Israeli Team Seeks Account Switching Insight from Bacs

  • Payments
  • 01.05.2017 07:00 am

Key people behind a planned new Israeli bank account switching service turned to the experienced team behind the UK’s Current Account Switch Service (CASS) to tap into their knowledge and expertise.

Bacs Payment Schemes Limited (Bacs), the company which owns and manages CASS, hosted representatives from the Israeli Central Bank, the Ministry of Finance, and the Israel Anti-Trust Authorities, as they sought to learn more about the UK’s high profile switching service.

The two day visit gave the Israeli delegation an insight into how CASS was created and implemented, as well as the research that has informed latest developments, and the strategy for building on success moving forwards. Bacs also arranged for the visitors to meet with representatives from Her Majesty’s Treasury, the Payment Systems Regulator, the Financial Conduct Authority, and the Competition and Markets Authority, as well as people from the UK Open Banking team.

Anne Pieckielon, Bacs Director of Product and Strategy, leads on CASS for the UK. She said: “CASS is clearly recognised as a world leading switching service and we were delighted to share our knowledge and experience on how we have made the service such a success since launching almost four years ago.”

Kfir Battat, from Israel’s Ministry of Finance, said: “The visit to Bacs to talk about CASS exceeded all our expectations and we thank Anne and all her team for the opportunity to learn more about the UK banking market and in particular CASS. The UK clearly has an excellent switching service and we are very grateful for the two day visit.”

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