News & Views - Savantor

Technology and alternative solutions

Tuesday, 09 June 2015
In these days of technological advancement, the cheque stands out as an anomaly waiting to be withdrawn or replaced from general use. Previously the Payments Council attempted to do just this by announcing the closure of central cheque clearing by 2018. This resulted in such an outcry that the directive had to be rescinded. So currently, the cheque remains an accepted method of payment. Last year Barclays introduced mobile cheque payments for iPhone users, for cheques paid from one Barclays account to another. More than 30,00 customers signed up to use the system and the Bank plans to roll out similar functionality for Android users in the coming months. This week Lloyds also signalled its intention to introducing mobile phone payments, by announcing a four-week pilot scheme for staff to test the system with another trial planned in the autumn, also potentially involving customers. Apparently the technology is under consideration by the industry in order to launch an industry-wide mobile imaging system in July 2016. Whilst we can all think of ways around the use of paper cheques, nevertheless the public as a whole did not support their abolition and therefore it is positive to see that newer technologies are being explored to improve the cheque process. Not only will it save Banks’ money and customers’ time, it can be seen as particularly helpful for customers who may no longer have a local branch nearby. Yet it could also be said that the removal of another reason for customers to visit their bank branch, can only assist in the potential closure of Bank branches as Banks find more ways to service customers in a non face-to-face manner. According to new research from the BBA, banking by mobile devices has overtaken branches and the internet as the most popular way to bank. Yet there will always be customers, particularly amongst the older age groups, who struggle with ‘technology’ and need to be able to deal with a human as opposed to a machine or an automated telephone system. The payments world is going through an exciting and fast moving transition period thanks to the new technologies that are being developed and introduced to automate systems and processes. However, it should not be assumed that everyone is able to use these technologies and adequate alternative solutions must be retained as an alternative.
Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Payments Platform Strategy and Sourcing

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with our team and actively contribute. Their experts quickly forged strong working relationships and delivered to our brief. We enjoyed working with them to develop our future platform strategy."

Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Issuer and Acquirer Transformation - Assessment and Mobilisation

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with a diverse team from across the bank and actively contribute. I am pleased to say that Savantor was able to deliver on our needs as well as being good people to do business with."

Lars Bostrom, Head of Cards - Nordea - Scandinavia

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

Card Migration

"I was impressed by the speed with which the Savantor team were able to start delivering and as a team they have made a significant contribution to the success of the Programme."

Bjorn Niels, Programme Director - ABN AMRO Bank - The Netherland

Acquirer Specialist Support

"OP-Pohjola Group has used Savantors help in numerous different specialist projects differing from risk assessment to management tool creation to transaction analysis. We have been very satisfied by the quality of the service provided by Savantor's experts."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.