Free Up Time and Unlock Visibility with Automation and Cash Management

Industry Insight: Financial Services


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Companies that fall under the financial services umbrella – including fintechs, challenger banks, and FX businesses – hold a unique position in the business landscape. You’re well aware of the importance of financial modernisation, and you may even help other businesses on their journey to achieving it.

However, firms belonging to this sector usually encounter a number of obstacles that stop them from reaching their own lofty ambitions. Typically, it’s about trimming the fat from your payment and banking processes: lowering costs, removing financial risk, increasing speeds, and capitalising on your all-important value proposition.

Here at AccessPay, we admire that ambition and genuine desire to make a difference. In fact, we’re committed to helping you achieve it. But we also recognise that if you’re to partner with someone, they need to be a good fit. Fellow tech lovers who understand your pains, challenges, and goals.

Complete with our cloud-based payment platform and Cash Management solution – which are compatible with any global bank, any payment rail (BACS, SWIFT, CHAPS, Faster Payments), and any financial application – we’d like to think we fit the bill. In our partnerships across fintech, challenger bank, and FX businesses, these are some of the most common goals that we’ve identified…

Improving Speed and Efficiency

Time is the main burden of any financial services business. Often, it can feel as if there simply aren’t enough hours in the day. This can be especially true for startup fintechs and challenger banks that are either yet to establish streamlined workflows or lack the person-power to get everything done. When it comes to automated offerings such as AccessPay’s, then, it’s not just about freeing up your finance and operations teams.

Of course, it is about that too – introducing new payment rails such as Faster Payments can reduce payment times from days to as little as two hours, and no productive work has ever been done when your mind is occupied by thoughts of spreadsheets, banking portals, and card readers.

However, when it comes to financial services, it’s about more than that. Key decision-makers, as well as secondary teams such as IT and Product, are bound to benefit from automation. In-house development when connecting to new banks might take as long as 12 months, whereas we could cut the faff and do it for you in a matter of weeks. This allows you to connect quickly to banking partners in new markets.

For the thought leaders, your business’s bonus time can be spent strategising, forecasting, and working towards achieving your value proposition.

Maximising Your Value Proposition

Many businesses in the financial services industry have a unique value proposition, making it their mission to help others as niche micro-sectors, such as insurtech, paytech and wealthtech, continue to emerge.

AccessPay exist at the core of your payment architecture, creating a customer-centric experience that you fully control.

Sometimes it isn’t just time you lack in reaching those targets, though – it’s simply that you lack the capacity. And that’s no fault of your own. Businesses in this sector typically thrive when working with smaller teams full of like-minded individuals. But there are parts of being a business that can easily fall by the wayside, such as audits and accreditation, improving security, and minimising risk.

Our solution can help with your FCA, PRA, and EBA compliance – as well as removing human error and risk from your operations – helping on the journey to maximising your value proposition.

Achieving Greater Cash Visibility

Greater insight over your cash isn’t just a nice-to-have, but the difference between stagnation and growth. Complacency and ambition. Shortfall and profit. With visibility over your firm’s current cash position – as well as expected payables and receivables – your business  can continue to broaden its reach thanks to added data and insights.

Many under the financial services umbrella, especially startups, run on understandably thin margins, so being able to realise and reconcile transactions quickly and with full transparency is a must. This applies to challenger banks, too, who are typically heavily regulated and in control of client money.

In this situation, being able to confirm that your cash is ringfenced and belongs exactly where it should be is crucial – it’s your reputation on the line, after all.

Achieving Operational Resilience

With the FCA and Bank of England now asking firms to review their processes to mitigate risk and strengthen their operational resilience; having the right infrastructure in place to manage your business critical processes has never been more important.

By improving operational resilience, your firm is less likely to face disruption and is better prepared for crises out of your control. This will result in streamlined processes, shorter response times and a more scalable business model.

AccessPay’s Corporate-to-Bank integration technology automates PRA reports, controls and scales your finance function – allowing you to be compliant and SYSC and FCA audit ready. Our platform also eliminates people risk such as banking portal downtime, security breaches and more.

More on Operational Resilience

Case Study


Launched in 1997 Sainsbury’s Bank is the oldest supermarket bank in the UK, and provides multiple products to its 2.1 million customers; including loans, currency exchange, insurance and savings.

Central to the bank’s success is the Treasury team, who oversee and control the group’s cash via their Treasury Management System (TMS), monitoring transactions and making payments as and when they are needed.

The team make high value cross-border treasury payments every day via SWIFT, but without a direct connection to SWIFT through their TMS, the process proved time-consuming when done manually.

“Formatting and uploading the payment data to process these payments manually, then checking it for accuracy, can take hours. This is time our team members could be spending doing other tasks crucial to our bank’s success.” – Warren Hyde, Treasury Operations Manager

Read More

Chat to Our Financial Service Expert Fionn Wilde

Fionn has an understanding of SaaS solutions and the financial landscape that few can match.

Whether you’re a fintech, challenger bank, or FX business, Fionn is well-equipped to help modernise your banking operations.

Why AccessPay?

Your business is fast-moving and well on the way to continuous growth. Because of this, there’s never been a more vital time to automate your payment and cash management operations. The team at AccessPay are here to help.

We bring order to your financial operations, acting as the glue between your banks and back-office platforms. With a fully-automated, cloud-based solution, you can focus on what really matters, waving goodbye to those pesky spreadsheets and tiresome manual processes for good.

Our cloud solution can be as invisible as you need, and will easily scale with your growth either in numbers or across borders. We can offer full integration behind the scenes, or, if you’re in need of a more consultative approach, our team of in-house experts are always on board to find a tailored solution that best fits your needs.

Already know that you’re after API functionality and simplifying your Direct Debits or connecting to the SWIFT network? No problem. Unsure of whether a direct host-to-host connection with your bank is right for you, or why Faster Payments will save you time? We’ll find the best approach together.

Not only this, but our Cash Management solution provides total transparency of your business’s funds, allowing you to more easily reach your business’s wider goals. With AccessPay, you can see your global cash position, regain control of your banking operations through risk mitigation, and optimise your spending with the availability of richer data.

Complete with the latest API (Application Programming Interface) and cloud technology, AccessPay’s functionality will automate and improve payments, increase security, and alert you to suspicious transactions – reducing the risk of fraud.

You can even use our mobile application to remove the need for card readers to authorise your payments on the go.

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