Lead Forensics

Challenger Banks Consider Industry’s Advice on Image-based Cheque Clearing Technology

16th November 2014

Challenger Banks have heard how they could facilitate market entry and development of payments solutions at the lowest cost and with the least infrastructure. The financial organisations received advice during the “Access to Payments” seminar, hosted by The TALL Group of Companies, the UK leader in the provision of secure paper and payment solutions, and First Capital Cashflow, the Direct Debit specialists.

The seminar, which took place at the Institute of Directors in London, provided a unique opportunity for some of the Challenger Banks to meet payments industry experts. In addition to the event organisers, attendees also heard presentations delivered by the Cheque & Credit Clearing Company (C&CCC), American Express, Capita and VocaLink. Representatives from a spectrum of banks attended the event, including established organisations such as Metro Bank and Handelsbanken, and others such as Atom, Shawbrook, Aldemore, who are relatively newer to market.

Attendees were also informed about the developments of image-based cheque clearing technology, the effects of incoming legislation that will allow businesses to pay in cheques digitally, and the resulting opportunities.

Martin Ruda, Managing Director of The TALL Group said: “With the imminent and very relevant change to cheque clearing processes, there is now a huge opportunity for Challengers to create a new and innovative deposit platform, without the need for extensive branch networks. By this we mean the ability for corporate, or potentially retail, clients to deposit cheques remotely, and receive accelerated clearing (potentially two days or less) with interest and funds availability without even visiting a branch.

“We have received positive feedback from the seminar and we are pleased that so many of Challengers were able to attend the event. We are planning similar events in the New Year. Thank you to everybody that took part.”

Throughout 2015, The TALL Group of Companies will be hosting additional payment seminars for banks and other sectors. For more information, please contact Dominic Coghlan atdominic.coghlan@checkprint.co.uk

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