This partnership aims to strengthen corporate relationships by enabling banks to offer direct payments’ connectivity to a broader range of corporate customers. Finance teams within corporates will have typically time-consuming and manual processes automated, as banks will now be able to offer simplified connectivity to their corporate customers through means of enterprise resource planning (ERP), payroll/human capital management (HCM) system, treasury management system (TMS) and other back-office systems.
The embedded business banking functionality is available via Finastra’s FusionFabric.cloud platform and the AccessPay app which, to enable quick deployment and ease of implementation, connects to Finastra’s Fusion Global PAYplus and Fusion Payments To Go payment solutions.
AccessPay officials have stated in the press release that as of now, only the largest corporate customers benefit from direct connections for payments with their banks, as the implementation is time-consuming and challenging. Furthermore, they also added that their company vision is to simplify the integration between corporate finance systems and the banks, removing the complexities associated with this process, the partnership marking a step forward in their vision of bringing simplified corporate-to-bank connectivity.
AccessPay is a corporate-to-bank integration fintech that is looking to remove the challenges that come with traditional corporate banking integration. The company automates the flow of payments and cash management data between corporates and banks, helping to empower banks’ connectivity with more corporates, and enabling corporate finance and treasury teams to become more efficient, save money, and reduce risk.
Finastra is a financial software applications and marketplaces provider that serves institutions of all sizes and provides solutions and services across lending, payments, treasury and capital markets and universal banking (digital, retail, and commercial banking), aiming to help banks support direct banking relationships and grow though channels such as embedded finance and Banking-as-a-Service.
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