Finastra and AccessPay partner to enhance bank-to-corporate connectivity
By Gloria Methri
Software provider AccessPay has teamed up with Finastra to remove the barriers and reduce the costs associated with corporate banking’s host-to-host connections. The partnership aims to strengthen corporate relationships by enabling banks to offer direct connectivity for payments to a wider range of corporate customers.
Banks can offer seamless connectivity to their corporate customers, to any enterprise resource planning (ERP), payroll/human capital management (HCM) system, treasury management system (TMS), and other back-office systems, automating what are typically arduous and manual processes for finance teams at corporates.
Graham Morgan, Director of Strategic Alliances, AccessPay said, “Currently only the largest corporate customers benefit from direct connections for payments with their banks, it takes time and is challenging for the corporate to implement. This partnership with Finastra opens corporate-to-bank connectivity to all, shielding the corporate from the complexity of data transformation and speeding up the time to operation. Essentially, it is a payments game changer in embedded corporate banking.”
The embedded business banking functionality is facilitated via Finastra’s FusionFabric.cloud platform and the AccessPay app which connects to Finastra’s Fusion Global PAYplus and Fusion Payments To Go payment solutions.
Sigal Druker, Director, Payments Sales Enablement & Business Development, Finastra said, “Financial institutions must embrace the new world of payments to drive innovation, meet customer expectations and focus on service excellence. Through our joint solution with AccessPay, we enable corporates/business customers to benefit from a digitalized end-to-end payment transaction. With our trusted open payment solutions and thriving ecosystem of collaborative FinTechs, Finastra is helping financial institutions modernize their payments services, drive innovation, and create true business value for customers.”
Anish Kapoor, CEO and Co-founder, AccessPay said it is a game-changing move for his industry, “Our vision is simple. We want to simplify the integration between corporate finance systems and the banks, removing the complexity of these processes that is currently so prevalent today. This partnership is a huge step forward in our vision to bring more streamlined corporate-to-bank connectivity and showcases how easy it can be to deliver a customer experience more akin to personal banking when integrating with the AccessPay solution.”
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