The Cheque and Credit Clearing Company (C&CCC) has launched an industry-wide image-based cheque clearing system to speed up processing for customers across the UK. The new system will go live with some banks and building societies from 30 October 2017. Then, at some stage in the second half of 2018, all of the UK’s banks […]
Impersonation and deceptive double-dealing play their mischievous part in creating massive amounts of financial fraud in the UK. According to figures from Financial Fraud Action UK (FFA UK), losses across payment cards, remote banking and cheques totalled £768.8 million in 2016, an increase of 2% on the previous year. Katy Worobec, director of FFA UK, […]
VocaLink and BancTec, a part of SourceHOV, a provider of enterprise information management (EIM) and transaction processing solutions, will build the UK’s new image-based cheque clearing system. As Banking Technology reported this month, the Cheque and Credit Clearing Company (C&CCC) launched the industry-wide system to speed up processing for customers across the country. Paul Stoddart, […]
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Hitachi and the Bank of Tokyo-Mitsubishi UFJ (BTMU) have started proof of concept (PoC) testing for using blockchain in the digitalisation of cheques in Singapore. In this PoC testing, Hitachi and BTMU developed a system in which a blockchain infrastructure is used for issuing, transferring and collecting electronic cheques. BTMU issues and settles them, while […]
US-based banking software vendor, Jack Henry & Associates, is shedding its deposit automation business, Goldleaf Enterprise Payments (formerly Alogent Corporation). The buyer is Battery Ventures, a US/Israeli venture capital and private equity firm. The company is regaining is former name – Alogent. Alogent’s back office software focuses on electronically capturing, processing and analysing cheque data […]
RBS has awarded a contract to Hewlett Packard Enterprise for the implementation of a new image-based cheque clearing service in response to UK regulatory changes that require all cheques to be processed digitally by 2017, under HM Treasury’s Future Clearing Model.