Welcome to edition 38 of ChequeMate, the publication designed to keep members of the Cheque Printer Accreditation Scheme updated on developments at the Cheque and Credit Clearing Company (C&CCC).

This issue includes articles on:• Progress on the new

Image Clearing System• C&CCC’s Annual Review• Areportonthefindings

of our annual market research

• Success of the website relaunch

• Monthly fault reporting

Work is continuing on changing the way cheques are cleared in the UK via the development of the new ‘Image Clearing System’ (ICS) – previously known as the ‘Future Clearing Model’. Customers will begin to hear more about the ICS as individual banks and building societies start to update their ‘terms and conditions’ ahead of the introduction of the new system. Once it is introduced, some banks and building societies may also start to use the initials ‘ICS’ on customers’ bank statements – indicating that their cheque has been cleared using the new image-based process.

The Image Clearing System will mean that cheques will be cleared using the image of

the cheque, rather than the current paper-based clearing system where the actual paper cheque is transported around the country to be cleared. Currently cheques take six weekdays to clear but, under the new ICS, cheques will be cleared by the next weekday or quicker – a huge improvement on the existing timescale.

The C&CCC is currently working with the industry regarding the changes to the infrastructure and technological capabilities that are required before the new system can be implemented. It is a complex programme and more details about the actual implementation date will be announced in due course.

C&CCC’s Annual Review 2015

Update on the Image Clearing System

Issue 38 |September 2016

The C&CCC’s Annual Review of 2015 was published in May, highlighting the organisation’s key events from last year. The publication shows that 2015 was a busy year for Cheque and Credit as we reached a number of milestones, not least our thirtieth anniversary in November. Other sections in the Annual Review include:• highlights from our annual

market research;• details of the Cheque User

Forums and workshops that we held;

• a look at our annual clearing statistics; and

• contributions from our Chair, CEO and one of our Independent Directors.

The Annual Review can be viewed on the C&CCC website.

Annual Review 2015

Website relaunch a big hit

At the end of May the C&CCC launched its new corporate website, having updated it with a fresh and contemporary look and easier navigation. It hasbeenpositionedfirmlyas‘the’ place to visit for anyone interested in the history and usage of cheques, as well as for those keen to know more about the proposed changes to the cheque clearing process.

The new website includes a dedicated section aimed purely at suppliers and vendors. It includes details of what the Cheque Printer Accreditation Scheme entails, lists of accredited printers, and information on how printers can

gain accreditation. The section also includes copies of previous newsletters as well as details of forthcoming events. Later this year we plan to develop this part of the website further, with details about the opportunities for vendors that will be afforded by the introduction of the Image Clearing System.

The newly-designed website is proving to be a big hit judging by the increase in people visitingit.Inthefirstthreemonths following launch over 45,000 people visited the site – an increase of over 20% on the

corresponding period last year. The most popular downloads were the ‘Cheque Image Explained’leafletandthenewlypublished Annual Review. We have also seen an increase in the number of people signing up for our regular newsletters. The theme and imagery of the new website is ‘connections’ – highlighting the invaluable role that cheques have in connecting people with one another.

All the most popular features of the old website have been retained, including the ‘cheque checker’ that lets people see how quickly their cheques will clear. Additionally, the new website serves as an information hub, collating a range of useful factsandfiguresincludingmarket information, frequently asked questions and the history of the cheque.

The new design and layout make it easier for our key audiences - including cheque printers - to navigate the websiteandfindalltheinformation they require. Research papers, consultation documents,financialreviews,newsletters and press releases are all posted online on a regular basis.

If you haven’t visited the site recently, click on www.chequeandcredit.co.uk.

There have been several instances recently where printers have not been notifying the C&CCC of changes within their organisation.

Any change in circumstance should be reported to the C&CCC as soon as possible and the appropriate documentation completed and sent to the CPAS helpdesk at cpashelpdesk@chequeandcredit.co.uk.

Remember the CPAS Rules and Operating Regulations

• The two most popular reasons for consumers to write cheques are ‘to pay a bill’ (23%) or ‘to pay a tradesman’ (22%).

