ASL is a provider of specialised wholesale payments services
ASL was formed in 1993 as a mutual organisation by our founding members to provide settlement services and allow them to participate in the various financial sector clearing streams. ASL today is still an organisation which, like many of its clients, is owned by its members and supplies services to those members. ASL’s members include major mutual financial institutions.
ASL provides high quality, value for money and efficient settlement and transaction processing services to our members. Through the aggregation of our members transactions we are able to significantly reduce transaction costs associated with settling cheque, direct entry, scheme card, BPAY and other financial transactions.
As an Authorised Deposit-taking Institution, ASL is under the supervision and regulation of the Australian Prudential Regulation Authority (APRA) and the Reserve Bank.
ASL was the first non-bank to have an Exchange Settlement Account at the Reserve Bank.
Since inception, ASL has progressively grown our various products and services so as to continue to meet the evolving needs of our members and industry. This expansion has occurred without ever one settlement problem. While starting from a simple settlement service organisation, ASL can now provide our members access to a complete set of payment related services and participation in all the payment clearing streams within the Australian market.
Our vision is:
- To be a leading provider of payment services
- To be a strong voice in the payments arena
- To be an innovative and growing organisation
- To provide attractive products, superior service and exceptional value.
ASL is a strong and independent company committed to continuing its long history of providing to share-holders and clients the benefits of acting together to obtain scale and market presence and hence to achieve better outcomes than would be available to any one client acting alone.
ASL has a strong business model focused on working collaboratively with our members to provide scale advantages in their business operations. The strength of the relationship between the member base and ASL’s management team is an ongoing strength and key strategic advantage of the business. Collaboration remains a hallmark of ASL!