Introduction
LINK Corporate History
The LINK ATM network
Transaction Management Services

Introduction
LINK Interchange Network Ltd is the transaction management Company behind the LINK ATM network. It is the corporate organisation that services the ATM network by switching and providing settlement for shared transactions between the members of the network. It provides the central hub, the telecommunications infrastructure and management information to its network customers.

The LINK ATM network is identified by the familiar LINK brand, which according to research has a 92% awareness level among the general public. LINK switches and performs settlement for shared online transactions on behalf of the 51 Network Members (customers) who have in excess of 55,000 ATMs deployed in the UK and have issued around 101 million LINK enabled ATM debit cards to their customers.

Switching online, fully-authorised, real-time ATM transactions for the LINK network is the Company's core business. LINK also provides gateway services to key international payment systems (VISA and MasterCard) and runs a separate business unit - ATMOS - which provides authorisation and card issuing services in addition to outsourced ATM operating services. Transaction management volumes have grown substantially over the last decade and now stand in excess of 220 million transactions per month, making LINK Interchange Network Ltd the largest volume ATM switching company worldwide.
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LINK Corporate History
LINK originated in 1985 as a company limited by guarantee owned by Abbey National Building Society, Girobank, Funds Transfer Sharing (FTS - a consortium of smaller building societies), Co-Op Bank and Nationwide Building Society whose objective was to build a shared ATM network. LINK differed from the other networks in that it operated a central switch rather than a series of bilateral connections, and all transactions were online. The original switch was outsourced to BT. The other shared networks operational at about the same time were Matirx (limited to building societies), "MINT" (Midland, NatWest and TSB banks) and "Four Banks" (Barclays, Lloyds, Royal Bank of Scotland and Bank of Scotland). Halifax and Clydesdale Bank subsequently joined the LINK ATM network and, in 1989, the LINK and Matrix networks merged.

In 1991 LINK moved from London to Harrogate, and at the same time, the BT switch contract was terminated with production moving in-house. During the course of the 1990s there were a series of bank mergers, and by the end of 1998 - following lengthy negotiations - members of the two remaining ATM networks (MINT and Four Banks) agreed to join the LINK network. At this point (1998) LINK Interchange Network Ltd was established in its present form (i.e. as a company limited by shares) and it is now owned by 22 financial institutions including all the major banks.
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The LINK ATM Network
The LINK Network - currently comprising 51 member institutions, including banks, building societies and Independent ATM Deployers (IADs) - offers access to around 55,000 UK ATMs. LINK processes over 2.5 billion ATM transactions each year and is the only shared branded ATM network in the UK.

The network has selected world class fault tolerant hardware and software combination to run the on-line switching system. This hardware and software provides a highly resilient switching capability. Connecting to LINK is facilitated across a proactively managed and highly resilient telecommunications network. The LINK technical infrastructure is replicated at an independent Disaster Recovery facility that ensures rapid recovery in the event of a major incident. The system consistently exceeds the target 99.85% availability and 100% switch availability has been achieved for the last 36 months.

The LINK system is flexible, allowing the rapid connection of new members and reciprocity partners. The current switch architecture readily allows expansion for increased transaction volumes and new members.
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Diversified Transaction Management Services
There is no doubt that the existing ATM switching business remains the primary focus of attention. Switching secure online ATM transactions is the core business of the company and provides its principal revenue. However, in addition to looking for opportunities to develop and grow the range of existing services, LINK Interchange Network Ltd. is gaining a foothold in the broader payment systems market to ensure its future success.

LINK is looking to support a new generation of market opportunities being made possible by the emergence of new electronic payment systems and devices. LINK's competencies in network infrastructure management, reliable and secure technology and its successful operation of a 24-hour, 365-days a year, online, fully authorised transaction service at high volume levels are allowing the Company to develop new market opportunities within the financial services sector.

LINK currently provides connectivity between the Post Office and banks, enabling holders of basic bank accounts to use the network of 15,000 Post Office counters for basic banking transactions. The Company is also providing over-the-counter transaction management services to for Mutual Plus (the new branch-sharing service launched by Britannia and Yorkshire Building Societies in 2001) and is in discussion with a number of organisations to develop a range of transaction services via new channels and devices.
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Copyright (C) LINK Interchange Nework Ltd 2005