Qualco UK launches 2 Open Banking solutions

Monday 25 April 2022 11:02 CET | News

Qualco UK has gone live with two new solutions, featuring Open Banking technology delivered by several key partners. 

Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for new client, Simon Jersey. The new approach includes letters, emails and SMS being sent to customers, containing a unique QR code, which when scanned, opens up a simple and secure payment journey.

Customers with mobile banking apps or online banking can perform an Open Banking payment by selecting the bank account of their preference, use their normal login protocols and authorise payment, without the need to input card details or reference numbers. Options include the ability to pay the full balance immediately, or to make regular repayments, much like a traditional standing order.

The second feature makes use of Experian’s Affordability Passport, which uses Open Banking technology to understand the customer’s financial situation by intelligently analysing the activity of their chosen bank account(s). The Affordability Passport removes the need for manual financial assessments, subject to the customer providing consent.

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Keywords: Open Banking, partnership, account-to-account payment, mobile banking
Categories: Banking & Fintech
Companies: Qualco UK
Countries: United Kingdom
This article is part of category

Banking & Fintech

Qualco UK

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