Financial Cloud, a provider of enterprise software solutions, partnered with bank payment company GoCardless to improve payments for financial service providers in the United Kingdom.
This collaboration will see GoCardless’ Direct Debit payments and Instant Bank Pay (IBP), its open banking payment feature for “one-off payments, embedded directly into the Financial Cloud CRM platform.”
The offering brings a variety of benefits to financial service providers.
An “all-in-one” interface will allow businesses to manage payments and customer data in one place, “providing actionable insights into customer behaviors and payment trends.”
The integration also enables merchants “to scale — collections and payment reconciliation remain manageable, even as volumes grow in line with their customer base.”
For their part, payers can use IBP to make “secure bank payments in seconds through a simple payment link.”
This makes ad hoc transactions, such as “early loan repayments, quick and hassle-free.”
Kyle MacDonald, CEO of Financial Cloud, said:
“We’re excited to partner with GoCardless, a trusted expert in bank payments with a wide range of solutions. The team shares our commitment to innovation and customer-centricity, and together, we’re enabling businesses to simplify payment processes, enhance operational efficiency, and elevate the customer experience.”
Tom Metcalfe, Director, UK&I Partnerships at GoCardless, said:
“The financial services sector is evolving rapidly, with increasing demand for easy, efficient and secure payment solutions. By partnering with Financial Cloud, we’re helping businesses stay ahead of the curve with the latest technology, seamlessly integrated into a platform they know and trust.
GoCardless says it works with over 350 partners, “allowing businesses to seamlessly integrate bank payments into the platforms they use everyday.”
As noted in the update, GoCardless is a bank payment firm.
Businesses, from start-ups to household names, use GoCardless to collect and send payments “through direct debit, real-time payments and open banking.”
GoCardless reportedly processes “$130bn+ of payments annually across 30+ countries; helping customers collect and send both recurring and one-off payments, without the chasing, stress or expensive fees.”
They claim to use data and insights to “improve payment success, reduce fraud and, with open banking connectivity to over 2,500 banks, help our customers make faster, more informed decisions.”
They are headquartered in the UK, with offices in Australia, France, Ireland, Latvia and the United States.
As mentioned in the announcement, Financial Cloud is a provider of enterprise software for financial services.
They offer a unified CRM platform with a “shared view of every customer, streamlining operations and enhancing customer experiences.”