard C programming.
However, last week the bank confirmed it will now offer its service using both a Barclays-developed front end and Money.
Explaining the bank's change of heart, McManus said: "Microsoft has moved from trying to take on the banks to a more collaborative approach." He believes the interface users choose will depend on how they came across the service, as the functionality of the two products will be similar.
Money '97, the next version of the software set to ship in mid-November, will advertise the Barclays service.
Users of Barclays' PC Banking service will be able to download up-to-date transaction details, analyse and display account history, pay bills, transfer money between accounts and set up and change standing orders.
The Barclays service will use back-end software for processing the transactions from Visa Interactive, which signed an agreement to use Money in February.
The Barclays service is the first fruits of that deal.
Microsoft already has similar deals with 35 banks in the US and several others in Europe, including the Midland. Although Midland has been working on its service for over eight months, it has yet to announce a launch date.
NatWest is trialing an Internet banking service based on software from Microsoft's arch-rival Netscape and TSB is running a similar service through CompuServe. In February Lloyds began piloting a handheld Electronic Cheque Book system it developed in conjunction with Psion.
UK PUBLIC FAVOURS PC BANKING SERVICE
New research commissioned by Visa shows that almost two thirds of the British public would like to use a PC banking service. The survey, conducted by Gallup and involving 1,900 respondents, predicts the primary use for home PCs in the next century will be to pay bills and manage bank accounts. PC teleworking and home shopping will also be popular.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago