This collaboration brings the power of Yapily’s leading open banking infrastructure and extensive business account coverage to Allica Bank’s Business Rewards Account, making it easier, faster, and more secure for SMEs to manage their funds.
Solving real challenges for UK businesses
SMEs are the backbone of the UK economy, accounting for a third of employment and turnover. Yet, they often face time-consuming and frustrating banking processes. Manually transferring funds between accounts, dealing with potential delays or misdirected payments, and juggling multiple logins, take valuable time away from actually running the business.
By leveraging Yapily’s open banking technology, with its extensive business bank coverage across the UK and Europe, Allica Bank is now building on its mission to provide businesses with the banking they truly deserve, combining powerful digital tools with dedicated relationship manager support. Their flagship Business Rewards Account, launched in 2023, is already a popular choice. Now, by integrating Yapily’s open banking technology, Allica Bank is taking another significant step forward.
Introducing effortless top-ups
Thanks to this partnership, Allica Bank customers can now top-up their Business Rewards Account directly using secure open banking payments powered by Yapily. Instead of manually authorising and transferring funds between apps and accounts, business owners can log into their Allica account, select the amount they wish to top-up, and authorise the payment, all within the Allica Bank app. This means no more switching apps, manually entering sort codes and account numbers, or waiting for funds to clear. Our technology initiates payments securely and in real time, ensuring funds are transferred directly and efficiently. This topped-up money can then be used for day-to-day spending or easily transferred into an Allica instant-access Savings Pot.
Building on shared momentum and trust
This integration marks the first rollout of Yapily’s open banking solutions for Allica Bank customers, with more exciting developments planned for the future.
Allica Bank joins a growing list of forward-thinking companies like Adyen, Alipay +, Intuit QuickBooks, Pleo, and Zilch who put their trust in Yapily to enhance customer experiences and streamline financial operations. This partnership also comes during a period of strong growth for Allica, recently recognised by Deloitte as the UK’s fastest-growing fintech and ranked as Europe’s second-fastest growing company by the Financial Times.
Our CEO and founder Stefano Vaccino highlighted the focus on practical innovation:
“At Yapily, we believe in driving meaningful innovation that makes a difference for businesses and their customers. This partnership allows Allica Bank to bring the speed, simplicity, and security of open banking to their SME customers, empowering them to manage their finances with greater efficiency. We greatly value Allica Bank’s trust in our capabilities and are delighted that they see open banking as a core enhancer of their products. By removing manual processes and reducing errors, we’re not just helping Allica Bank’s customers save time, but allowing them to focus on growing their businesses.”
Allica Bank’s Product Director for Payments, Nida Sattar, emphasised the customer benefit:
“Business owners are busy people. It’s why, when it comes to their bank, our focus is on how we can make life easier for our customers, alongside the human support they get from their relationship manager. Being able to easily and quickly top up your account, rather than faffing around with manual payments, is one great example of this. And using open banking in this way provides important security benefits for our customers, too.”
“Yapily has been great to partner with on this. They totally got what we wanted to do, and we’re already exploring how else we can deepen our use of open banking further with our current account and other products.”
What’s next?
Stay tuned for more updates on how Yapily and Allica Bank are working together to deliver the future of business banking. If you want to start powering seamless account top ups today, book a call with one of our open banking experts.
