Bacs Payment Schemes Limited (Bacs) today announces that its Affiliates Interest Group (AIG) is succeeding in meeting all its stated objectives and is functioning well as a direct source of information for its participants.
Established eighteen months ago, the AIG is a forum for users of Bacs services to communicate with the organisation behind Direct Debit and Bacs Direct Credit.
Membership of Bacs' AIG is open to anyone with an interest in Bacs payment schemes including consumer bodies, businesses, banks and government departments. A two-way mechanism, the group gives Bacs and its affiliates the chance to brief one another on pertinent industry issues. It also helps ensure that any decisions made by Bacs about products and services, are contemplated in full light of the views of businesses and consumers that may be impacted by any change.
Research from Bacs reveals that affiliates are satisfied with the workings of the group and feel that it provides definitive information about automated payment issues. They also agreed that Bacs provides services that are relevant to its users and that feedback passed through the AIG is given due consideration by the organisation.
There are currently 32 Bacs affiliates including representatives from some of the UK's leading businesses, banks and building societies, plus government organisations and a variety of banking technology providers.
Commenting, Malcolm Durney, Head of Banking Services and Management Expenses at Standard Life Plc. said: "Hearing about industry initiatives first hand and getting advance notice of any imminent changes within the automated payments industry is invaluable. Being a member of the Bacs AIG allows us to input into topical debates on themes including regulatory developments and scheme innovation. It is also an exceptional outlet for networking and forging deeper relationships across the industry."
Commenting, Michael Chambers, managing director of Bacs, said: "Our AIG was originally set up to give businesses and consumer groups more say in decision making at Bacs. The group is now thriving as a two-way channel for direct engagement with our stakeholders and anyone with an interest in Bacs. It is an integral part of our governance structure and is a useful tool for road testing our ideas for innovation against the opinions of knowledgeable and experienced contacts. We are delighted with its success to date and look forward to nurturing the spirit of co-operation it represents."
Research conducted by Bacs into the smooth running of the AIG will be used to guide the direction of future group discussions.