Money Mover Completes Ground-breaking Pilot with NatWest

Money Mover Completes Ground-breaking Pilot with NatWest
23.05.2017 09:45 am

Money Mover Completes Ground-breaking Pilot with NatWest

Payments

Money Mover, the innovative international payment service, has completed a ground-breaking pilot with NatWest, that confirmed its technology, security, KYC procedures and customer experience deliver at the highest level.

In April 2016, and attending the Innovate Finance Global Summit in London, Hamish Anderson, CEO of Money Mover, was set a challenge by one of the world’s most highly regarded strategy consultancies.  Could Money Mover make its innovative international payments proposition for SMEs fit for purpose for one of the UK’s major banks?  In what became a competitive pitch to NatWest the answer was a resounding ‘yes’.

A shared outlook in terms of delivering the best possible service, a shared work ethic that ensured similar standards and delivery was achieved, all coupled with the class-leading technology, saw Money Mover’s international payments platform for SMEs beat four other companies to partner with NatWest to build a prototype for a six-month pilot.

Hamish Anderson, CEO of Money Mover, said: “We were delighted to be chosen as NatWest’s partner for this important project.  We have always been confident that our platform and customer proposition is a game changer for SMEs.  But this pilot has proved that we can operate at the highest level, and most importantly, that our technology, security, service and user experience is class-leading and ready to be deployed by other financial institutions.”

July 2016, a plan was in place and, working with the NatWest Innovation Team, a pilot programme was established to offer NatWest’s London and South East’s SME customers a new user interface for international payments. For the purposes of the prototype, Money Mover was tasked to create a ‘white labelled’ service, provided by Money Mover but under the auspices of NatWest.

The aim of the pilot was to obtain feedback from its customers on the radically different user interface and process flow provided by Money Mover. NatWest, understandably, was not prepared to compromise on its high standards of security, compliance, reliability, speed and service, so the bar for the innovative fintech startup was set high.

The customers selected ranged across a number of industries and sectors and included sole traders with £100,000 turnover to high growth SMEs and small industrial companies.

Money Mover was able to was to offer customers a modern look and feel with easy functionality, use and seamless customer journey.  For the customer this meant having access to activity reports, transparency on fees and progress of the transaction, and flexible tools for reporting and proof of payment.

For its part, NatWest wanted the ability to switch on and off functionality, such as forward payments and use of some currencies, depending on circumstances.

Money Mover was able to offer all of this.  It undertook its own KYC checks to supplement NatWest’s knowledge of the customer, added its logo and identity to its platform, combining the best of both to ensure the customer got the functionality and ease of use they needed, while feeling comfortable that it was part of NatWest’s familiar stable of services. To ensure a flawless experience for the customer, Money Mover was also able to offer dedicated customer support for the duration of the pilot.

For Money Mover, selection for the pilot confirmed that its carefully crafted UI and UX were class-leading. It also demonstrated it could raise its game to work strategically with one of the world’s largest banks to become a trusted and secure provider.

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