obconnect

Corporates

Affordable Access to CoP in the UK

In today’s dynamic financial landscape, Open Banking is not just a buzzword; it’s a catalyst for transformative change. For corporates, Open Banking provides the ability to validate bank account details accurately before making any payments, mitigating the risk of errors and fraud.

If your business operations require access to customer bank accounts for specific use-cases or initiating payments on their behalf, Open Banking Software and our FCA License can revolutionise your processes, offering both efficiency and value to your customers.

Corporates we work with

We have had the privilege of collaborating with large corporations, such as PayPoint, which utilises our software and license across multiple customer propositions. From facilitating Council Tax and Utility rebates to identifying customer affordability and vulnerability, our solutions enable financial inclusion and fairness for all.

Solutions for Corporates

CoP

CoP, or Confirmation of Payee, is an integral service offered by obconnect, designed to add a layer of security to your financial transactions by verifying account names against details in real-time.

CoP adds an invaluable layer of trust and security to your financial transactions, effectively serving as a powerful anti-fraud and error-checking mechanism.

From KYC to verifying new beneficiaries like suppliers or employees, CoP ensures that your corporate financial transactions are seamless and secure.

TPP Software

obconnect’s TPP (Third Party Provider) Software for Corporates is a specialised solution designed to facilitate seamless interactions between corporates and financial institutions.

From executing consented requests to initiating complex financial transactions, our software ensures compliance with Open Banking standards.

By implementing TPP Software, corporates can achieve real-time accuracy in their transactions and enjoy a seamless, simplified experience, from account verification to payment initiation.

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Frequently asked questions – FAQ

What are the benefits of Open Banking for corporates?

Open Banking offers numerous benefits for corporates, including enhanced financial management, improved cash flow visibility, and access to innovative payment solutions. By leveraging Open Banking, corporates can automate and streamline their financial processes, from invoicing to payments, leading to increased operational efficiency. Moreover, Open Banking enables more informed decision-making through real-time financial data access, facilitating better treasury management and strategic planning.

What does Open Banking mean for corporates?

For corporates, Open Banking represents a paradigm shift in how they manage their finances and interact with financial services. It signifies a move towards more open and interconnected financial ecosystems where corporates can seamlessly integrate their financial operations with various banking and fintech services. This not only enhances their financial operations but also opens up opportunities for innovation in product offerings, customer service, and business models, driven by the insights and efficiencies gained through Open Banking.

What Open Banking solutions are available to corporates?

A wide range of Open Banking solutions are available to corporates, tailored to meet diverse financial needs. These include solutions for streamlined payments and receivables, enhanced liquidity management, advanced analytics for financial forecasting, and customised financial services integration. Open Banking solutions also facilitate better supplier and customer relationship management through efficient, transparent financial transactions and offer opportunities for corporates to access alternative financing options.

Do corporates need Open Banking?

While not mandatory, Open Banking can significantly benefit corporates by providing more control over financial data, enabling improved financial decision-making, and offering access to innovative financial products and services. For corporates looking to enhance their financial operations, reduce costs, and gain a competitive edge through digital transformation, Open Banking presents a compelling opportunity to leverage technology for strategic advantage.

Ready to unlock the potential of Open Banking?

Partner with us and experience the power of seamless integration, enhanced security, and unparalleled support.

Banking technology that has your back.

obconnect is regulated by the UK Financial Conduct Authority under the Payment Services Regulations 2017 with Firm Reference Number 935017.