London, 12 July, 2022 – Open banking platform Yapily has teamed up with spend management platform Soldo to create a simplified payments experience for businesses across Europe.
According to recent research, poor spend management is costing European businesses a combined total of €301 billion annually due to a lack of spending control. What’s more, senior finance staff are currently spending more than half (51%) of their time on administrative tasks that could be digitised, and in some cases up to 30 days a year processing expenses.
Leveraging Yapily Payments, Soldo customers can top up their Soldo account directly from their business bank account. The customer receives the funds into their account instantly, streamlining the account funding process, making it easier and quicker to get funds into Soldo. Businesses will also benefit from a frictionless user experience as there is no need to leave the Soldo application to make the top up transfer.
Yapily has enabled Soldo to process over £6 million in open banking payments, helping thousands of businesses from SMEs to large businesses across the UK, Ireland, Italy, Germany, Netherlands, France, and Spain.
The partnership will see an exciting roadmap of open banking solutions added as Yapily continues to expand its product suite and geographic footprint across Europe.
Carlo Gualandri, Founder and CEO at Soldo, said: “Our customers are at the heart of our business, and we are constantly striving for ways to make their lives easier. With Yapily and open banking, we are helping our customers to take back control of their finances. We are particularly excited because the partnership will allow us to continue evolving as we look to embed more of Yapily’s open banking solutions into our offering.”
Stefano Vaccino, Founder and CEO at Yapily, commented: “We’re delighted to be partnering with Soldo. This is another brilliant example of how open banking is improving the lives of business owners and their employees. It’s always exciting to see two innovative fintechs coming together to bring the benefits of open banking payments to businesses across Europe. I’m personally looking forward to continuing to work with the team at Soldo to deliver a more compelling payment experience to their growing customer base.”
One of the longer-lasting effects of the pandemic has been a shift to hybrid finance teams. To accommodate for this new way of working, finance leaders need to put in place cloud software, security measures, ground rules, and create a culture with opportunities for all team members to collaborate and speak up.