Volopa, the transaction, payments and expenses company, has announced a collaboration with Yapily, the Open Banking API provider. This partnership aims to deliver a seamless payment experience for finance teams powered by Open Banking technology, according to a statement from the company.
This new alliance enables direct connections between clients and their bank accounts for transfer authorisation. This includes Chief Financial Officers (CFOs), Financial Directors (FDs), and Treasurers, who can easily load company wallets and fund international payments without ever needing to exit the Volopa platform.
If a client’s balance decreases below their preferred level, they get notified and can make necessary top-ups with just a few clicks. The partnership between Volopa and Yapily is launching initially in the UK and but has future plans to expand to essential markets across Europe. This expansion aims to streamline and expedite payment processes for Small and Medium Enterprises (SMEs) on a large scale.
Commenting on the partnership, Ali Al Bajati, Head of Product at Volopa said, "Our collaboration with Yapily marks a significant milestone in making Volopa the go-to platform for international payments and expense management."
"Our UK clients can now load their company wallets and fund their international payments seamlessly. We are looking forward to expanding our integration with Yapily to provide further Open Banking-related capabilities shortly. Client-led innovation remains a central guiding principle for us, and this strategic alliance reflects our commitment to stay at the forefront of financial technology innovation."
Stefano Paoletti, VP of Sales in the UK at Yapily also shared his thoughts on the partnership, expressing delight at their partnering agreement with Volopa. He pointed out how Yapily's extensive open banking API connectivity and real-time bank access has significantly streamlined Volopa's funding process.
This optimisation allows for swift, secure, and direct transactions. He believes that this has not only simplified funding and international payments but also showcases the practical and significant impact of open banking in enhancing operational efficiency and customer satisfaction."
The collaboration is currently available to UK-based Volopa Business clients and supports 60 banks under this feature. The service is functional when the funding currency is GBP or EUR. This collaboration furthers the potential of open banking technology in the finance sector by offering efficient and secure solutions for banking and international money transfers.
Volopa provides a single comprehensive platform for finance teams that seamlessly integrates global payments, multicurrency prepaid company cards, and employee expense solutions, ensuring improved control and visibility. Founded with a commitment to growth and innovation, Volopa states the company's mission is to help businesses unlock their potential through simpler, faster, and more transparent payment solutions.