Interview with CEO

Interview with our CEO, Royston Hoggarth

Tell us a bit about yourself. 

I spent the last 20 years working in a variety of roles in the IT, Utilities, Telecoms and BPO Sectors.  I have enjoyed senior roles in several major public and private companies.  My main interests are where companies are going through significant changes or looking to build new capabilities and services.  The next few years will be a fascinating time for the evolution of cheques in the UK and I am confident that we will continue to play a key role in UK banking.

Why is iPSL a great place to work?

I am a firm believer that an organisation is only ever as good as its people.  Here at iPSL, we go to great efforts to ensure we engage and invest in our people at every opportunity.  We support them in every which way, from the day they join until the day they leave.  We have not only built up a first class business, we have created a strong business community where we work to support each other as a team to deliver and exceed the expectations of our customers.  In our last Employee Survey, 93% of  employees were either satisfied or very satisfied with working here, which shows we must be doing something right.

What is happening with the decline of the cheque?

Everyone has tried to do away with the cheque.  The UK Payments Council previously announced cheques would be phased out by 2018. Many shops won’t accept them any longer and banks have withdrawn the Cheque Guarantee Card Scheme.  However despite this, the volumes are still only down by 10% year on year and this will continue until it eventually hits a plateau or levels out.

It is very evident that a vast majority of people still write cheques, as we are still clearing over 500 million cheques each year.  They are as much legal tender as the coin or note in your pocket and can only be done away with by an Act of Parliament.

Until an acceptable alternative is found, we expect cheques to be here for the foreseeable future.

What do you see happening at iPSL over the next few years?

For some years now, iPSL has been developing proposals to transition to a fully automated image-based paperless system in the UK.  iPSL will continue to be at the forefront of technological developments, and supporting our clients, as we move to the image-based exchange of cheques.

We are one of the best cheque clearing businesses in Europe delivering an excellent service to all our clients.  We have a huge number of experienced banking professionals with a vast amount of expertise.