Michael Chambers

Managing Director of Bacs

Michael Chambers is an authority on automated payments and the banking industry.  As Managing Director of Bacs he has led unparalleled developments in enhancing the brand’s reputation, and increasing volume figures for both the Direct Debit and Direct Credit payment schemes.  Since his appointment in 2003, Michael had driven growth to achieve in 2011 almost 5.7 billion UK payments being made through the Bacs’ systems, equating to approximately £4.3 trillion.

Under Michael’s leadership Bacs has witnessed a number of successful operational changes including, in 2003: the separation of the business into two completely separate entities, Voca (now VocaLink) and Bacs Payment Schemes Limited (BACS), as well as the introduction of Bacstel-IP, an innovative payment infrastructure giving UK corporates secure online access to Bacs payment services.

Previously, Michael held a number of strategic positions at Barclays Bank, including head of electronic solutions delivery, senior solutions delivery manager and head of funds control.  He then spent three decades in the bank’s money transfer unit to become the group’s payment products unit in 2002 with responsibility for a portfolio income in excess of £200 million.

As part of this role he delivered significant changes to processes and product propositions, led key strategic committees and steering groups for payments infrastructures and formulated the bank’s strategy on new payment mechanisms.

Michael has also held key roles at leading industry bodies including: Chairman of Bacs’ Scheme Management Committee; Director of CHAPS Clearing Company; Shareholder Representative of the European Banking Association and a Member of the European Payments Councils’ Business Requirements Working Group. 

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