Unity Trust Bank completes transition of clearing services to NatWestPress Releases Published: January 13, 2016 3:35 pm
Challenger bank Unity Trust Bank has completed the large-scale transfer of its clearing services to NatWest following a competitive tender process.
Formerly with The Co-operative Bank, which announced its exit from the agency banking market in January 2014, Unity sought a provider that could offer a like for like service that meant minimal disruption for its customers.
Payment services including online payments, direct debits, standing orders, cheques, counter services and bullion will be delivered by NatWest. The change affected over 20,000 customer accounts.
The successful migration of all services was led by Unity’s Head of Customer Operations Richard Rose. He said: “Our priority throughout the migration process was to ensure a smooth transition with minimal adverse consequences for our customers. We wanted to provide continuity of as many services as possible and NatWest has been really flexible in its approach with us. The move paves the way for a long term relationship with NatWest and will provide Unity and our customers with a wide range of additional services that may be of benefit in the future.”
The move to NatWest means Unity customers, which include organisations and businesses that are creating community, economic, social or environmental benefit, can take advantage of improved banking and payment services functionality as well as increased counter services across the branch-network of NatWest, and its sister banks Royal Bank of Scotland and Ulster Bank.
Duncan Todd, Director, Financial Institutions UK at NatWest, said: “I am absolutely delighted at the opportunity for NatWest to develop a long term relationship with Unity Trust Bank as their new banking partner. The project has been one of the largest and most complex Agency Bank implementations we have seen for many years at NatWest. It is a great credit to the numerous individuals from both sides that the project was delivered so efficiently and successfully. This new Agency Banking partnership affords an opportunity for Unity and NatWest to work together more closely in numerous ways, for the benefit of existing and future clients and we look forward to supporting Unity with its future strategy.”
While NatWest is running around 90% of Unity’s original services, the bank has also taken the opportunity to negotiate more suitable arrangements with other providers for a number of services. Its MasterCard branded Corporate MultiPay card is contracted to Lloyds and Santander is delivering its pay direct service through the Post Office.
Notes to editors
About Unity Trust Bank
Unity Trust Bank was founded in 1984. Unity is a bank for organisations and businesses that create social, economic, community or environmental benefits in a way that is financially sustainable. The Bank seeks to put social change at the heart of everything it does and provides tailored day-to-day banking and loan finance to socially motivated organisations including SMEs in the health, housing and educational sectors as well as a wide range of charities, social enterprises, co-operatives, CICs, voluntary and community organisations, trade unions, councils and more. Over 20,000 organisations bank with Unity and in 2015 its customers rated it 1st in 8 of 9 customer satisfaction categories in the Charity Finance Banking Survey. In 2014, the Bank made 57 loans totalling £29.9 million. The Bank’s lending helped to create and protect 3,423 jobs in the UK.
Unity Trust Bank is a Living Wage accredited employer. The first bank to be so, this illustrates Unity’s commitment to its employees. It also holds the Fair Tax Mark in recognition of its fair and transparent accounting approach.
For more information, visit: www.unity.co.uk
For further information, please contact Unity Trust Bank’s PR consultants:
Anna Hollis: email@example.com / 020 8533 8893 / 07779 603538
Rachel Pidgeon: firstname.lastname@example.org / 020 8533 8893
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