Financial Services

For over 40 years Parseq has been providing complex and comprehensive services to a range of Financial Services clients both in the UK and across Europe.

Our clients range from Global Tier 1 Banking organisations to local in-country finance houses with an average client retention rate of over 12 years. Our deep domain knowledge and expertise, combined with our compliance and governance infrastructure has enabled us to build close, integrated relationships with our clients that continue to grow and develop.

Our financial services clients trust us to provide services directly to their customers, usually on a ‘White Label’ basis, with many requiring a same day processing service for the payments we process. We are also engaged as part of our clients’ Business Continuity Planning processes such that in the event of an internal failure the banks can move additional volumes for processing in order to continue the service to their clients. The services we provide are delivered to over 75,000 end customers across the UK and Europe, with Parseq processing over £2 billion worth of payments every month on behalf of our Financial Services customers.

Our Financial Services offerings fall into three areas:-

Payment and Direct Debit processing

On behalf of all of the major high street banks, Parseq provides a payment processing service that is delivered to over 75,000 Small and Medium Enterprise (SME) customers. This service has traditionally been a service offered by phone, fax and email; however with one high street bank we have now developed an online payment portal service. In essence this service allows the bank’s SME client base to have a simple mechanism for making payments to employees and suppliers, with clearly enforced security and payment limit rigour.
[click here to read more]

Cheque processing

For a range of organisations, we provide a cheque processing service where Parseq manages the scanning, validation and processing of cheque payments with remittances. For our Financial Services clients we provide UK and International ‘Lockbox’ services where we will establish a specific Lockbox service for the bank’s corporate customer, allowing them to accept cheque payments from their corporate client that is processed in our shared service centre. On this basis all cheques received by the bank’s customer are sent to us for scanning, processing and encoding with every cheque being processed same day.
[click here to read more]

Financial Documentation management

For many years Parseq has processed a range of generic documentation on behalf of several of our Financial Services clients. This includes everything from Application Forms and Direct Debit Mandates through to white mail processing. We have extended this service line to offer centralised mailroom processing, with forms scanning, digitising and data extraction capabilities that enable us to help our Financial Services clients manage the significant volumes of paper that affect the business on a daily basis.
[click here to read more]

Financial Services News and Articles

You can view all of our news and articles regarding the Financial Services sector by clicking here.

Talk to us. Come and visit us, tour our operations and hear what our clients have to say.