Numeral launches in the UK

Monday 13 March 2023 11:46 CET | News

Banking aggregation and payment automation platform Numeral has announced its launch in the UK, with the support of SEPA, Bacs, and FSP payments.

Following this expansion, the company aims to strengthen its presence in the UK and allow pan-European banking aggregation in order to improve the development process of local businesses and organisations throughout the market. 

Numeral’s payments automation and banking aggregation platform offers companies fast and secure access to SEPA, as well as FPS through their banking partners. It prioritises the optimisation of payment operations by automating bank payment processing through a single API and a central dashboard. 

Due to the renewed cases of IBAN discrimination faced by fintech companies in the UK recently, when the organisations or their employees refused to accept an IPAB for payment in euros because of its country code, many customers were not able to access certain needed services and tools. 

Thus, focusing on the demands and preferences of the local client base, Numeral aims to allow clients to connect to, send, and receive SEPA payments with the EU banks of their choice, while benefiting from EU IBANs as well, in a more secure and effective way. Furthermore, organisations that seek to obtain EU payment institutions or electronic money institution licence also have the possibility to become SEPA participants. This will enable them to issue their own EU IBANs, while connecting to their SEPA sponsor bank and processing their SEPA payments. 

Banking aggregation and payment automation platform Numeral has announced its launch in the UK, with the support of SEPA, Bacs, and FSP payments.

Numeral’s solutions and products

The platform provides industries with multiple solutions that were designed to offer their clients an efficient suite of products focused on the security and privacy of their data and information. 

The payment tools aim to improve the customer experience for companies while streamlining payment operations and strengthening their process of development. Users can benefit from multiple solutions, such as automatic top-ups (which allows them to configure automatic top-ups that are debited directly from their bank accounts and leveraging ledgers as well as direct debits), external credit transfers (which gives them the possibility to initiate SEPA credit transfers to any counterparty from the application with the funds from their wallets), programmatic treasury management (a tool that allows users to move their funds across their settlement and safeguarded accounts in order to optimise liquidity and comply with the needed regulations), digital wallet management (which uses ledgers and virtual IBANs to track and maintain the balance of customers), direct connectivity to any partner bank (customers can use this service to connect to any bank while using a single API and launch in new countries quickly), and many more. 

Furthermore, Numeral also provides users with solutions that focus on the SEPA indirect participants, insurance, payroll, marketplaces, lending, travel and transportation, as well as real estate services.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: expansion, online banking, digital banking, SEPA, financial services, financial institutions
Categories: Banking & Fintech
Companies: Numeral
Countries: United Kingdom
This article is part of category

Banking & Fintech


Discover all the Company news on Numeral and other articles related to Numeral in The Paypers News, Reports, and insights on the payments and fintech industry: