Saturday, June 15, 2024

New participant joins the Image Clearing System

The Access Bank UK Limited has today (30th July 2018) become a full participant of the Cheque and Credit Clearing Company’s Image Clearing System, bringing the total number of participants in the ICS to 18. The Access Bank UK Limited is a wholly-owned subsidiary of Access Bank Plc, a Nigerian Stock Exchange-listed company, and the UK plays a key role in the group’s vision to be the world’s most respected African bank. Central to this aspiration is the organisation’s focus on service and commitment, to build long-term relationships with its business and consumer customers.

The Image Clearing System was launched in the UK as a phased roll-out on 30th October 2017. As banks and building societies connect their various deposit channels into this new clearing infrastructure, it enables them to exchange images of cheques electronically for clearing and payment, significantly speeding up the clearing process.

Alan McDonald, General Manager of the Cheque and Credit Clearing Company, said:

It is great news that The Access Bank UK has become a participant in the Image Clearing System. Simplifying the payments marketplace and reducing barriers to entry is one of our key business objectives, so we are pleased that our participant numbers continue to increase through opening up access to cheques for banks, building societies and non-bank payment service providers alike.

The Access Bank’s UK Managing Director and Chief Executive Officer, Jamie Simmonds, said:

Today marks another key development for The Access Bank UK as we join the Cheque and Credit Clearing Company’s Image Clearing System, a move which follows a year of significant all-round growth for us in 2017. Our ethos is based on building the trust and loyalty of our customers and we have a clear commitment to strong customer service. Joining the Image Clearing System is yet another example of this approach, as we further improve and increase the services we offer.

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