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Advancing data analytics in the payments industry
Data analytics has failed to keep pace with developments in the payments industry. Despite a number of initiatives, data analytics remains the weak link in the payments process.

AUDDIS - an overview
AUDDIS, the Automated Direct Debit Instruction Service, allows Direct Debit Instructions (DDIs) to be electronically transferred between Originators and paying banks...

Bacstel-IP - an overview
Bacstel-IP was launched in 2003 as a direct replacement to the existing Bacstel delivery channel. All Direct Debit Originators and Direct Credit users who currently submit to Bacs must migrate to Bacstel-IP by the end of 2005...

Bacstel-IP - validation requirements
Under Bacstel-IP, rigorous payment file validation is an absolute requirement and has been introduced by the industry in order to reduce the number of rejected files and failed payments...

Bacstel-IP - business continuity and disaster recovery
For most organisations, it is imperative to maintain an uninterrupted service to Bacstel-IP due to the critical nature of their payment applications...

Bacstel-IP - communications
With Bacstel-IP, Internet Protocol (IP) replaces these legacy protocols, requiring all organisations to change key aspects of their Bacs communication infrastructure...

Bacstel-IP - health-check
Ensure that you are optimising your use of Bacstel-IP, by arranging a Bacstel-IP system Health-check with one of our experienced consultants.

Bank Identifier Code, BIC code (BIC) - an introduction
The Bank Identifier Code also known as a BIC or BIC code is a universal method of identifying financial institutions in order to facilitate the automated processing of payments...

BIC and IBAN - conversion
For organisations within the Eurozone the requirement to use BIC and IBAN as the standard international and domestic account identifiers has been put in place.

Data quality - options for validation
All automated banking services, including Direct Debit and Direct Credit schemes, rely on organisations submitting accurate payment data...

Data validation - why is it so important?
The efficiency of an automated payments process is reliant on the input of accurate data. Data validation is the only way to ensure that the information captured is accurate.

Direct Debits and Direct Credits in the UK - the hidden cost
The Direct Debit (DD) and Direct Credit (DC) schemes are highly favoured by UK organisations. By automating payments and receipts, organisations can achieve high levels of efficiency, optimise cash flow and minimise risk.

Faster Payments guide - PDF download
At present Bacs offer a three day payment clearing system: instruction on day one and payment early on day three. Faster Payments will provide an additional, near real-time payment system.

Faster Payments UK - mandatory changes for payments
Faster Payments is a new service, introduced mid-2008, which will enable users to make near real-time payments in the UK.

Faster Payments - the key role of data validation
Data validation has a key role to play in ensuring the success of the Faster Payments initiative…

Hardware Security Modules (HSMs)
HSMs are an established technology, widely used throughout the financial services sector. They provide a ‘tamper proof’ technology that enables the secure communication of sensitive information...

IBAN (International Bank Account Number) - an introduction
An IBAN or International Bank Account Number is a series of alphanumeric characters that uniquely identifies a customer’s account held at a bank anywhere in the world...

Looking back - a decade of change in the payments industry
The growth and success of Experian Payments since its launch in 1997 mirrors the transformation in the way UK businesses and consumers pay for goods and services.

IBANs - a giant leap or a first step?
While International Bank Account Numbers (IBAN) take the banking industry a giant leap towards consistent STP (Straight Through Processing), there are some misconceptions about just how reliable they are.

Modulus checking - an introduction
Modulus checking is a procedure for applying a mathematical algorithm to an account number (or an account number and sort code combination) to check that it is valid for a particular range of sort codes...

Paperless Direct Debit - an overview
Paperless Direct Debit has revolutionised the payment process for many organisations. A Direct Debit Instruction can now be implemented without the need for paper instructions...

Real-time bank account verification for the UK
Bank Wizard Absolute from Experian Payments will reduce significantly both transaction errors and payment fraud.

Bacstel-IP - implementing effective report management
All the reports available through Bacstel are available through Bactsel-IP however under Bacstel-IP they are delivered in different formats...

Roll number validation - why is it so important?
Many organisations make electronic payments to personal UK bank or building societies ranging from staff wages to supplier payments...

Mandatory use of BIC and IBAN comes a step closer
A quiet revolution in banking standards is underway throughout Europe. So quiet in fact that news of the latest twist in European banking practice is only now slowly seeping out to many corporate banking customers who will become acutely affected by it

Setting SEPA Straight
The timetable for the introduction of the Single Euro Payments Area (SEPA) may already be slipping, but there are practical steps that could be taken to ensure the project remains on track

SWIFT for all - the new business case
Our free guide to how corporate organisations can cost-effectively take advantage of SWIFT

Transposing account numbers - what is transposition and how does it work?
A significant number of account numbers and sort codes must be transposed from the form in which they are issued to the payer into the form required by Bacs for the actual processing of the Direct Debit or Direct Credit payments...

Validation issues for direct debit originators
The weakest link in any automated payment process is at the point where payment details are entered manually...

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