back Back

Qualco UK goes live with two new Open Banking solutions

By Joy Dumasia

April 20, 2022

  • Account to Account Payments
  • API
  • API Banking
Share

Qualco UK went live with two new solutions featuring open banking technology delivered by a number of key partners. Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for a new client, Simon Jersey Limited. The innovative approach includes letters and emails being sent to customers containing a unique QR code, which, when scanned, opens up a simple and secure payment journey. 

Customers with mobile banking apps or online banking are able to select the bank account of their preference, use their normal login protocols and authorise payment without the need to input card details or reference numbers. Options include the ability to pay the full balance immediately, or to make regular repayments, much like a traditional standing order. 

The second feature makes use of Experian’s Affordability Passport, which uses Open Banking technology to understand the customer’s financial situation by intelligently analysing the activity of their chosen bank account(s). The Affordability Passport removes the need for manual financial assessments, subject to the customer providing consent, saving time and effort for both the customer and client alike. 

Charlie Wong, Head of Information Technology at Qualco UK, said: “We are constantly looking to harness new technology in an effort to deliver a wider range of services to our clients and a better experience for their customers. We are delighted to be working with great partners, such as Ecospend, Themis Global and Experian, to achieve this goal.” 

James Hickman, CCO, Ecospend, said: “We’re pleased to announce our partnership with Qualco in order to help them on the next step in their digital payments journey. Our Open Banking payment solution will provide a more convenient payment method that saves customers time while also offering a lower cost option to traditional card payments. The payment method is also much more secure, so customers can have peace of mind when making their payments.”

Previous Article

April 20, 2022

Yapily partners with Yonder to allow access to credit without a credit score

Read More
Next Article

April 20, 2022

Fyle launches real-time spend management on Visa credit cards

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

Account to Account Payments

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 15, 2024

PXP Financial taps Mastercard to tackle payment fraud

Read More

April 15, 2024

GoCardless extends partnership with Sage to reach new markets

Read More

April 15, 2024

Al Ansari Exchange integrates Aani for seamless instant payments

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023