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

 

What are the benefits?

Improved reconciliation

Benefit from lower transaction costs with a flat fee per transaction​

Get paid faster and securely with no chargeback risk​

Increase collection conversion rates with a better payment experience for your customers

Real-time data visibility and accuracy​

Lower total cost of ownership (TCO)

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

 

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

Find out more

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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video time: 01:26 video title: PTX Pay Direct the new way for customers to pay

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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