Paylink Solutions and Ecospend are celebrating a win after a successful time at the Credit & Collections Technology awards.
Together with partners Ecospend, we were named Open Banking category winners at the Credit Connect UK event, which celebrated the impact of technology in the credit and collections sector.
Ecospend’s pay-by-bank technology has allowed us to collect instant, direct and cost-effective payments underpinned by bank-level security.
Jill Sparks, Payment Services Director at Paylink Solutions, said: “We’re delighted with our award win with our partners Ecospend. The benefits of open banking to the sector are undeniable.
“This partnership is helping customers who are in financial difficulty and in debt solutions make their affordable repayments through a seamless bank-to-bank payment transfer.
“Since going live, we have already seen a strong level of adoption of account-to-account payments, with transaction volumes increasing 66.3% after just one month.”
James Hickman, CCO of Ecospend, said: “It is great to see the success and development of Open Banking in the credit and collections sector recognised in this way.
“Through our partnership with Paylink Solutions, we provide an account-to-account payment solution which is more convenient for customers, not only improving efficiency, but also reducing operational costs for the business itself. We are pleased the benefits are already so tangible.”
To find out more about Paylink Solutions’ Embark application, visit their website where you can request a demo tailored to your organisational needs: www.paylinksolutions.co.uk
About Paylink Solutions
Paylink Solutions builds multi-award-winning digital affordability and payment arrangement solutions for the collections industry to help them understand their customers affordability and provide affordable outcomes.
Paylink Solutions’ software is now the most widely used within the collections industry with more than 25 organisations using it to help thousands of customers every day, providing an integrated digital journey for customers to receive free debt advice.
Founded in 2017, Ecospend is a UK based Open Finance technology platform provider. The beginning of the year saw Ecospend win the largest Open Banking contract with HMRC against over 80 companies; it now processes payments for Self Assessment, VAT, Corporation Tax and PAYE. In less than six months, Ecospend has processed over £5bn in Open Banking payments from its client portfolio.
Its proprietary technology underpins a product portfolio which is divided into two core areas: Payments (pay-by-bank) services and Marketplace solutions. Authorised by the FCA for Payments (PISP) and Data (AISP), it has full API bank connectivity within the UK and is expanding its coverage in Europe. The self-financed business employs a team of 50, is headquartered in London and will open an EU office in H1. For more information, see: www.ecospend.com