3rd Nov 2023

AccessPay Voted Third in This Year’s FinTech 50

There are endless metrics that you can put in place internally that can give an indication of how well your company is doing. But few give the same feeling of kudos that an accolade voted for by the public and a respected panel of judges can provide.

We are delighted to announce we have been placed for the first time in the BusinessCloud FinTech 50, which celebrates businesses of all sizes creating original tech for payments and the financial industry. And what makes the news even sweeter is that we have been placed at number three with a bullet in the list of top 50 firms blazing a technology trail in finance.

The ranking was determined by 1,200 readers of the online publication, alongside an expert panel of independent judges, featuring leaders at Innovate Finance, techUK, 11:FS, FinTech North, KPMG, Tyto PR and BusinessCloud, who had a shortlist of 173 companies to choose from. The combination of reader votes and judge selections picked the UK’s 50 most innovative start-ups, scale-ups and established technology firms in the financial, insurance and compliance sectors.

Our ranking in the BusinessCloud Fintech 50 isn’t just a pat on the back for past achievements. It’s a beacon for the future and gives us further validation that we are on track for continued success with tech that hits a sweet spot in today’s market and a company ethos that is taking us from strength to strength.

Poised for continued success

For over 10 years, we have been ensuring payments operations excellence for thousands of organisations’ finance and treasury teams. Our cloud-based platform has seamlessly connected corporates to their banks and in turn, enabled them to modernise their banking operations processes, minimise the risk of fraud and error, enhance payments efficiency and optimise cash visibility.

Now, regulators are making enhanced payment controls and higher standards for fraud prevention a mandatory requirement with the introduction of UK SOx. The new reform, which will come into effect in late 2024 requires finance teams to leverage technology and automation to implement better payment controls and enhanced reporting to stay compliant and safeguard organisations’ finances.

Under this new approach, Finance and Audit Directors are legally required to vouch for the accuracy of financial statements and ensure thorough review of controls and processes. The Audit, Reporting and Governance Authority (ARGA), which is due to replace the FRC in 2024, will hold company directors personally responsible for the accuracy of financial statements. Now, the regulation affects Public Interest Entities (firms with entities with more than 750 employees and an annual turnover greater than £750m). But the direction of travel around the world is pointing increasingly towards modernisation, automation and accountability, which will only become more and more of a priority globally.

We are in prime position to help firms with these requirements with new innovations in our platform such as the introduction of our new Fraud & Error Prevention suite, a fact that was surely recognised by the Fintech 50 judging panel and public voters. But, no matter how good the tech is, without a solid team behind the scenes making it work, you get nowhere fast. Fortunately for us, we don’t have that problem.

Our people are the core of our success

Last year, our CEO Anish Kapoor was interviewed by TechBlast, BusinessCloud’s sister publication, where he explained his approach to people management: “My job is to empower people. That’s all I need to do as a leader.” This approach is clearly paying dividends.

Earlier this year we were also recognised in the 2023 UK’s Best Workplaces in Tech™ list by Great Place To Work® UK, created using the anonymous feedback collected from employees within the technology industry about their workplace experience.

Our employees anonymously reported that the welcoming, inclusive and supportive culture makes the company a great place to work and describe us as having “a family feel with endless opportunities to grow and develop their career from scratch” and is “inclusive of everyone while celebrating diversity”.

Looking towards future success

We believe these were also contributing factors to our high position in this year’s FinTech 50 and we are looking forward to building on this success in future rankings and accolades. For now, we are focussing on doing what we do best, simplifying corporate banking with smooth connectivity between back-office systems and banks, and replacing manual banking processes with automated workflows. But maybe we will have to make some time to clear space in our awards cabinet too!