Tribe Payments, the PayTech startup, has unveiled the first client using its new API-led banking solution.
Having announced Bankbox at the tail end of 2019, Tribe Payments has now revealed that Telleroo, the employee and supplier payment portal, has become the first company to use the tool.
It said that after completing the technical integration in under a 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.
More precisely, Bankbox empowered Telleroo’s accountancy firm customers to make payroll and supplier payments directly from the payment files generated by accounting and payroll software providers like Xero or Paycircle.
“Gaining access to banking systems can be a nightmare in terms of technical integration and the reams of paperwork,” said Michael Riedler, managing and co-founder of Telleroo. “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. 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.”
Suresh Vaghjiani, CEO of Tribe Payments, added, “Telleroo is a fantastic example of an innovative company breaking away from legacy technology and systems to solve a big annoying problem for customers. 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.”
Telleroo picked Moorwand, the RegTech company, in December 2019 to help it streamline and simplify compliance.
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