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02 April 2015

VOCALINK CEO DAVID YATES HONOURED AT FS TECH AWARDS

 
Cara O'nions,
Head of Marketing & Customer Insight,
VocaLink

VocaLink scooped another 3 prestigious accolades at the FS Tech awards last week.

Now in their 15th year, the esteemed awards recognise excellence and innovation in the field of information technology within the UK and EMEA financial services sector.

We were awarded:

‘Payments Innovation of the Year’ for our work on the Mobile Proxy Platform (Paym) built and delivered on behalf of the Payments Council.

People want to be able to pay who they want, when they want and have multiple electronic payment services to choose from. But many people have reservations about disclosing personal financial information, especially bank details. Moreover, there are concerns about if and where such information should be stored, for example, within a mobile payments app. The VocaLink proxy platform removes the need to store personal details within an application or payment channel, using only the mobile phone number as a unique identifier. This landmark industry infrastructure initiative has the potential to transform the future development of payment applications in the UK and beyond. Already there are plans to export the technology to other economies. The project commenced in October 2012 and the proxy platform went live 29 April 2014, with the launch in the UK of Paym, the Payments Council’s payments service that allows money to be sent using only a mobile number. Find out more about the service here.

 

‘IT Team of the Year’ for Current Account Switching Service (CASS)

The Current Account Switch Service heralds a new epoch in banking customer service. Now customers can switch banks free of charge and within seven working days. Customers wishing to switch provider know exactly what will happen and when. The service is guaranteed, reflecting total confidence in the underlying technology. VocaLink designed, built and implemented the infrastructure for the new service. This was a monumental technical project that needed to interface with all UK payments schemes. The project, started in 2011, had only two years to complete and was completed to the highest possible standard and this was accomplished on time and within budget. An expert multi-disciplinary bespoke team was chosen to deliver the project. This comprised 146 individuals, ranging from banking industry subject-matter experts to experienced customer-readiness professionals offering step-by-step guidance throughout the bank on-boarding process.

 

The Barry Holland Memorial Award for Outstanding Individual Achievement,

We are delighted to report that VocaLink CEO David Yates was honoured with this prestigious award in recognition for his work and contribution to the industry.

 

We would like to take this opportunity to thank each and every individual that contributed to these award-winning projects.

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