NatWest offers online copyright protection

NatWest will today launch Magex, an Net-based service which promises copyright protection for online publishers.

The service ensures publishers receive royalties for online content, using Intertrust technology to restrict access to material, along with NatWest's own micropayment system.

However, Magex said it will not accept liability for copyright infringement, although it guarantees secure payments. Andrew Farrow, Magex's head of commercial development, said: "We are effectively a distribution service."

Farrow said three global suppliers of business information have already signed up to the service. Clients from the music industry are set to be unveiled later this month, with software customers unveiled later this year.

According to Farrow, the project is the result of 18 months' planning. "We predicted the market would be here by now, and we were right. This goes way beyond mail order services," he said.

Michael Walton, MD of Internet consultancy, NVision, commented: "No other bank is in this area, although they are all looking at expanding their ecommerce services. NatWest is wise to make this move, as the traditional revenue of retail banks is about to start going down very rapidly."

Walton said UK banks are under attack from all sides, with online financial services being offered by US banks, and a review of UK financial regulations underway.

Farrow denied Magex is intended to compensate for a decline in NatWest's traditional revenues.