Farewell to physical cheque processing as it goes digital

Farewell to physical cheque processing as it goes digital

Intelligent Processing Solutions Limited (iPSL), a UK-based cheque clearing firm, plans to close down seven of its nine locations in 2018. This puts 600 jobs at risk, according to trade union Unite.

iPSL is majority owned IT giant Unisys, which itself is going through a massive downsizing exercise.

The company says the plan is part of a programme to introduce an image clearing system for cheques in October 2017, enabling digital images of cheques to be processed instead of physical paper.

This “will remove the requirement for remote data capture and processing, therefore reducing site requirements and a subsequent reduction in staffing numbers”, iPSL explains.

The plan is yet to be signed off and the staff numbers finalised. Unite expects iPSL’s sites in Northampton and Northfields to continue operating, whilst those in Bootle, Bradford, Camberley, Chelmsford, Clydebank, Copley, and Tweed House to be shut.

@banking
techno