Hargreaves Lansdown taps Bottomline for augmented payments

Hargreaves officials said that as a UK-based investment platform for private investors, Bottomline’s payment system is an important part of their push into the digital backbone, which gives it access to scale with the support of cloud services.

Its selection of the Bottomline PTX solution reflects the partner's ability to provide an integrated, regulation-compliant platform complete with functionalities around new payments initiatives, such as Open Banking. The investment platform will use PTX to receive funds from its clients and distribute funds to them.

Bottomline stated that it facilitates the flow of money through functionalities such as Open Banking, Confirmation-of-Payee (CoP) fraud prevention measures, Request to Pay, and enhanced data, making the exchange of money more accessible. Corporations and banks rely on Bottomline for domestic and international payments, cash management, automated workflows for payment processing and bill review, fraud detection, behavioural analytics, and regulatory compliance solutions.