Through this partnership, GoCardless’ Direct Debit system and Instant Bank Pay (IBP), an Open Banking feature for one-time payments, will be embedded into Financial Cloud’s software. This integration is designed to allow businesses to handle payments and customer data within a single interface, offering insights into payment trends and customer behaviour.
Additionally, the system aims to streamline payment collection and reconciliation, making it more manageable as transaction volumes increase.
Customers will be able to use IBP to complete secure bank payments within seconds through a payment link, which could facilitate faster processing of transactions such as early loan repayments.
In the company press release, officials from GoCardless, emphasised the increasing demand for streamlined and secure payment solutions in the financial services sector. They explained that working with Financial Cloud would provide businesses access to advanced technology within a familiar platform.
In turn, representatives from Financial Cloud, stated that the partnership with GoCardless aligns with the company’s goal of simplifying payment operations for businesses. They noted that integrating GoCardless’ bank payment solutions would help improve efficiency and support customer needs.
These developments follow GoCardless’ partnership with Endava, a provider of technology services, aimed at helping enterprise merchants adopt bank payment systems more efficiently.
As part of the collaboration, Endava integrated and managed GoCardless payment solutions for enterprise clients undergoing large-scale digital transformation projects. This partnership was expected to expedite the implementation of bank payment systems, enabling organisations to benefit from the features of these solutions more quickly.
For more information about GoCardless, please check out their detailed profile in our dedicated, industry-specific Company Database.
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