Payments and Collections

SEPA UK – why multi-level validation of bank account data matters

Posted on Oct 01 2015 by

With SEPA coming to the UK for Euro payments we take a look at why it is necessary to validate information at both the IBAN (International Bank Account Number) and BBAN (Basic Bank Account Number) levels.

What is a BIC used for?

Posted on Sep 21 2015 by

In a previous blog we answered the question ‘what is a BIC’ (Business/Bank Identifier Code) but we didn’t delve into the detail about what a BIC is used for. As we saw in the last blog, a BIC is used to identify a specific business, most commonly a bank, and in some cases a specific […]

Current account switchers top two million within two years of seven-day service launch

Posted on Sep 16 2015 by

More than two million bank customers have opted to use the seven-day account switching service within the first two years of the service’s launch.

Treating your customers fairly, don’t let them fall into a debt trap!

Posted on Aug 26 2015 by

Regulatory bodies are focusing increasingly on treating customers fairly which has resulted in a deepened scrutiny on businesses across a variety of sectors. One of the main challenges organisations face is that they need to determine if a product is suitable based on initial and ongoing assessment of individual circumstances while still providing customers with […]

Three key reasons to check bank account data

Posted on Aug 21 2015 by

There are many instances where companies need to take bank account information from people, typically bank account data is required to set up a direct debit or a credit transfer.

How to choose the right contact strategy when there are more possibilities than there are stars in the universe

Posted on Aug 17 2015 by

Customers are individuals, with specific behaviours and preferences which dictate how, and when, they want to be communicated with. However, with potentially many millions of customers (or prospects) with whom to communicate, many different channels available, a multitude of messages and products, as well as limits on the volumes and timings of when those messages can […]

What does Straight-Through-Processing mean to you?

Posted on Aug 14 2015 by

In the payments industry, efficiency is typically measured by assessing the level of Straight-Through-Processing, or STP.  That is, the percentage of transactions that are passed straight through the system from start to finish without manual intervention.

Contactless cards and data theft – what’s the problem?

Posted on Jul 24 2015 by

The mainstream press have been all of a flutter, with the story that fraudsters with scanners can walk down the street and steal card data from contactless cards while we go about our daily business. But how much of a problem is this? Who suffers the most loss?  And what can be done to protect […]

Collections prevention is better than cure

Posted on Jun 26 2015 by

An effective collections prevention strategy helps to identify those at risk of defaulting before the worst happens, so you can take measures to help them meet their obligations.

M-commerce and the fraud challenge

Posted on Jun 23 2015 by

Mobile represents a huge opportunity for retailers as more and more people use multiple, mobile devices to make purchases on the go. Purchases on mobile devices has increased by 10 per cent in the last year alone – a trend that is set to continue as further people switch to using their mobile devices for […]