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Manchester fintech firm AccessPay is investing £100k in launching a campaign to help treasurers and senior finance professionals of global corporations utilise the power of PSD2.
In an article posted last week on social network LinkedIn, CEO Anish Kapoor invited treasury and finance mavericks to become early adopters of the new AccessPay multi-bank balance visibility tool, a free solution he hopes will test the power of PSD2 and Open Banking and challenge bank readiness when it comes to these industry changing regulations.
The campaign has been designed to open the debate around whether corporates are getting the most out of what PSD2 and Open Banking regulatory changes bring to the market. The solution AccessPay are offering to 10 businesses free of charge, will include testing and reviewing the ability and readiness of UK and European banks to deliver PSD2 connectivity to their business clients.
Under the new open banking regulations, the solution that AccessPay has developed can retrieve balance information from UK & European domiciled banks using a number of mechanisms, such as APIs. However, this all depends on whether the banks have a PSD2 and Open Banking enabled connection.
Anish Kapoor, CEO at AccessPay said: ‘We’ve all seen the post-regulation headlines but the majority focus on the benefits for the consumer, not corporates. There are potentially enormous business advantages to using PSD2 and Open Banking but there’s nowhere near enough understanding of the real-time cash optimisation, performance measurement, security and time-saving benefits that companies are now able to access.
‘Corporates want and need real-time access to all of their financial data, drawn from all over the world, and we are looking for a select band of businesses that will work with us to challenge the banks and help us refine and build market awareness as we enter this new era of financial freedoms.’
Interested businesses can contact AccessPay and register for the programme here.