UK digital bank Starling has partnered with Bottomline Technologies to boost its real-time payments.
In addition, Bottomline launched its Real Time Payments Express Service. The solution is 24/7 and allows banks and corporates to send, receive and track payments in real-time to any bank account.
The Real Time Payments Express, powered by Starling, will supply an API-driven real-time payment and settlement service. In addition, it provides all the core benefits of the historical access methods to Faster Payments.
Furthermore, the solution is SAAS-based and equipped with full tracking to allow customer to see exactly where their payments have been made and received in the network.
“Real-time payments are becoming the new norm around the world. In the UK, where the Faster Payments Scheme has enjoyed over a decade of growth, we have the technology needed to allow more participants to gain the benefit of full access to 24×7 instant payments,” said Julian Sawyer, Head of Banking Services at Starling Bank. “Our new solution partnered with Bottomline delivers exactly this.”
“There is real transformation coming into the U.K. through the New Payments Architecture, Open Banking and PSD2 which gives rise for innovative partnership approaches like our Real Time Payments Express,” said Nigel Savory, Managing Director, Europe, Bottomline Technologies. “We insulate our clients from the ambiguity ahead by plugging them into Bottomline, where we remove the complexity and future-proof the changes ahead for them.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBottomline already supports CHAPS, SWIFT, Bacs, Visa B2B Connect, Direct Access Faster Payments, Paym, CASS and various other payment rails through their Universal Aggregator, which will now offer the new Real Time Payments Express Service.
At the 34th Retail Banker International’s Global Awards (RBI Awards 2019), Starling Bank won Best Open Banking Strategy 2019.
Starling has a fervour for embracing Open Banking. It has its own set of open APIs that are available for anyone to use through its developer portal. Its marketplace focuses on customer-centricity and strong partnerships.
It collaborated with FreeAgent to help small business owners cut the time they spend on admin.
Small business owners across the UK often find themselves spending hours upon hours on repetitive admin.
The partnership will enable small business owners to step back from the admin and allow the FreeAgent platform to digitise their finances.
Growth Street partnered with UK challenger lender Starling Bank last July.