Member Article

Behind the business: Runcorn-based First Capital Cashflow

Runcorn-based First Capital Cashflow Ltd began trading in 2001.

The company was initially formed by several banking individuals as an outsourced credit collection service, however a year or so after the company was formed the shareholders saw a gap in the UK market for outsourced direct debit management for businesses.

Currently, the FCC executive team pools together over 70 years of experience in the technology and banking space.

FCC now employs 18 people and they spoke to Bdaily about what they do differently, the challenges they face and its plans to expand.

Marketing executive, Louisa Buckingham, answered Bdaily’s questions, she said: “We pride ourselves on being one of the few UK Payment Bureaus which are 100% cloud based.

“All our platform and solutions, developed in-house, are supported by an experienced, UK-based, client services team.

“There are no answer phones, no “email-only” enquiries and no hassle.

“Just honest and reliable client service.

What is the biggest challenge you face?

“A new competitor has come into the market in the last couple of years, they are positioned as a simple, low cost web based offering.

“They have a strong presence on various social media platforms and clearly invest in online PR and regularly feature in technology and financial online media.

“Although we are not the cheapest option on the market, we work to any clients’ requirements.

“The flexibility of our robust IT infrastructure and the experience of our team allow us to deliver quality solutions.

“Conversations, whether on the phone or face to face, enable us to demonstrate to prospects that we have developed proven solutions that have been refined and tailored to meet the challenges our clients face in the fast-moving payments landscape.”

Do you have any plans to expand in the near future?

“We would like to double in size in the next 5 years, our business has rapidly grown in the last several years and we aim for this to continue.

“Brand awareness, networking and strategic alliances have enabled us to move away from more traditional methods of selling and marketing; in coming years we hope to rely upon our global and strategic alliances to enter new markets and reach new customers.

How has your industry changed since you first set up the business?

“Direct debit is now one of the most trusted and popular methods of payment in the UK. In 2015, eight out of 10 British adults have at least one Direct Debit commitment, with 71 per cent of household bills paid this way.

“As a result of this many businesses are both processing direct debits and looking to outsource the management of it, or are looking to offer direct debit as payment option to their customers.

“This means that our potential market is huge – our customer base now ranges from SMEs, charities to FTSE 100 companies and financial institutions.”

This was posted in Bdaily's Members' News section by Sophia Taha .