Open banking infrastructure platform Yapily has teamed up with Juni, the financial platform built for e-commerce, to help e-commerce businesses gain a real-time overview of their finances, maximise cash flow, and get better credit decisions.

In 2021, retail e-commerce sales amounted to approximately $5.2 trillion worldwide. Despite the current economic climate, this figure is forecast to grow by 56% over the next five years, reaching $8.1 trillion by 2026. As the industry continues to accelerate, e-commerce businesses are increasingly looking for ways to future-proof their businesses and streamline their finances long-term.

Utilising the power of open banking, with the customer’s consent Yapily Data enables Juni to instantly fetch and aggregate information from multiple bank accounts, providing its customers with a holistic view of financial performance. By analysing this data, Juni can also complete a faster, fairer, and more accurate way to assess creditworthiness, reaching credit decisions more quickly whilst improving access to credit for e-commerce businesses.

As a result of the partnership, Juni customers can also make instant top-ups to help control cash flow with ease. Using Yapily Payments, with the customer’s consent Juni can pull funds directly from the customer’s business bank account. All payments are authorised using strong customer authentication (SCA) and once set-up is complete, there is no need for customers to leave the Juni platform to make the top-up transfer, creating a streamlined payment experience every time.

So far, Yapily has enabled Juni to process over £2.2 million in open banking payments and see more than a 500% increase in open banking usage.

Samir El-Sabini, Co-Founder and CEO at Juni, said: “Gone are the days of worrying about financial visibility, time wasted on manual tasks, and lengthy onboarding processes. With Yapily and open banking, we are enabling e-commerce businesses to keep pace with demand and focus on what really matters: growth. Selecting Yapily as Juni’s open banking partner of choice was a no-brainer; the depth, scalability, and reliability of its coverage enables us to meet the needs of our customers, now and in the future.”

Stefano Vaccino, Founder and CEO at Yapily, comments: “Juni are on a phenomenal journey. It’s a privilege to see how Yapily and open banking are enabling them to continue to disrupt the B2B e-commerce space. Our partnership represents the best in fintech innovation coming together to empower businesses to thrive. I can’t wait to see what more we can achieve together.”

This is the start of an exciting roadmap for the fintech duo, with geographic and product expansion on the horizon. Juni’s open banking-enabled solutions are currently live in the UK and will be rolled out across Europe in the coming months, starting with Sweden, Germany, and the Netherlands. Juni also plans to expand its range of open banking use cases with Yapily, leveraging Yapily Payments to offer a direct account-to-account payment solution to its customers beyond account top-ups. The Swedish fintech e-commerce platform notably secured a further $206 million in funding in June this year, including a $100 million Series B round.