Moorwand, a dedicated BIN Sponsor that turns compliance into a competitive advantage, today announced that it has been selected by Telleroo, a payments company focused on the accounting sector, for its e-money issuing and digital banking capabilities.
Telleroo brings the speed, simplicity and ease of the consumer fintech user experience to accountancy firms and bookkeepers. Its solution allows those making payments on behalf of small businesses to combine these payments across all clients into a single, unified workflow.
Through Moorwand’s digital banking and e-money expertise, Telleroo will be able to streamline and simplify its payments in a robust, commercially viable and compliant way. In addition, Moorwand’s expertise and sponsorship will make navigating the payment regulation simple, allowing Telleroo to focus on making their core solution the best it can be.
Moorwand’s access to best-in-market banking institutions and technology providers allows Telleroo to support a multitude of use cases, evolving its offering for its partners and their clients long-term. This means that pay runs, including payroll and supplier payments, can be scheduled for future dates, reducing the risk of human error and removing the need to block out time for a payments run on a specific date and time.
“This partnership means that we can offer a fully-compliant payment service, powered by Moorwand, without becoming a bank,” said Michael Riedler, MD and Co-Founder, Telleroo. “The provision of banking and payment services involves a lot of red-tape and regulation which Moorwand’s expertise and sponsorship means we can easily navigate. We want our focus to be on giving our customers the best and most convenient user experience—working with Moorwand means we can do that.”
“It no longer makes sense for payment services to be limited to banks,” said Robert Courtneidge, CEO, Moorwand. “Telleroo are solving a problem accountancy firms have faced for a long time—as consumers, we’re used to payments becoming ever easier, but payroll and supplier payments remain manual and laborious. We’re excited to be a part of bringing a better user experience to an underserved market.”