Industry-leading Bacs provider Interbacs celebrates 20 years in business

Interbacs celebrates 20 years of delivering innovative payment services and expands offerings with new services.

Founded by Edward Taylor in 2003, Interbacs has served in the Bacs industry for 20 years, consistently delivering innovative and reliable payment services to its customers and solidifying its position as a trusted partner in the financial technology sector.

Interbacs' services have evolved in many ways, always with the customer in mind.

When Interbacs launched, it had a simple mission: to provide a complete Direct Debit platform that allows companies to control their payment processes fully.

Interbacs has always aimed to give clients:

• Full transparency of payment history and the ability to forecast projected income successfully
• Control over every aspect of the Direct Debit service
• Clear and transparent communication
• The ability to send bespoke and personalised letters and emails that can also work for mass communications
• Advanced automation capabilities, such as tracking failed payments and bank account changes

Over the past 20 years, Interbacs has worked to make its flagship DDMS product do this and more. Interbacs has also obtained its Bureau accreditation, a demanding process requiring an organisation to show resilience and demonstrate how well it’s run.

The most significant change to the platform is how it evolved from an installed product to a fully realised SAAS platform; gone are the days of costly servers and worrying about disaster recovery. Set up has become much simpler with a developed complex rest API to allow Interbacs' software to integrate with any system.

Interbacs also developed its Facilities Management service, which allows Direct Debit facilities to companies that can’t get the service from their bank. By doing so, Interbacs became the very first Bacs-approved Facilities Management provider.

During the pandemic, Interbacs' services became increasingly necessary as businesses looked to ensure their incoming payments were reliable. With Interbacs' software solutions, a single individual can maintain control of their cash flow rather than depending on a hired team. 

Interbacs has also expanded its focus on credit payments, providing more visibility on clients' payroll/expense needs.

Interbacs is one of the most complete holistic payment providers, providing one of the widest ranges of solutions available.

Interbacs is now working on launching Interpass, a full suite of security checks that allows users to authenticate payers and confirm their bank details. In the current world, these checks are an essential step in fraud prevention. It’s an important service for all Direct Debit providers that not all providers offer.

With Interbacs, clients can save their businesses a great deal of time and money by ensuring payment processes are automated. Interbacs also offers a bespoke solution that can allow clients to start focusing elsewhere on their business.

Edward Taylor, CEO of Interbacs, said: "I started Interbacs with the goal of fostering a positive work environment where people had an opportunity to grow and learn. I like to encourage and motivate people. My favourite thing about this journey is the people I've met, the careers I've watched and helped to develop and the people I've seen blossom in front of my eyes and shine like stars. 

"One of the first things I learned from my first CEO was after a mistake I made. He told me that the only people who never make any mistakes are the people that don't do any work. That inspired me to be brave but also not to hide when things go wrong. Make that leap, and if it goes wrong, learn from what went wrong and fix it next time.

"Celebrate your successes and celebrate and look after your people. The rest will take care of itself because your people will take care of it."

Find out more information at: https://interbacs.com