Payments and Collections

What is a BIC used for?

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...

Blog - Sep 2015
Current account switchers top two million within two years of…

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...

Blog - Sep 2015
Treating your customers fairly, don’t let them fall into a…

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...

Blog - Aug 2015
How to choose the right contact strategy when there are…

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...

Blog - Aug 2015
What does Straight-Through-Processing mean to you?

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...

Blog - Aug 2015
Collections prevention is better than cure

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...

Blog - Jun 2015
M-commerce and the fraud challenge

Mobile represents a huge opportunity for retailers as more and more people use multiple, mobile devices to make purchases on the...

Blog - Jun 2015
Why safeguarding against a data breach is worth every penny

Despite dramatic rises in the number of data breaches, most businesses think they are protected but as it turns out many are not, with one in three (34%) without even a data breach response plan in...

Blog - Jun 2015
Protect your customers with affordable repayment plans

With a clear requirement to assess affordability, the challenge for organisations is to do this as quickly and effectively as possible. A streamlined affordability assessment process will allow you...

Blog - Jun 2015
Embrace digital collections

To connect with a new generation of borrowers, lenders need to introduce and embrace digital processes, and that includes adapting existing collections...

Blog - Jun 2015
How internet security concerns are impacting payment submissions

Hardly a day goes by without a data breach story. There’s widespread concern over the exposure of sensitive and often personal data. The internet industry is responding by implementing new minimum...

Blog - Jun 2015
Be more agile with an automated collections process

Being prepared for potential spikes in collections demand is essential to maintaining an agile and responsive organisation. Our four steps to a more automated process may seem simple, but could make...

Blog - May 2015