Alastair Hanton
Alastair Hanton | |
|---|---|
| Born | 10 October 1926 North London, England |
| Died | 26 May 2021 (aged 94) |
| Occupation(s) | Civil servant, banker, social entrepreneur, transport advocate |
| Known for | Creator of the direct debit system |
Alastair Kydd Hanton (10 October 1926 – 26 May 2021) was a British civil servant, banker, social entrepreneur, and transport advocate who created the direct debit system in 1964.
Upon his retirement as deputy managing director of National Girobank, Hanton was honored with an OBE in the 1986 New Year Honours.
Early life
Hanton was born on 10 October 1926 in north London. His father, Peter Kydd Hanton, worked as an architect for the Ministry of Works, while his mother, Maud (née Evans), was employed as a secretary.
Education
He attended Mill Hill School and experienced evacuation to St Bees in Cumberland during World War II. Following this, Hanton pursued studies in mathematics and economics at Pembroke College, Cambridge.
Career
After completing his education, Hanton began working in 1948 with the newly established government overseas aid agency, the Colonial Development Corporation. He spent two years at its London headquarters before being assigned to Malawi to oversee public works planning.
In 1957, he joined the Industrial and Commercial Finance Corporation (ICFC, now known as 3i), which focused on financing small businesses. The following year, he moved to the Economics and Statistics Division at Unilever.
Hanton transitioned to Rio Tinto-Zinc Corporation in 1964, where he advanced the application of the discounted cash flow method and contributed to The Finance and Analysis of Capital Projects publication.
After four years at Rio Tinto, he became a founding member of the new National Giro in 1968 and remained with the institution until his retirement in 1987.
Direct debit
While at Unilever, Hanton developed the concept of direct debit to simplify payment processing for sellers of Wall's ice cream. Originally named automatic debit transfer, this paper-based system was introduced in 1964 and expanded for broader use by 1968.
National Giro
In 1982, Hanton was appointed as Deputy Managing Director of National Girobank. Three years later, he spearheaded the launch of the LINK ATM network, which allowed customers to access cash from ATMs across various banks without fees.
Charity and campaign work
Hanton played a key role in founding The Fairtrade Foundation and establishing the Environmental Transport Association. Additionally, he held positions such as vice-chairman of Christian Aid and chaired both Living Streets and the London Cycling Campaign.
Family
In 1956, Hanton married Margaret Lumsden, a Cambridge graduate and market researcher. The couple had two sons and one daughter.