FinTech scale-up AccessPay has partnered with Open Banking infrastructure provider Yapily to launch a new Treasury solution for corporates.
The integration enables AccessPay users to connect and aggregate their entire corporate banking estate at the click of a button. This decreases the time-to-value for corporates from months to minutes. The ability to join together data from multiple connectivity channels, means AccessPay can deliver a global solution, whilst enhancing the user experience within the EEA.
Until now, some corporates relied on outdated and manual processes to reconcile payments and manage cash across several company accounts. This presented costly challenges when monitoring financial performance and cash management.
As the world economy recovers from the impact of Covid-19, treasury teams need one centralised place to access reliable, secure financial data to support their businesses.
Harnessing Yapily’s Open Banking infrastructure, AccessPay has expanded its cash management product to thousands of mid-market and enterprise businesses. This is the first use-case of Open Banking in corporate cash management to be brought to market and demonstrates how tech innovation is creating better services for businesses.
The collaboration between these two UK-based FinTechs will enable thousands of treasury and finance teams to make more informed financial decisions, as well as establishing reliable, automated processes around reconciliation, payroll and forecasting of company cash.
Winston Pearson, Senior Product Manager at AccessPay said:
“We are delighted to be working with Yapily, another fast-growth FinTech, to drive digital transformation in the corporate space. Businesses and banks simply aren’t as connected as they should be in today’s global business landscape. Treasury and finance teams, the driving force of today’s corporate operations, need one central place to automate banking operations for complete visibility and control. With Yapily’s support and guidance, we’re able to expand our cash management solution to more of the market at this pace and scale. The integration has transformed a cumbersome process into a frictionless data flow for our customers. Thanks to Yapily’s industry-leading infrastructure and strong relationships with banks across Europe, we’ve been able to deliver a solution previously reserved for the few, to the masses.”
Stefano Vaccino, CEO of Yapily said:
“Leveraging our Open Banking infrastructure in this way has enabled AccessPay to move faster and disrupt the corporate business landscape. This is an exciting development for Open Banking and demonstrates the benefits the technology brings to the ecosystem. Through partnering with AccessPay, we’re continuing our mission to expand the reach of Open Banking to a wide range of businesses. We look forward to developing our partnership with AccessPay and helping them continue to scale to new heights.”
