Qualco UK, which delivers panel management solutions and analytics that are focused on debt resolution, has reportedly gone live with new solutions leveraging Open Banking tech.
Having teamed up with Ecospend and Themis Global, Qualco UK is providing account-to-account payment options, under a white label model, for its new customer, Simon Jersey Limited.
The new approach includes letters, emails and SMS being sent to clients, containing a unique QR code, which, after being scanned, opens up an intuitive and safe payment journey.
James Hickman, CCO at Ecospend, stated:
“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.”
Whether it’s paying the full balance right away, or making regular repayments similar to a traditional standing order, clients with mobile banking applications or online banking can make a safe and secure Open Banking payment by choosing their preferred bank account, use their regular login protocols and authorize/approve payment, without having to enter card details or reference numbers.
The second feature reportedly makes use of Experian’s Affordability Passport, which leverages Open Banking tech in order to understand the client’s financial situation by intelligently analyzing the activity of their preferred bank accounts.
Subject to the client providing consent, the Affordability Passport eliminates the requirement for manual financial assessments, thus helping to save time and considerable effort for the customer and client.
Charlie Wong, Head of Information Technology at Qualco UK, remarked:
“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.”