Building a secure and resilient Bacs process
Avoid threats to your business from unanticipated interruptions to payments
Does your Bacs provider ensure seamless processing across every payment transaction?
Operational resilience isn't just a feature of your payments process; it's the lifeline that keeps your business thriving through unforeseen disruptions. Fortifying your Bacs processes can be the difference between business growth and vulnerability.
25% growth
in the total number of Bacs industry-to-industry payments since 20161
5B Bacs Direct Debit payments
are forecast by 20322
>80% of individuals
in the UK receive their wages through Bacs Direct Credit transfers, underscoring the need for payments security3
1 “Industry-to-Industry Payment Flows, UK: 2016 to 2023, Experimental Data and Insights.” Office for National Statistics, 6 December 2023.
2 “UK Payment Markets Summary 2023.” UK Finance, September 2023.
3 Pay.UK, www.bacs.co.uk/bacs-schemes/bacs-direct-credit/paying-by/
Explore how Finastra Bacsactive-IP delivers a sophisticated yet resilient solution
Bacsactive-IP is an ideal solution for any organisation – for large companies processing millions of transactions every day, to small businesses managing their payments and Direct Debits. Handling payments for more than 3,000 businesses with 30,000 users, and processing over £500 billion of transactions a year, Bacsactive-IP can handle simple, low-volume payments right through to mission-critical payment operations that require complete automation and sophisticated authorisation.
Go smartcard-free
Building on our proven cloud-based technology, Bacsactive-IP+ gives you complete control of your payments wherever you are. This module provides all the benefits of Bacsactive-IP with the addition of simplified workflow and enhanced security to enable automation and remove the need for smartcards.
Confirmation of Payee
Enhance your Bacs processing by catching errors at the point of entry for quicker resolution in real-time. The result is fewer failed transactions and less time fixing unpaid Direct Debits or tracking down incorrectly made payments.
Complete automation
Our solution offers easy integration and automation with your back-office systems, and our wide range of optional modules allows your organisation to further automate processes and build the most effective payment process to suit your needs.
Building a secure Bacs payments process: The cornerstone of business stability
Operational resilience—the ability to quickly adapt to and recover from unforeseen circumstances—is particularly important in the UK market, where Bacs serves as a primary method for making recurring electronic payments. A proactive approach is essential to preserve trust and confidence with the consumers, employees and businesses who depend on these systems. Also critically important is finding the right payment solution provider who becomes a strategic partner to your business.
Streamline and automate processes with Confirmation of Payee
Automate bank account verification and eliminate errors that lead to delays and disruption in automated recurring payments.
Contact us to learn more about our award-winning Bacs solution.
