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Bottomline Open Banking Solutions

It is vital for companies to be able to receive collections in real-time.

It is vital for companies to be able to receive collections in real-time - open banking makes this possible. Additionally, open banking supports pre-populated payment information, including the payers bank details if required, and therefore eliminates the risk of errors arising from customers manual inputting the details.

Who Should be Leveraging Open Banking?

Companies or Banks that want to help their corporate customer achieve the following objectives:

Quicker receipt of funds
Reduce interventions associated with customers manually entering the payment details
Reduce liabilities and fraud risk (indemnity and chargebacks)
Cost reduction in collecting payments from your customers
Simple and secure alternative payment methods for customers (account-to-account payments)
Real-time access to account information and statements
Validation of customer account information

Two key solutions that Bottomline offer to make payments easier include;

Account-to-account payments

Collect fast, error-free bank transfer payments from your customers for a flat fee, without chargeback risk. This solution is powered by Bottomline’s regulated open banking payment initiation service.

Account information services

View and reconcile your banking activity across all your bank accounts, worldwide, with one standardized and regulated service.

Why not book a 1:1 strategy meeting with one of our experts to discover how open banking can revolutionise your business

Connect, Comply, Compete

Universal Aggregator IQ

Securely communicate, reconcile, and manage the data in financial transactions within, and between banks and Non-Banking Financial Institutions, both locally and internationally.

Payments and Cash Aggregator

Part of a digital payments ecosystem that offers aggregated payment services for connectivity, processing, monitoring & screening, both in near and real time e.g. payments & cash Management solution for payment processing over multiple rails & hybrid integration models.

Data and Analytics

Track, manage and control transactions via ML and AI to build predictions, insights and analysis from real time data e.g. Operational efficiency and business insight

Fraud and Financial Crime Management

With our payment expertise and specialised technology, we can help you identify the hidden threat of payment fraud, from inside and out. Protecting your organisation before it's too late, while maintaining compliance.

Confirmation of Payee (CoP)

Confirmation of Payee (CoP) is an industry-wide response to combat APP fraud in the UK and reduces the ways that fraudsters can dupe anyone into sending authorised payments into criminal accounts. Our multi-award-winning CoP solution can help Financial Institutions:

Save time: Simple ‘switch on’ due to Open Banking credentials

Minimise hassle: Compatible with any payment scheme via our SaaS-based, API driven solution

Easy integration: Full on-boarding support with access to our sandbox

Future-proof: Multi-year roadmap to cover evolving phases and new functionality

Flexible and transparent: Pay-as-you-go model with no capex or compliance overhead

Book in a 1:1 strategy meeting with one of our experts to discover how open banking can revolutionise your Financial Institution and how you could be impacted by the latest Confirmation of Payee mandates

Why not book a 1:1 strategy meeting with one of our experts to discover how open banking can revolutionise your business

Bottomline currently offers two corporate solutions which utilise Open Banking:

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Pay Direct

Collect single payments simply and cost-effectively, powered by Open Banking. As an alternative to cards, cheques or manual bank transfers.

Payments received in up to 2 hours

Flat fee structure makes it a cheaper alternative to Card payments

No chargeback liability

Fully hosted solution so no lengthy implementations

How to win and keep customers with Pay Direct

In this guide learn how to deliver better payment experiences and improve how you receive funds in a fast-changing environment.

How to win and keep customers with Pay Direct

Read Guide

Confirmation of Payee (CoP) for Business

An ‘account name checking service’ for businesses to help avoid payments being accidentally misdirected. Benefits of our CoPservice include:

50% cost savings, on average, compared with the Credit Reference Agency.

92% coverage compared to ~70% via CRA service

Spans both business and personal accounts

Access via an API so can be easily integrated

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50% cost savings, on average, compared with the Credit Reference Agency..

Helping Utilities to collect failed Direct Debit using Open Banking

An interactive webinar giving you the opportunity to engage with our experts as they demonstrate new ways to collect failed Direct Debits using Open Banking.

On-demand webinar

Open Banking to Open Finance: Part 1

In the 1/3 episodes, Marcus Hughes, Head of Strategic Business Development at Bottomline, shares his insights on the current adoption the evolution of Open Banking to Open Finance and the process behind the information sharing and payment initiation services.

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