Payments and Collections

Do you need to check your business customers’ bank account ownership?

Posted on Nov 25 2015 by

In a previous blog I discussed the case for checking the ownership of business bank account details when setting up and paying suppliers. But what if the businesses you are paying are not suppliers but beneficiaries? Who does this affect? There are a number of reasons why you might be paying other businesses, particularly if […]

Three reasons why you should check your suppliers’ bank account data

Posted on Nov 19 2015 by

It is now possible to check the ownership of business bank accounts, here are three reasons why you should check the bank account data of your suppliers: You don’t want to become a victim of invoice fraud Invoice fraud, sometimes called procurement fraud, occurs when a fraudster impersonates a supplier and submits an invoice that […]

Our top 5 payments blogs in the last 12 month

Posted on Oct 29 2015 by

Over the past year our Payments blogs have proved to be very popular. And while we now have quite a library of payments blogs these are the 5 that have received the most visits: In at number five is “What is a BIC used for?” following on from our post “What is a BIC?” this […]

Data analytics helps housing associations

Posted on Oct 23 2015 by

With the shift in housing benefit payments being made to individuals, coupled with recent welfare reforms and the rising cost of living, the risk of missing a rent payment has never been greater. Data analytics can help harness the power of your data to help you predict and safeguard individuals who may be experiencing financial […]

The Changing Face of Collections

Posted on Oct 23 2015 by

Good collections practices are an opportunity to combine sensible business with compassion – and it’s easier to be compassionate when you’re well informed.

Choose the optimal collections action for each customer

Posted on Oct 21 2015 by

It is essential for businesses to design and deliver collection strategies that find the balance between the needs and preferences of the customer and the needs of the business.

What are the five types of Card Not Present Transaction?

Posted on Oct 12 2015 by

Often when people think of Card Not Present transactions the focus is on the debit or credit card being in a different physical location from the merchant. This is not the full story, in a card transaction all three entities need to be considered; the cardholder, the card and the merchant.

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.