Pay.UK hosts industry event to help shape the future of the Current Account Switch Service

We recently held our annual Current Account Switch Service strategy event, garnering invaluable insight from industry delegates to shape the future direction of the service.

Following an introduction from the Chair of the Switching Services Customer Committee, Wanda Goldwag OBE, the event’s 50 attendees heard from members of our Product team who presented key statistics on the service’s performance over the past year. First highlighting the record-breaking 162,637 monthly switches volume last November, and the daily switching record of 24,129 in April of this year, the team further explored the exemplary service awareness and customer satisfaction performance.

Discussion progressed to explore the role and purpose of the service in the context of an evolving payments landscape, with the team further highlighting considerations of a future strategy, including approaches to marketing and key performance indicators.

To this end, attendees were then invited to engage in breakout sessions to discuss perceived barriers to switching, and how to overcome them, and ways to optimise marketing strategies for each of the service’s key sub-audiences. Suggestions included potential partnerships with external organisations, such as charities, to increase awareness of the service, and tailored messaging to subsegments of each audience.

Product Owner, John Dentry, said: “CASS strategic events with the wider stakeholder group have been incredibly useful in helping us shape the strategic direction of the service, with this year being no exception. We continue to focus on creating a strategy that includes a revised role and purpose that allows CASS to remain relevant in an ever-changing banking ecosystem."

We’d like to thank all delegates for their attendance and contribution. Having consolidated the findings and insight from the event, we now look forward to developing our future strategy to ensure CASS remains a relevant and effective service for end users and businesses in the UK.

Read the CASS monthly data reports here: Current Account Switch Service statistics - Pay.UK