- NPSO confirms the representation of its newly-created Participant Advisory Council
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17th July 2018
NPSO confirms the representation of its newly-created Participant Advisory Council
The New Payment System Operator(NPSO) has confirmed the representation of its newly-created Participant Advisory Council: Twelve experts and executives from across the payment services landscape have been appointed, to help ensure that views from the industry are heard and acted upon by the NPSO.
The Participant Advisory Council will operate as a non-executive advisory group for the NPSO Board, with each member operating collaboratively and having the same voice. In common with the main NPSO Board, each member has been appointed because of what they can personally contribute, rather than as a representative of their employing organisation.
The 12 members of the Participant Advisory Council will advise and make recommendations on issues of significance to participants in the payment systems (BACS, the Cheque and Credit Clearing Company and Faster Payments).
Jean-Yves Rotté-Geoffroy, NPSO Independent Non-Executive Director and Chair of the new Participant Advisory Council”, comments "The NPSO will help build the future of the UK’s payments infrastructure by developing trusted solutions that are also open and inclusive. Our Participant Advisory Council will help ensure that the NPSO Board understands the needs of the industry, listens to its challenges, identifies new opportunities and develops world-class payment systems.”
The Participant Advisory Council is one of two advisory councils with a formal role to advise and challenge the Board of the NPSO. The other–which the Participant Advisory Council will fully collaborate with in its work- s the End User Advisory Council, which will help to ensure that the needs of consumers, business users and the not-for-profit sector inform the strategy of the NPSO by giving an expert view on what end users need now and in the future, ensuring these needs are correctly understood and addressed by the NPSO.
In addition, the NPSO has completed its Board recruitment with the appointment of Tim Fitzpatrick as an Independent Non-Executive Director. HEjoins the NPSO from a senior advisory role at the Bank of England, having played a key role in its successful acquisition and integration of CHAPS Co in November 2017. He has extensive experience in payments, cash management, transaction banking and related systemic risk disciplines.
Melanie Johnson, Chair of the NPSO, comments “Tim’s expertise in payments makes him a fantastic addition to our Board, ensuring we have the mix of skills needed to make the NPSO the UK’s leading payments authority, enabling a vibrant UK economy.”
Tim Fitzpatrick added “The NPSO will play a leading role in shaping the future of payments in the UK. I look forward to the opportunity to contribute alongside other Board colleagues to ensure our systems are safe, open, innovative and resilient, and operate for the benefit of people everywhere.”
The NPSO exists to maintain and develop the payment systems and standards which are the lifeblood of the UK economy. Bacs Payment Schemes Limited(Bacs), Faster Payments Scheme Limited(FPSL), Cheque & Credit Clearing Company Limited(C&CCC) and UK Payments Administration are part of the NPSO.