Bacs Affiliates Interest Group (AIG) set for continued success

Bacs Payment Schemes Limited (Bacs) today announces that its Affiliates Interest Group (AIG) is succeeding in meeting all its stated objectives and is functioning well as a direct source of information for its participants. Established eighteen months ago, the AIG is a forum for users of Bacs services to communicate with the organisation behind Direct Debit and Bacs Direct Credit.

[ClickPress, Thu Oct 04 2007] Membership of Bacs’ AIG is open to anyone with an interest in Bacs payment schemes including consumer bodies, businesses, banks and government departments. A two-way mechanism, the group gives Bacs and its affiliates the chance to brief one another on pertinent industry issues. It also helps ensure that any decisions made by Bacs about products and services, are contemplated in full light of the views of businesses and consumers that may be impacted by any change.

Research from Bacs reveals that affiliates are satisfied with the workings of the group and feel that it provides definitive information about automated payment issues. They also agreed that Bacs provides services that are relevant to its users and that feedback passed through the AIG is given due consideration by the organisation.

There are currently 32 Bacs affiliates including representatives from some of the UK’s leading businesses, banks and building societies, plus government organisations and a variety of banking technology providers.

Commenting, Malcolm Durney, Head of Banking Services and Management Expenses at Standard Life Plc. said: “Hearing about industry initiatives first hand and getting advance notice of any imminent changes within the automated payments industry is invaluable. Being a member of the Bacs AIG allows us to input into topical debates on themes including regulatory developments and scheme innovation. It is also an exceptional outlet for networking and forging deeper relationships across the industry.”

Commenting, Michael Chambers, managing director of Bacs, said: “Our AIG was originally set up to give businesses and consumer groups more say in decision making at Bacs. The group is now thriving as a two-way channel for direct engagement with our stakeholders and anyone with an interest in Bacs. It is an integral part of our governance structure and is a useful tool for road testing our ideas for innovation against the opinions of knowledgeable and experienced contacts. We are delighted with its success to date and look forward to nurturing the spirit of co-operation it represents.”

Research conducted by Bacs into the smooth running of the AIG will be used to guide the direction of future group discussions. Anyone interested in finding out more about the Bacs AIG or wanting to know how to join the group should visit: http://www.bacs.co.uk/BACS/Corporate/Join+Bacs/Bacs+Affiliate/?st=unxjlhi3ew3tub55jvucrayq&c=

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About Bacs:
Selected as a 2007 Business Superbrand, Bacs is a not-for-profit, membership-based industry body, owned by 13 of the leading banks and building societies in the UK and Europe. For almost 40 years, Bacs has been at the heart of the payments industry. It is responsible for the schemes behind the clearing and settlement of automated payments in the UK and maintaining the integrity of payment related services.

Almost 5.5 billion payments a year are made through Bacs’ principle schemes, Direct Debit and Bacs Direct Credit, equating to approximately £3.4 trillion in 2006. In June 2007, the number of transactions processed in one day hit an all time high of more than 83 million.

For further information please visit www.bacs.co.uk or go to www.thesmartwaytopay.co.uk, the home of The Smarts, an animated family who use automated payments to help improve financial management and control.


More about Direct Debit:
A Direct Debit is an instruction from a customer to their bank or building society authorising an organisation to collect varying amounts from their account. This can be used to ensure regular, safe and efficient payments of anything from household bills to charitable donations. Over 2.8 billion Direct Debit payments are processed by Bacs a year and 75 per cent of adults now have at least one Direct Debit commitment. For further information on how to set up a Direct Debit to help keep accounts in order, please contact your bank or building society.



More about Bacs Direct Credit:
Bacs Direct Credit is mainly used for paying wages and salaries - in fact over 90 per cent of the UK workforce is paid via Bacs Direct Credit. In total, Bacs Direct Credit is used for paying four million wages every week and nearly 25 million salaries a month.

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