22 April 2018
Nick Ogden

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Nick Ogden - ClearBank

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Time to cheque out for Christmas

21 December 2009  |  4299 views  |  0

As we sit back and relax this Christmas a topic of conversation that is likely to rear its head over the festive Ogden dinner table will likely be the demise of the cheque. With several generations at the table it will be interesting to hear the different perspectives and reactions to the news, especially between the grandchildren and grandparents!

For me, the end of the cheque highlights the natural evolution towards a cashless society. As well as the use of cheques falling significantly over the course of the decade, owing to more and more people making payments electronically and online, beleaguered banks and businesses will save a substantial amount of money and time in processing payments.

Whilst there is clearly an air of trepidation and concern from the public at the news the next few years will undoubtedly see a wave of innovation in regards to new payment methods being introduced as viable alternatives to the aged cheque. Which ever way it goes it is safe to assume that along with cheques, the authorisation of payments by signature is soon to become a thing of Christmas past.

Merry Christmas and an exciting 2010 everyone!

 

 

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job title Executive Chairman
location London
member since 2012
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I am passionate about business change and have been fortunate to have had some success with my various start up ventures. I am also fortunate to be a director of the UK Faster Payments Scheme.

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