LONDON, November 16 /PRNewswire/ -- 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 Bar 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.
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 http://www.vocalink.com for more information.
CONTACT: Further information: Scott McLean, Hotwire, +44(0)20-7608-2500 email@example.com; Deborah Souter, VocaLink Limited,+44(0)870-920-8651 or deborah.souter@VocaLink.com