Israeli Team Seeks Account Switching Insight from Bacs

Israeli Team Seeks Account Switching Insight from Bacs
01.05.2017 07:00 am

Israeli Team Seeks Account Switching Insight from Bacs


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.”

Related News

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

South Africa’s Mama Money Expands Global Reach with Western Union

Western Union, a leader in cross-border, cross-currency money movement... Read more »

SatoshiPay Secures $550,000 investment from Stellar Development Foundation

The Stellar Development Foundation ("SDF") has made a strategic investment of $550,000 by way of convertible loan notes. This investment marks the third investment made by SDF... Read more »

Enfuce powers payments in MaaS Global’s revolutionary mobility app

Maas Global, the leading Mobility as a Service provider, has partnered with Enfuce – Finland’s largest fintech startup – to launch a card payment offering in Whim, MaaS Global’... Read more »

Modern Card Issuing Leader Marqeta Valued at $4.3B in Latest Round

Marqeta, the global modern card issuing platform, announced today that it has raised an additional $150 million in new... Read more »

Paysend calls for accelerated post-crisis FinTech innovation

UK-based FinTech firm Paysend has called for an industry-wide acceleration of innovation across FinTech and payments in response to the global coronavirus situation. Sweeping... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel