Bacs
Bacs is the UK payment system behind Direct Debit and Bacs Direct Credit. It processes payments on a three-day cycle and is the long-standing mechanism for collecting regular loan repayments and paying out funds in bulk.
Bacs is reliable and familiar but slower and less real-time than Faster Payments or Open Banking rails.
Credit Canary builds bacs into one platform for UK lenders, with the data and decisioning behind it.
Payment ManagementExplore more from Credit Canary
See where your credit union stands, benchmarked, in two minutes.
Affordability, cost of credit and Consumer Duty calculators.
Risk appetite, affordability, Consumer Duty and more.
How Credit Canary compares with other providers.
Original research on UK lending and digital performance.
See bacs in a working platform
Credit Canary unifies credit risk, affordability and payments for UK lenders. Book a short walkthrough.
Book a demo