AccessPay teams up with Yapily to launch open banking product

North West fintech scale-up AccessPay has launched a new finance solution for corporates, using open banking.

Enabled by Yapily, a leading open banking infrastructure provider, it will provide thousands of UK businesses real-time visibility into their cash position and transaction flows.

The integration enables AccessPay users to connect and aggregate their entire corporate banking estate at the click of a button reducing the friction of using multiple systems.

Until now, some corporates relied on outdated and manual processes to reconcile payments and manage cash across several company accounts.

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 open banking infrastructure, Manchester-headquartered AccessPay has expanded its cash management product to thousands of mid-market and enterprise businesses.

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 added: “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.”

Click here to sign up to receive our new South West business news...