Bottomline Powers Faster Payments for Vive via its Real Time Express Service
September 25 2019 - 4:00AM
Bottomline Technologies (NASDAQ:EPAY), a leading provider of
financial technology that helps make business payments simple,
smart and secure, today announced that new financial services
entrant, Vive, is set to deliver real-time payments to its future
customers on day one of trading.
Vive, which is well-advanced in the bank
authorisation process, has taken advantage of the easy to connect,
real-time payment offering from Bottomline. The new SAAS- based
solution was launched in July in partnership with Starling Bank,
and uses API-led technology, alongside Starling’s banking licence,
to create a 24x7 direct connection to the Faster Payments Scheme
(FPS).
“As a new player in financial services, we
understand that outstanding customer service is key to our
success,” said Nick Anthony, CEO at Vive. “When it comes to
payments, it means we have to deliver a fast, secure, and
trouble-free experience that customers have come to expect.”
Bottomline’s award-winning technology and
Starling Bank’s existing connection to FPS enables industry
newcomers like Vive to enjoy many benefits. The cost and complexity
of direct access projects, the ongoing overhead of managing the
Scheme and the challenging development and service inertia in the
agency banking models are all avoided. This new service means that
24/7 instant payments, across different rails, will be included in
Vive’s customer proposition from day one, and will deliver a highly
competitive service to the market.
“Together we have built a comprehensive
solution, covering Faster Payments, Direct Debits and card
payments,” said Anthony. “It’s allowed for seamless integration
with our platform, giving us complete control of our cash flow in
real-time.”
Bottomline’s Universal Aggregator model offers
three different access solutions to the Faster Payments Scheme –
Direct, Directly Connected Non-Settling Participant (DCNSP) and
Indirect.
"As payments continue to evolve, our experience
and investment in innovation allow us to offer clients flexible
payment solutions and market leading capabilities." said Rob
Eberle, CEO and President of Bottomline. "With our open
architecture and through collaborative partnerships such as the one
with Starling Bank, we can deliver winning solutions to forward
thinking organizations like Vive.”
“We have been continually impressed with the
level of support and technical expertise provided throughout
implementation, and we look forward to a long and productive
partnership with Bottomline,” said Anthony.
Planning to launch in 2020, Vive will serve
customers who currently find it difficult to access affordable
credit.
About Bottomline Technologies:
Bottomline Technologies (NASDAQ: EPAY) helps make complex business
payments simple, smart, and secure. Corporations and banks rely on
Bottomline for domestic and international payments, efficient cash
management, automated workflows for payment processing and bill
review, and state of the art fraud detection, behavioral analytics
and regulatory compliance solutions. Thousands of corporations
around the world benefit from Bottomline solutions. Headquartered
in Portsmouth, NH, Bottomline delights customers through offices
across the U.S., Europe, and Asia-Pacific. For more information
visit www.bottomline.com.
Media Contact:Gemma Waite /
Jacqueline PowellBottomline Technologiespr@bottomline.com
About Starling:Starling Bank is
a digital bank based in the UK, operating current accounts,
business accounts, a Marketplace and banking services for banks,
e-money institutions, government and corporates, as well as a
revolutionary concept of Banking-as-a-Service. Headquartered in
London, Starling is a fully licensed and regulated bank, founded in
2014 by former Allied Irish Banks COO, Anne Boden.
Contact Starling Banking
ServicesJessica Blakey E:
jessica.blakey@starlingbank.com
About Vive:Vive is a new
digital bank (licence pending), planning to launch in early-2020,
aiming to serve customers who currently find it difficult to access
affordable credit. Leveraging the power of open banking, Vive are
building a credit engine and money management app, specifically
designed around the needs of these underserved customers. Founded
by industry experts committed to financial literacy, Vive’s mission
is to equip their customers for long-term success.
Contact ViveNick AnthonyE:
nick.anthony@vive.co.uk
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