VocaLink Restructures Company to Support International Growth
By Vocalink, PRNESunday, November 15, 2009
LONDON, November 16 - VocaLink, the payment transaction specialists, today announced a
restructuring of the company in response to international market demand for
modern payment services. Effective from 4 January 2010, VocaLink will be
organised around three strategic businesses reporting directly into Chief
Executive Officer, Marion King, focusing on Euro Services, Clearings and
Cards. These businesses will serve both the UK market and growth
opportunities, especially in Continental Europe.
Payments expert Fred Bär will be Managing Director of the Euro Services
business. Before joining VocaLink earlier this year, Fred held senior
positions at EBA Clearing and Equens. The Euro Services business is of
particular strategic importance for VocaLink as the company evolves to
reflect increasing demand for its payment services in the rest of Europe.
Through its new European Centre in Amsterdam, VocaLink will be more able to
serve customer demand for its real-time payments and SEPA valued added
services.
Nick Masterson-Jones who has been with VocaLink since 2003 and who led
the successful launch of the Faster Payments Service will be Managing
Director of the Clearings business. David Conkleton, who previously held
senior roles at EDS and Parity and brings over 20 years of experience in the
IT and financial services industry, has recently joined the company and will
lead the Cards business. The Clearing and Cards businesses will not only
provide operations for existing schemes in the UK such as Bacs, Faster
Payments and LINK, but will also be responsible for the commercial growth of
these business units in the UK and internationally.
This restructure will allow VocaLink to operate more effectively
internationally and will centre the company around the needs and expectations
of its growing customer base. With all three managing directors reporting
directly into Marion King, VocaLink will have simplified internal processes
enabling the company to be more agile and responsive to market demands.
Having made a significant contribution to VocaLink over several years,
Martin Wilson, the company's Chief Commercial Officer has decided to move on
to pursue new opportunities outside of the company.
Marion King, Chief Executive Officer of VocaLink, said: "It has become
evident over the past two years that transaction banking has provided a
resilient and stable basis on which banks can build a competitive business.
As a recognised leader and innovator within the payments industry, VocaLink
has helped many banks throughout Europe deliver this success. At the same
time, we recognise that to continue to serve our customers and the payments
industry to the best of our abilities, we need a structure that reflects
market requirement. Led by experts in their fields, our three businesses will
allow VocaLink to not only meet customer and market demand but will enable
the company to continue to grow internationally in coming years. I would also
like to take this opportunity to thank Martin Wilson sincerely for his
outstanding contribution to VocaLink."
About VocaLink
VocaLink is a specialist provider of transaction services to banks, their
corporate customers and Government departments. It processes domestic and
international automated payments and provides ATM switching solutions. On a
peak day, the VocaLink automated payment platform processes over 90 million
transactions and over half a billion in a month. Its switching platform
connects the world's busiest ATM network of over 60,000 ATMs. Its Real-Time
Payments platform provides the central infrastructure for the UK Faster
Payments service. VocaLink is working with BGC to provide outsourced
processing for the majority of Sweden's domestic payments.
Having pioneered electronic payments for over four decades, many of the
world's top banks and their corporate customers rely on VocaLink to meet
their transaction needs. Its processing services offer banks reach throughout
the Single Euro Payments Area (SEPA) and beyond; and are complemented by
value-added services that leverage industry expertise and technical
capabilities.
Please visit www.vocalink.com for more information.
Further information: Scott McLean, Hotwire, +44(0)20-7608-2500 or vocalinkuk at hotwirepr.com; Deborah Souter, VocaLink Limited, +44(0)870-920-8651 or deborah.souter at VocaLink.com
Tags: London, United Kingdom, VocaLink