VocaLink’s strategy is to retain and enhance core payment processing services and develop new strategic capabilities. 2014 was a year of building on the foundations laid in 2013. We achieved major successes against this strategy during the year, including:
- Renewal of the core infrastructure provider contracts for the Faster Payments Service and Bacs Service
- Delivering the technology for the Paym mobile payment service, confirming our ability to deliver mobile and digital based solutions
- The launch of the VocaLink Immediate Payments Solution in Singapore, underpinning the Singapore “FAST” (real-time payments) platform
- Business in the Community: In March 2014 we achieved a 93% rating in the Corporate Responsibility Index, giving VocaLink Corporate Responsibility Gold status. This puts us on a par with top FTSE 100 companies and as a recognised leader in the financial services sector
- Financial performance remained strong with profit before tax (excluding Zapp development spend of £29.3m) up £4m (9%) to £46.3m. Cash balances more than doubled to £88.4m.
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