Yapily The Fairer Financial Revolution Report

The fairer financial revolution How open banking is transforming the financial landscape by helping millions of underserved individuals and businesses access better financial services

The Fairer Financial Revolution Yapily 2022

Changing the face of finance For decades, financial institutions have kept customers’ data under lock and key, making it hard to switch banks and compare deals without compromise.

Open banking was introduced to break down these barriers, helping customers take back control of their money and make better financial decisions. Open banking has since prevailed as a key enabler of innovation, creating a fairer financial landscape for individuals and businesses alike.

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The Fairer Financial Revolution Yapily 2022

Powering Fintech innovation

Supercharged payments

Automated accounting

Tailored digital banking

Serving a range of verticals, our open banking solutions are efficient and scalable, offering a seamless user experience.

Offer a smooth payments experience with accountto-account payments. No card rails or ridiculously high transaction fees necessary.

Remove the headache of manual accounting with automated data entry, easy reconciliation, and real-time cash flow visibility.

Get the full picture with customer accounts and transaction data to offer bespoke banking tailored exclusively to the customer.

Simplified crypto investments

Accessible lending

Enhanced wealth management

Powerful proptech

Offer a seamless cryptocurrency investment journey with instant fiat deposits and an embedded payment journey.

Deliver a fairer approach to lending using real-time transaction data to serve all customers - even those with little to no credit history.

Streamline how customers invest and manage their money with real-time identity data drawn directly from their bank.

Leverage the power of open banking to digitise how individuals and businesses rent, buy, sell, and manage real estate.

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The Fairer Financial Revolution Yapily 2022

Democratising financial services In a hyper-personalised world, customers expect financial services tailored specifically to their needs. The efficiency of today’s technology has paved the way for bespoke financial experiences. Yet, many providers still rely on outdated legacy systems that often make many solutions inaccessible to a large proportion of customers.

Yapily Data provides a simple way to connect to thousands of banks and institutions, enabling access to customers’ account information and transaction data through a single API. Leveraging these insights allows financial providers to analyse customer profiles in real-time to offer the right products and services.

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The Fairer Financial Revolution Yapily 2022

Customer verification in a digital-first world As the world continues to evolve into a digital-first landscape, businesses no longer need tedious, form-heavy verification processes that require endless manual entry. Yet, many haven’t updated their systems and still rely on these outdated verification processes, resulting in friction on both sides.

Yapily Validate, coupled with Yapily Data, leverages real-time data through open banking to instantly verify account ownership without the need for bills or bank statements.

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The Fairer Financial Revolution Yapily 2022

Case Study

Salad Money: Recognising people are more than their credit score Financial services are the beating heart of our economy, but they’re not nearly as accessible as they ought to be - particularly for those in the public sector. Key workers rely heavily on recurring overdrafts and highcost credit to support their income, putting themselves in a toxic cycle of debt.

Retrieving and analysing up to two years’ worth of transactions By partnering with Yapily, Salad Money can now access real-time financial data, retrieving and analysing up to two years’ worth of transactions to provide NHS and public sector workers with an automatic review of their benefit and credit entitlement. By accessing an individual’s actual financial status - rather than incomplete credit scoring data - Salad Money can better serve a larger proportion of customers.

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The Fairer Financial Revolution Yapily 2022

Case Study

Results Salad Money has created a positive and tangible impact on its customers’ lives, resulting in:

Identifying over £477,000 in unclaimed benefits

Providing benefit insight to over 11,000 applicants

Lending more than £13M to over 13,000 individuals

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“By utilising Yapily’s open banking infrastructure we’ve been able to gain access to accurate, real-time account data, which has been instrumental in improving the financial wellbeing of NHS and public sector workers, identifying a potential £477,000 in unclaimed benefits so far”

YA P I LY + SALAD MONEY

____ Tim Rooney, CEO, Salad Money

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The Fairer Financial Revolution Yapily 2022

Reinventing the payments landscape For decades, card payment networks riddled with hidden costs and fraud risks have dominated the way businesses collect and make payments.

Card payment infrastructure wasn’t built for businesses in a digital-first economy, yet businesses have had no alternative.

Yapily Payments enables the creation and execution of direct account-toaccount payments, creating a smooth payment experience for end-users.

Working in the background, we silently power your payment experience so you can focus on the important stuff.

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The Fairer Financial Revolution Yapily 2022

Case Study

Volt: providing merchants with a frictionless payments experience Fragmented payment methods. Slow payment settlement. Risk of fraudulent transactions. These are just a few obstacles to name that merchants have long tolerated with outdated payment infrastructures.

Powering real-time payments processes Since partnering with Yapily, Volt has eliminated the risks associated with having a single point of failure while boosting the speed and resilience of transactions.

Merchants no longer need to be tied to card networks, making their payments experience faster, cheaper, and more secure.

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The Fairer Financial Revolution Yapily 2022

Case Study

Results Powered by Yapily Payments, Volt has eliminated risks and boosted spending, resulting in:

Nearly 80% saved in fees by merchants

Conversions rate up to 40% higher than card

Millions in payment volume processed via Volt’s payments gateway

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The Fairer Financial Revolution Yapily 2022

“Yapily have played a vital role in strengthening the resilience, reach and reliability of Volt’s global realtime payments network. It’s clear that Yapily’s infrastructure, coupled with the platform Volt has built, is powering the future of payments.” ____ Jordan Lawrence, Co-Founder and

Chief Business Development Officer, Volt

YA P I LY + V O LT

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The Fairer Financial Revolution Yapily 2022

Streamlining complex bulk payments You’d expect with all the advances in financial technology that sending multiple payments would be a simple process for SMEs but it’s not. Many are still stitching the data themselves, making payment runs between multiple accounts, invoices, and payees to get the job done. In the UK alone, £1 trillion per year is transferred manually by businesses, creating significant space for error.

Yapily Bulk simplifies sending payments to multiple recipients at once, streamlining the process from a single bank account in one transaction. Relieving the headache of manually transferring payments speeds up the process through automation, saving businesses precious time and resources. Streamline invoices; automate payroll; initiate refunds. The opportunities are endless.

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The Fairer Financial Revolution Yapily 2022

Case Study

Comma: Sending bulk payments in minutes, not hours For years, bulk payments had only been accessible to medium and large scale businesses with corporate banking accounts, leaving SMEs to manually set up and send payments themselves. Since the requirements for bulk payments vary from bank to bank, this made processing multiple payments even more of a headache to deal with.

Automating the headache of sending multiple payments Working in close partnership with Yapily, Comma has simplified the complex bulk payments process using open banking.

With consent from the SME, Yapily Bulk initiates payments to multiple recipients without compromising the user journey, providing an enhanced contextual and embedded payments experience.

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The Fairer Financial Revolution Yapily 2022

Case Study

Results Since leveraging Yapily Bulk to implement an embeddable payment integration, Comma has:

Processed over £12 million in bulk payments

Enabled more than 10,000 suppliers and employees to get paid on time

Saved finance teams around 77% of the time they usually spend each month processing bulk payments

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The Fairer Financial Revolution Yapily 2022

“It’s fair to say that Yapily is an integral part of Comma - the value that Yapily adds by delivering API standardisation and bank integrations really helps us focus on our mission to make payments better for SMBs.” ____ Ger Kelly, Head of Banking, Comma

YA P I LY + COMMA

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The Fairer Financial Revolution Yapily 2022

Powering the future of fairer finance Yapily is here to help you create better and fairer financial services for everyone through the power of open banking.

Contact us

hello@yapily.com Visit us

www.yapily.com

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The Fairer Financial Revolution Yapily 2022

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