Bottomline Powers Faster Payments for Vive via its Real Time Express Service
Innovation enables UK Faster Payments Scheme availability for more participants
LONDON, Sept. 25, 2019 (GLOBE NEWSWIRE) -- 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 .
Media Contact:
Gemma Waite / Jacqueline Powell
Bottomline Technologies
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 Services
Jessica Blakey
E:
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 Vive
Nick Anthony
E:
