UK fintech AccessPay has partnered with Open Banking infrastructure provider Yapily to launch a cash management solution for corporates.
The new Treasury solution, enabled by Yapily, will allow UK businesses to have real-time visibility of their cash position and transaction flows.
By using Yapily’s infrastructure, AccessPay will be able to provide its customers, which include ITV, NGS and Imperial College London, with access to real-time banking data, removing the need to manually download data using spreadsheets.
AccessPay, which specialises in automating corporate banking operations, said it is the first corporate cash management use case of Open Banking to be brought to market.
Winston Pearson, senior product manager at AccessPay said: “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.”
AccessPay’s cash management service, enhanced by Open Banking, has been launched to the mid-market in the UK, with a European roll-out planned for later this year.
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.”