Cumberland Building Society taps NCR Paym mobile payment service

UK-based Cumberland Building Society has implemented NCR's Paym mobile payment service using Authentic and Fractals software from Alaric to improve customer service across multiple payment channels.

UK-based Cumberland Building Society has implemented NCR’s Paym mobile payment service using Authentic and Fractals software from Alaric to improve customer service across multiple payment channels.

Alaric operates as an NCR company. NCR said that the decision to invest in Alaric software will enable the building society to improve service and make every day easier for its customers.

The Paym service enables users to make secure, convenient payments to account holders of other participating banks or building societies using only the recipient’s mobile phone number, thereby eliminating need of sort codes or account numbers.

The deployment is an extension to the existing relationship between NCR and Cumberland Building Society whereby the building society has already been using Alaric’s products including ATMs and internet banking.

Cumberland Building Society IT general manager Gary Richardson said, "Improving our customer experience by adding value when they bank with us is at the heart of Cumberland Building Society’s strategy."

"One of the ways we achieve this is by responding to the way our customers want to bank by applying the latest technology. Smartphones are omni-present, so it was an easy decision to adopt the Paym service," Richardson added.

An Open Development payment platform, Authentic handles any type of transaction and is most often used for payments applications, such as consumer payment services hubs, payment gateways and conventional card-related switching, authorization, and device-driving applications.

Leveraging a mixture of self learning models and user defined rules, the Fractals intelligent fraud detection and prevention technology offers value to all players in the transaction chain, including issuers, acquirers, processors, networks, PSPs, ISOs and merchants, for all product types, including credit, debit, prepaid or gift cards.