London, 15th September 2005: Voca, the company that processes all Direct
Debits and over 90% of salaries in the UK on behalf of its principal
customer BACS Payment Schemes Limited delivered the most significant part of
the company's technology renewal programme to date. All of the clearing
banks in the UK are now live on Voca's new Reference Data 1.0 service. The
service centralises processing databases of banking information to
streamline transactions and reduce costs. Benefits to banks include
administrative savings, faster access to payment information online, for the
first time, and a significant reduction in exception reports which are an
unnecessary business cost.
This is the largest release in Voca's technology programme to date. The new
innovative infrastructure is modular, scaleable and functionally flexible
enough to be used across multiple European processing Schemes and volumes.
To deliver it on time this implementation stage was expertly supported by
the banks' internal teams working with Voca staff and its technical
A second milestone was achieved with the management information (MI) and
charging system going live. This new management information reporting system
greatly improves the delivery of data to banks and their ability to mine the
data for business critical information.
These releases took place at the same time as Voca's daily processing volume
reached a new daily high of 72,077,603 items which were cleared without
incident or impact on the renewal programme.
The next release planned for Q4 2005 will deliver more new functionality
including the bulk collection of reports, to streamline payment processing
for large organisations such as telecommunications companies. Over the
remainder of the programme, Voca will deliver further functionality and
updates to Reference Data, but on a smaller scale.