The fintech also introduced embedded ACH, RTP, FedNow and Wire payments across 9,600+ banks for customers in the US. This enables businesses to securely send funds from their payment journal to vendors via their bank account, simplifying the process with better efficiency and security.
With the CFPB's finalisation of the Personal Financial Data Rights rule in October 2024, Open Banking gained traction in the US. The market is projected to reach USD 35.79 billion by 2031. Yavrio aims to leverage this momentum and help finance teams integrate all their bank accounts into a unified finance system, improving efficiency and financial visibility.
The introduction of embedded payments is a key function for businesses, allowing them to make cross-border and domestic transactions securely from their payment journal, ready for approvers to authorise as usual within their bank portal, optimising payment accuracy. The company is committed to offering simple banking connectivity, and connecting to five US banking institutions highlights Yavrio’s commitment to offering integrated banking solutions to businesses worldwide, no matter who they bank with, improving financial automation for firms globally.
Yavrio's integration with corporate banking systems connects businesses to the core of financial operations, offering real-time data, access to banking infrastructure, and multiple payment rails. Businesses can execute payments, access live financial insights and automatically reconcile transactions within their ERP system, improving control and productivity.
This integration follows Yavrio’s USD 2.4 million seed funding round led by Fuel Ventures. With a growing customer base, Yavrio operates for a range of organisations, including government bodies, elite sports teams, cultural institutions, charities, and commercial enterprises.
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