Qualco UK today went live with two new solutions, featuring open banking technology delivered by a number of key partners.
Working with Ecospend and Themis Global, Qualco UK introduced account-to-account payment options, under a white label model, for new client, Simon Jersey Limited. The innovative approach includes letters and emails being sent to customers, containing a unique QR code, which when scanned, opens up a simple and secure payment journey.
Customers with mobile banking apps or online banking are able to select the bank account of their preference, use their normal login protocols and authorise payment, without the need to input card details or reference numbers.
Options include the ability to pay the full balance immediately, or to make regular repayments, much like a traditional standing order.
Don't miss out on any breaking news or insightful opinions!
Subscribe to our free newsletter and stay updated on the go!
By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email.
The second feature makes use of Experian’s Affordability Passport, which uses Open Banking technology to understand the customer’s financial situation by intelligently analysing the activity of their chosen bank account(s).
The Affordability Passport removes the need for manual financial assessments, subject to the customer providing consent, saving time and effort for both the customer and client alike.
Commenting on the new solutions, Charlie Wong, Head of Information Technology at Qualco UK said: “We are constantly looking to harness new technology in an effort to deliver a wider range of services to our clients, and a better experience for their customers. We are delighted to be working with great partners, such as Ecospend, Themis Global and Experian, to achieve this goal.”
James Hickman, CCO, Ecospend, said: “We’re pleased to announce our partnership with Qualco in order to help them on the next step in their digital payments journey. Our Open Banking payment solution will provide a more convenient payment method that saves customers time, while also offering a lower cost option to traditional card payments. The payment method is also much more secure, so customers can have peace of mind when making their payments.”
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
