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What We Do
Since 1989, Bottomline has been modernizing global business payments with connected solutions for more than 800,000 financial institutions and businesses in 92 countries.
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Our Company
This white paper on Open Banking offers practical advice on the scope of the evolving payments landscape.
Focused specifically on Open Banking and PSD2, it considers the impact this initiative will have on corporates and financial institutions alike, and looks at how cloud-based technology can insulate customers from the effects of continuing change, whilst optimising the way payments are processed.
The proposed regulatory, technological and operational changes will transform the UK payments landscape between now and 2023.
The principal milestones are Open Banking, the revised Payments Services Directive (PSD2) and the creation of the UK New Payments Architecture (NPA). These pivotal initiatives will drive the introduction of new payment processes and instruments, known as Overlay Services, such as Request to Pay, Enhanced Data and Confirmation of Payee.
A new Simplified Payments Platform (SPP) will be launched as a central infrastructure which will replace legacy systems, in particular, Bacs Direct Credits, Direct Debits, Faster Payments and cheque clearing.
Eliminate fragmented payment processes, centralize business payments, and speed up invoice and payments processing while reducing fraud risk.
Take the complexity out of collecting payments and streamline the process of receiving funds into your business. Designed to complement your sales channels and support a range of payment methods, increasing customer conversion.
Securely manage funds disbursements to your suppliers, customers, and partners, whether you know their bank details or not. Ideal for refund payments, claims processing, promotional campaigns, or compensation payouts.
