Connecting your back-office directly to your primary banks has never been easier, using a proprietary link for all available payment types and cash management messages.
A direct bank connection (host-to-host connection) helps keep your transaction costs low and enables straight through processing of financial messages between your banks and your finance applications.
Route domestic and cross-border payments directly through the bank to help keep transaction costs low and enable straight-through processing. Giving you greater efficiency and control over your payment processes.
Receive Payment Status Reports
AccessPay retrieves PSRs from the bank in a Pain.002 format and any other submission messages received for MT101, Bacs and Faster Payments.
Automate bank statement feeds
Support onward reporting and reconciliation by receiving automated balances and statement messages from your bank in a format that’s compatible with your ERP.
What are the advantages of outsourcing your bank connectivity project to AccessPay?
Assembling internal project teams, co-ordinating with the bank and implementing the necessary changes takes time.
We offer the quickest route to go live by circumnavigating the hoops you’d need to jump through to get your project off the ground on your own. Using AccessPay, the average implementation time is 12 weeks, so you can reap the rewards of having a direct connection far quicker in comparison to managing your project in-house.
Minimise project costs
Utilising AccessPay requires minimal project overhead in comparison to building your connection in-house.
In-house projects often require larger project teams and heavy investment in technical resource to meet the requirements laid out by the bank. This can often mean that key resources are diverted away from day-to-day tasks to build the initial connection and manage any on-going maintenance.
AccessPay builds and maintains all bank connections on your behalf, which significantly reduces the amount of investment and resource required to use the host-to-host service provided by your bank.
Leverage existing technology
Banks have very specific requirements around the method of file transfer, encryption and digital signature. Additionally, each bank will have their own permitted formats and message types.
We take care of the transformation and secure routing of financial messages automatically.
This is done by establishing a secure connection to your bank via the AccessPay platform, which already meets the security requirements laid out by your bank.
Our technology is also underpinned by a file transformation engine which automatically sends data to and from your bank in the correct format without any changes required to your back-office systems or output files.
Work with trusted experts
Building and maintaining host-to-host connections is our bread and butter. With backgrounds in banking, FinTech and payments, our team are truly experts in the ins-and-outs of financial messaging and corporate banking. It’s also likely we’ve worked with your banking partner many times before, drawing on our existing connections to ensure that your project is implemented within your desired timescales.
If you choose to work with AccessPay, you will be assigned an implementation consultant who will liaise with you and your banking partners to scope out the project and implement your connection within AccessPay. Once you’re onboarded, you will be allocated your own Customer Success Manager to help you manage your service going forward.
AccessPay enables Imperial College London to save upwards of £50,000 per year with a cross-border host-to-host bank connection.
We are proud to work with
Which payment file formats is AccessPay compatible with?
AccessPay is compatible with any payment file format due to our in-built file transformation engine; which can process any common format like CSV, Standard18 & PAIN files alongside less common formats.
Which banks does AccessPay connect to?
AccessPay can connect to any SWIFT member bank and supports direct connections to all tier 1 and 2 banks capable of supporting a host-to-host connectivity service.
We currently support host-to-host connectivity projects with Barclays, HSBC, JPMorgan, Citi, RBS, Societe Generale, Lloyds, Standard Chartered and many more.
What are the costs involved?
AccessPay doesn’t charge transaction fees. Instead, we operate on a flat, annual subscription model, plus a one-time professional services fee of 25% to cover initial set up costs.
Your bank will also charge separate fees for initial set up and maintenance on their end.
What payment controls does AccessPay support?
- Automatic upload and transformation of payment files
- Automatic validation and authentication of payment files
- Customisable approval workflows and strict user access management controls
- Automatic file encryption and data masking
- Real-time visibility over payment file statuses alerts specified users to files that require attention
For more information, visit https://accesspay.com/solutions/payment-controls/
How many banks can Accesspay connect to in one instance?
There isn’t a limit on the number of connections we can manage for you.
If you require multiple bank connections, we will work with you to scope out a phased project plan that meets your timescales and requirements.
How does AccessPay connect to my back-office applications?
AccessPay can connect to all of the finance applications you use to generate payment files or input transaction data in to via a choice of sFTP or API.
Access to our API documentation is available on request.
For more information, speak to one of our experts today
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