First Capital Cashflow is one of the first Bacs approved payment bureau’s to achieve FCA accreditation
First Capital Cashflow has achieved Financial Conduct Authority accreditation, and the company hopes this important milestone will encourage more businesses to allow third party specialists to handle their direct debit and credit solutions.
The firm is one of the first Bacs approved organisations to be officially regulated and authorised by the FCA.
Achieving FCA approval validates the quality and security of our services, and we see this as a game-changing moment in our industry.
First Capital Cashflow urges UK organisations to use the security of an outsourced managed Direct Debit bureau after the company announced it was now officially authorised and regulated by the Financial Conduct Authority (FCA).
The FCA has members from some of the largest businesses in Britain, as well as numerous high-profile banks, building societies, financial institutions and government bodies.
First Capital Cashflow is one of the first Bacs approved organisations to be governed under the Payment Services Regulations 2009, and it hopes this milestone will encourage more organisations to use third-party sources to handle their direct debit and credit solutions in a very secure and robust platform.
First Capital Cashflow spokeswoman Louisa Buckingham said: “It’s vital that organisations adapt to changing consumer behaviour as soon as possible. Many organisations don’t have the in-house resources to implement secure direct debit solutions, which is why companies should make use of the services offered by First Capital Cashflow.
“A lot of organisations have been reluctant to trust third party service providers in the past, but the fact we are now regulated by the FCA will put their minds at ease. The FCA will add an extra layer of protection for customers, giving them more confidence to capitalise on the growing demand for direct debit transactions.”
Ms Buckingham added that First Capital Cashflow has followed safeguarding requirements to ensure client funds remain safe and specific measures have been taken to make sure the company received FCA accreditation, which include:
• Governance arrangements;
• Internal control mechanisms;
• Advanced risk management procedures; and
• Sanctioning controls against money laundering and other financial crimes.
“Hopefully, businesses will now recognise that they are in safe hands,” she continued.
“Achieving FCA approval validates the quality and security of our services, and we see this as a game-changing moment in our industry.
“So why risk your funds with another organisation that is not accredited?”
About First Capital Cashflow
The company started trading in 2001, providing bespoke Direct Debits and credits payment solutions. First Capital Cashflow is a leading Bacs-approved bureau and is renowned for creating pioneering payment solutions to satisfy the needs of its clients.
If you would like to find out more please contact First Capital Cashflow by telephone on 08448266700 or go to the FCC website at www.firstcapitalcashflow.com
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