VocaLink provides ATM Managed Services and Service Bureau connectivity to Metro Bank
Friday, July 30, 2010London, 30 July 2010: VocaLink, the international specialist payments partner, has announced it is providing Metro Bank, the first new full service high street bank to enter the UK market in over one hundred years, with a one stop shop solution for all its payment needs. Metro Bank has outsourced the management of its ATM estate, domestic and international payments and debit card processing to VocaLink. Metro Bank opened its first branch on 29 July 2010 in London.
The VocaLink Service Bureau will provide Metro Bank with the fastest Straight-Through-Processing rates, as well as access to a comprehensive range of connectivity services, including SWIFT. The solution supports connectivity between Metro Bank, its customers and other clearing services that Metro Bank will participate in. By meeting all connectivity requirements through the VocaLink Service Bureau, Metro Bank will be able to boost productivity and minimise costs.
By selecting VocaLink's ATM Managed Service, Metro Bank will minimise overhead costs and maximise the revenue potential of its ATM estate. The service provides 24 hour network connectivity, ATM device monitoring, incident management, ATM maintenance, consumables supply and cleaning services. VocaLink's card issuing capability includes support for Metro Bank's debit card instant issuance proposition creating a market leading proposition in the UK.
Craig Donaldson, CEO of Metro Bank, comments: "As we enter the market with the UK's first new high street retail bank in over one hundred years, it is reassuring to know that we can rely on VocaLink for providing all of our payment needs. With over 40 years' heritage in electronic payments, VocaLink's smart solutions will form the lynchpin of our plans to revolutionise the UK retail banking market. Their card issuing service will allow us to to give our new customers a debit card within 15 minutes of entering our branches providing our customers the best possible service."
David Conkleton, Managing Director Card Services at VocaLink, said: "We are delighted to be working with Metro Bank whose arrival represents a landmark moment in the UK retail banking industry. With our success in the payments arena over the last four decades Metro Bank can be confident of providing a first class service to its clients, supported by VocaLink's ATM Managed Service and Service Bureau,"
Metro Bank plans to open a further twelve stores over the coming two years and aims to have a branch network of more than 200 stores within a decade.
VocaLink is a specialist payments partner to banks, their corporate customers and government departments. We design and deliver smarter domestic and international automated payments systems, and smarter ATM switching solutions.
In fact, our switching platform connects over 60,000 ATMs, the world's busiest network, while our payments platform processes over 500 million payments per month.
Having pioneered electronic payments for over 40 years it's perhaps no surprise that many major organisations have come to rely on our services. For example, our Real-time Payments Platform is the central infrastructure for the UK's Faster Payments Service, whilst we've partnered with BGC, Sweden's leading payments provider, who now outsource the majority of Sweden's domestic payments to us. We are very proud of our service delivery record. Our platforms operate on never-fail technology to ensure total reliability and availability 24 hours a day allowing us to meet our customer needs.
In short, our smarter payments capabilities offer banks, corporates and government departments reach throughout SEPA and beyond.