AccessPay and Yapily partner for corporate cash management
The rise of open banking in Europe has nurtured an ecosystem of non-bank fintechs providing API-based payments solutions for corporates.
This week, London-based open banking technology provider Yapily has partnered with AccessPay under which both would work on providing treasury solutions for corporates enabled by Yapily which would provide ‘thousands of UK businesses real-time visibility into their cash position and transaction flows’.
In this, the integration would allow AccessPay users to connect and aggregate their corporate bank accounts and it would reduce the use of multiple systems but also significantly ‘decrease the time-to-value for corporates from months to minutes’.
Last year, Yapily had partnered with Ozone API to expand the reach of open banking while it also partnered with American Express for B2B payments in Europe.
The press note states that as the world economy recovers from the pandemic, treasury teams would need ‘one centralised place to access reliable, secure financial data to support their businesses’ which have traditionally relied upon outdated and manual processes to reconcile payments and manage cash across several company accounts.
“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,” said Winston Pearson, Senior Product Manager at AccessPay.