Tribe Payments announces Telleroo as first Bankbox customer

Tribe Payments announces Telleroo as first Bankbox customer
07.01.2020 09:38 am

Tribe Payments announces Telleroo as first Bankbox customer

Payments

Tribe Payments, a team of industry experts dedicated to delivering the future of payments, has announced the first implementation of its new Bankbox service. With technical integration completed in under one month, Telleroo has rapidly streamlined its bulk payment service for accountancy firms and bookkeepers, creating a single unified workflow for payroll and supplier transactions on behalf of their SME clients.

Bankbox, part of Tribe’s modular ISAAC platform, gives businesses easy access to banking systems, payment rails, and other services that would normally only be available through a direct bank integration. By standardising access, cutting out complexity and removing middlemen, Bankbox helps businesses give their customers choice, expand their reach, and reduce operational costs.

Launched at FinTech Connect in December 2019, Bankbox has allowed Telleroo’s accountancy firm customers make payroll and supplier payments directly from the payment files generated by accounting and payroll software such as Xero or Paycircle. Telleroo removes the need for manual processing of these payments runs and the rekeying of payment information, making SME finance teams far more efficient and less prone to human error. Payments can be scheduled in advance-Telleroo users no longer need to set aside specific days and times for payment input-and access to Faster Payments means that there is no “cut off” to ensure a payment reaches its destination in time.

The integration means that Telleroo’s accountancy firm customers effectively have direct and standardised access to payment rails, without the need to navigate proprietary systems and alter existing workflows and processes. This is expected to boost the scale and velocity of Telleroo’s payment volumes.

“Gaining access to banking systems can be a nightmare in terms of technical integration and the reams of paperwork. We felt it shouldn’t be this hard to get access to the banking systems that can make a real difference to accountancy firms and the SMEs they serve,” said Michael Riedler, MD and Co-Founder, Telleroo. “Bankbox means we have direct access to these systems and can enable payroll and supplier payments simple for our accountancy customers-they will save hours previously wasted on manual input.”

“Telleroo is a fantastic example of an innovative company breaking away from legacy technology and systems to solve a big annoying problem for customers,” said Suresh Vaghjiani, CEO of Tribe Payments. “The focus we’ve seen in fintech on the consumer user experience needs to be universally applied, and the manual rekeying of payments is a perfect example of where technology can vastly improve efficiency.”

 

Related News

SWIFT Announces a New Strategy for Instant, Frictionless Payments and Securities Processing

SWIFT announces that over the next two years and beyond it will fundamentally transform payments and securities processing, retooling cross-border... Read more »

EBANX and Amazon Announce Partnership in Colombia During the Latin America Summit

EBANX and Amazon announced a partnership in Colombia this Thursday, September 17, 2020, at the chapter one of the... Read more »

Openpay Makes Marquee Signing with Fulham Football Club

Openpay, the UK’s latest next-generation, interest-free payment solution, has announced Fulham Football Club as the latest addition to its... Read more »

MeaWallet Introduces New SoftPos Solution MeaPay to Enable Contactless Payments

Accepting contactless payment can be a headache for any small business, store, or independent worker who must buy or lease expensive and cumbersome payment hardware. MeaPay... Read more »

Number of Month-on-Month Mobile Money Transactions Increase in Somalia Despite COVID-19 Pandemic

Somalia’s largest private employer and leading telecommunications operator, Hormuud Telecoms, has announced that the numberof month-on-month mobile money... Read more »

MYPINPAD Partners with EVO Payments for VISA Tap to Phone Technology

MYPINPADthe global leader in secure personal authentication... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel