What is Sanctions Screening?
Building and maintaining bank connectivity in-house is expensive, resource intensive and diverts key internal resources away from focusing on their day job. Unless you have the required budget and resource to employ a bank connectivity team internally, it’s likely that you will incur unnecessary costs that make the project unprofitable – not just to build a solution, but to manage ongoing maintenance.
Utilising third party expertise like AccessPay requires minimal project overhead in comparison to building your connection in-house and guarantees connectivity at a fraction of the cost.
It takes time to assemble internal project teams, co-ordinate with the banks and implement all the necessary changes. On average, this takes 18 months when managed in-house.
Using AccessPay, you can get up and running in as little as 12 weeks – thanks to our existing technology, in-house knowledge and banking relationships.
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.
By leveraging existing FinTech like AccessPay, you can greatly reduce internal technical burden by using existing technology that already meets the security and formatting requirements defined by your banking partners.
Understanding financial messaging standards, file formatting and the bank’s security requirements is complex. If you do not have the appropriate level of industry knowledge available internally, you risk significant delays and challenges to implementing and managing bank connectivity in-house.
AccessPay absorbs these complexities and gives you access to a responsive team of experts who work on projects like yours every day.
It’s also likely that we’ve worked with your banks many times before – drawing on our existing connections to ensure that your project is implemented within your desired timescales.
From design to implementation, to customer success and beyond; AccessPay is a trusted partner to thousands of businesses undergoing finance transformation.
We remove the complexity of change, delivering corporate banking projects with rapid time-to-value using a proven framework. That’s exactly why our clients give us a 5-star satisfaction rating and why 97% of our clients stay with us.
Before you’re onboarded, our team will work closely with you to identify your biggest goals and challenges before designing a tailored solution that meets your needs.
Throughout the implementation process we do the heavy lifting for you. Your project manager will keep in regular contact, ensuring your project is delivered on time. Whilst your implementation consultant takes care of the technical aspects with your banking partners.
As a dedicated partner, we will work with you continually to support any growth or change within your business, adapting to support your continued goals and objectives throughout your relationship with us. You will also be able to help guide our product roadmap – with access to our product portal you will be able to request new features, participate in customer feedback sessions and receive invites to beta test new products and services.
Once your project is live, your customer success team will work with you to ensure your continued success, with frequent service reviews and extensive UK-based support. As your embedded corporate banking partner, we will work with you continually to support any growth or change within your business, adapting to support your continued goals and objectives throughout your relationship with us.
We start by mapping out your existing banking infrastructure to establish the best method for connecting your systems, banks and payment rails
We’ll work with you to create a set of automated workflows that move your data from A to B in the right format.
Establishing appropriate auditability, access management, approval workflows and fraud prevention measures
We’ll assess your data and reporting requirements to help you access the relevant reports and transaction insights you need.