On the latest Banking Tech Awards, SurePay received within the class of Greatest PayTech Answer Supplier. The accolade recognises the fintech agency’s success in offering a safe and dependable Affirmation of Payee (CoP) platform to monetary establishments and organisations making funds and amassing funds throughout the UK and Europe.
Its key innovation, nonetheless, is providing companies of all sizes direct entry to CoP companies by way of an intuitive on-line portal. The portal’s pleasant interface exemplifies a much-needed emphasis on good consumer expertise within the B2B house, the place enterprise customers can profit from a easy but highly effective software for payee affirmation. SurePay’s enterprise growth supervisor, Richard Koldewijn, gives some insights into SurePay’s success.
“Our portal is a extremely highly effective and easy-to-use software for all method of organisations which must make or obtain funds, and it’s thrilling to see so a lot of our prospects realising main advantages from utilizing it,”Koldewijn says.
Certainly, SurePay’s portal is a world first, in that it options one built-in system with a extremely intuitive, user-friendly interface. Utilizing the portal is straightforward: customers merely go browsing, enter the account quantity and title or a file containing a number of account information, and obtain instantaneous affirmation of whether or not the main points are a match or not. Customers can additional generate PDFs as proof of examine.
“The advantages for companies are simple, however actually potent,” says Koldewijn. “By working protected and safe checks by way of the SurePay portal, companies and organisations can scale back the chance of fraud and mispayments.” Finally, as Koldewijn highlights, this results in actual enterprise advantages together with price financial savings and improved efficiencies.
“Time effectivity can be improved,” he says, “since there’s no want to go browsing to every other apps or banking channels to examine payee particulars.” There’s additionally the opportunity of upgrading the portal to incorporate different helpful options.
And the outcomes are clear. In response to Koldewijn, SurePay’s prospects have seen as much as a 90% discount in drop-out throughout buyer onboarding because of the simple CoP course of. There has additionally been an enormous 80% discount in fraudulent orders. “Our prospects have given us a extremely spectacular image of how SurePay has helped their enterprise. Buyer information checks now take seconds as an alternative of days and even weeks, and we’re informed that far fewer invoices are cancelled or go unpaid – a discount of 25% in some instances,” he says.
Presently, within the Netherlands, the portal is obtainable to massive corporates straight and to tons of of corporations. Prospects from an unlimited vary of sectors are utilising the service each day, together with taxi corporations, administrative places of work, massive industrials, automotive corporations, charity foundations, shopper credit score suppliers, vitality corporations and varied authorities accomplice organisations.
Within the UK, hundreds of thousands of Covid-19 support funds had been beforehand verified by SurePay, by title but additionally by enterprise or personal account. Presently over 20 banks, together with many extra corporates, are utilizing the SurePay portal. “In a single financial institution alone, as many as 100 staff actively use the portal,” Koldewijn says. The portal may also be made obtainable to companies by way of their banks – which means that banks can supply a protected and safe CoP service to their prospects as an additional industrial proposition.
While the portal is promising to realize additional traction with companies throughout the UK, SurePay already has a robust foothold within the UK CoP house. In addition to being utilized by over 40 UK banks and constructing societies, the SurePay platform was utilized by a serious official UK entity to assist coordinate huge numbers of funds throughout the complete inhabitants. And, SurePay is partnering with Swift to help UK organisations in making funds to the EU and additional afield.
Additional, as Koldewijn highlights, while there are different CoP suppliers working within the UK market, usually CoP is seen as an add-on to different companies; with SurePay, CoP is its core providing which implies the corporate is dedicated to innovating within the CoP house and offering a best-in-class consumer expertise.
One other main providing that SurePay has spearheaded is the supply of IBAN checks by means of a specialised portal. Working with the identical ease and ease because the CoP portal, the IBAN portal vastly improves the effectivity of processing cross-border funds.
Additional, Koldewijn explains how EU laws is gearing in direction of mandating all taking part banks within the EU when it comes to CoP checks. “We’re connecting with that want and options that may help that regulation throughout varied international locations,” he says.
This extensive spectrum of shoppers and strong but versatile providing reveals that SurePay has the capability and power to take care of massive enterprise requiring massive numbers of checks, the information and expertise in navigating completely different legislative frameworks, but additionally has the agility to cater to smaller entities and organisations with distinctive necessities throughout completely different markets.
The know-how behind the SurePay platform and consumer portal is the results of an revolutionary and extremely skilled staff. Nevertheless it’s actually the emphasis on an intuitive consumer expertise that has made SurePay such an interesting answer for therefore many.
The actual success story, as Koldewijn factors out, is making life tough for fraudsters however simpler for enterprise: “main crime is one thing we will determine and impede, however on the similar time, SurePay can mitigate errors which waste time and generate pointless price, while being very easy to make use of”. Proof of SurePay’s success, he suggests, is additional demonstrated of their excessive buyer satisfaction charges.
“Successful within the class for Greatest PayTech on the Banking Tech Awards is a extremely nice recognition of our successes and we’re extremely pleased with every thing we’ve achieved,” he says, “We’re very a lot trying ahead to the alternatives that lie forward.”