• Older people are the most likely to write cheques with around 70% of those aged over 65 using this payment method.

• 91% of UK businesses and 81% of charities go to their local bank or building society to pay in cheques they receive.

• The three most popular reasons why charities write cheques are because ‘they have always used them’ (55%), ‘to maintain a clear paper audit trail’ (54%) and to‘managetheircashflow’(42%).

• 62% of UK businesses said that they had received payment by cheque in the past month.

Youcanfindmoreinformationaboutourongoingmarketresearchprogramme on our website.

Some interesting points from the market research show that:

July 1966 saw two very memorable events. While for some it marked the year that England won the World Cup, for lifelong Celtic fan Jim Seenan it was the date he started his career at the Bank of Scotland.

Now, after a 50-year career in banking - 12 of them here at Cheque and Credit - Jim has retired, not only to spend more time with his wife, Phyllis, and his three children and six grandchildren, but also to take the opportunity to learn how to play the ukulele!

During his 38-year career at the Bank of Scotland Jim held a numberofroles,themosthigh-profileonebeingwhenhewasin charge of the bank’s clearing system during the successful merger with the Halifax in 2001.

He left the bank in 2004 to join the Cheque and Credit Clearing Company, where he quickly became recognisable to many members, not only because of his vast industry experience, but also because of his dulcet Scottish tones and upbeat attitude.

Over 50 members of Cheque and Credit staff joined Jim in a farewell drink at the end of August. He was presented with some theatre vouchers as well as a scarf which was hand-knitted by his fellow work colleagues – very useful when watching Celtic on a cold winter’s day!

We wish him a very happy and healthy retirement.

Retirement of Jim Seenan

The C&CCC carries out market research on an annual basis to gauge both consumer and corporate sentiment towards the use of cheques, as well as assessing views about cheques as a payment method.

This year marked the tenth consecutive year of research with the public and the ninth amongbusinesses.It’sthefirstyear that charities have been included.

The new research drew some interesting conclusions, particularly with regard to charities’ use of cheques. Overall it can be seen that cheques are still a critical method of payment for many groups - especially charities and certain segments of the general public.

Market Research

We hope to arrange our regular Cheque Printers Forum next year as normal and, as an extra way of keeping our stakeholders updated on developments that might affect them, we are putting in place regular email bulletins for CPAS printers.

If you would like to be included in these bulletins or if you simply wanttoasktheC&CCCanyspecificquestions,contactusat:cpashelpdesk@chequeandcredit.co.uk.

Social MediaA high number of errors have been reported over the past few months that have had an impact not only on the overall industryfigures,butalsoontheindividual printer reports. It is extremely important that the quality of cheques produced is of the required standard to ensure poor quality printing is not causing any problems during the processing of items.

In order to try and reduce the number of faults, Cheque and Credit may send you an email requesting an explanation for the number of faults reported. If you receive such an email, please ensure you reply within seven working days.

You can contact the CPAS helpdesk at cpashelpdesk@ chequeandcredit.co.uk or on 020 3217 8508 with any queries or concerns that you may have regarding the monthly figuresthatwesendtoyou.Your ongoing assistance in this matter will help ensure that the quality of cheque printing is maintained.

Along with our exciting work to revolutionise how cheques are cleared, we have also been looking at ways we can continue to expand our presence in the digital sphere, givenoursignificantreachandinfluenceacrossanumberofstakeholder groups.

Social media is an essential component of any communications strategy. Both public and private sector organisations must keep on top of the fast-paced news agenda and also maintain a dialogue with their key stakeholders. Social media is one of the most efficient,immediateandcost-effective ways to achieve both of these aims.

We are now active on three different platforms – Twitter, LinkedIn and YouTube; details of how to follow our work on these sites are available at the end of this newsletter. The next phase of our use of social media will be when we introduce blogs to our communications output.

There are a number of ways you can keep up to date on the progress of the new cheque imaging system. ChequeMate is one way of catching up on the news but the C&CCC website is also a good source of information: (www.chequeandcredit.co.uk).

In addition you can keep up to date by following the C&CCC on the following social media platforms: