TALL Group acquires cheque printing firm DLRS (NI) Ltd
DLRS (NI) is an established CPAS accredited cheque printer with an annual turnover of around £3 million. The company produces standard, personalised cheque and credit books for a number of leading financial organisations in the UK and Ireland. DLRS (NI) also produces secure documents for government applications.
The TALL Group of Companies has today strengthened its position as market leader in the provision of secure print and payment solutions with the acquisition of DLRS (NI) Ltd, based in Lisburn, Northern Ireland. The TALL Group has confirmed the takeover of the cheque printing firm from its parent company DLRS Ltd, who is headquartered in Bray, Ireland.
The acquisition enables the TALL Group, which comprises TALL Security Print Ltd and Checkprint Ltd, to add a range of standard cheque and credit books to the industry-leading portfolio of products and services it already provides to financial organisations in both the UK and internationally. No changes are envisaged to the existing DLRS (NI) operational model or its 24-strong workforce.
Martin Ruda, Managing Director of the TALL Group of Companies, said: “This acquisition is the start of another exciting chapter for the TALL Group and it ensures the business now has a fully operational capability for the production of standard cheque books. The company can look forward to a continued period of growth and the expansion of its geographical footprint driven by an increasing range of world class products and services.”
Banking industry will need to adapt to image-based cheque clearing
“The banking industry needs to move effectively to consider the implications of image-based cheque clearing, including potential fraud risk management in the new speedier clearing cycle.” That was a key message from Martin Ruda, Managing Director of the TALL Group of Companies, who delivered a presentation at this week’s Association of Foreign Banks (AFB) International Banking Conference.
By the end of July 2016, the cheque clearing industry is committed to accepting data and images, in lieu of the actual paper cheque, for those ‘in-cleared’ items which they may receive from that date, as the first stage of changes enabled by the newly enacted legislation. By the end of October 2017, all banks will be required to clear cheques on the image and data files alone, and no further paper cheques will be exchanged between banks in achieving the clearing process.
Martin Ruda said: “We are pleased the industry has committed to real progress in cheque clearing and image-based processing will be a huge success in the UK, much like it has been for many other countries across the world. However, the industry only has limited time before July 2016 to understand and prepare itself for the full implications of the new legislation.
“There are also still a number of questions that have to be answered. We are still in debate over the liability for fraud losses and responsibility for fraud detection, which may shift from the paying bank towards the collecting bank. It is unclear as to how clearing banks will operate the new model for their agency bank clients.”
The TALL Group is participating in the Cheque Printer Advisory Group, working with the Cheque and Credit Clearing Company (C&CCC) and sharing its expertise on cheque security features, image survivable content, and fraud detection in the image world.
Martin added: “Regardless of who has liability moving forward, the banking industry will be looking closely at new technology to detect and prevent fraudulent activity ahead of July 2016. The TALL Group is developing solutions to automatically detect potentially fraudulent alteration, or counterfeit cheques, and this will support the clearing banks and their clients to meet the requirements of the new clearing model.”
The AFB International Banking Conference is aimed at the senior management of financial institutions in the foreign banking sector and provides information on a variety of key issues that are relevant to the ways the banks in London are managed and controlled.