Contis, a leading provider of end-to-end banking, payments and processing solutions in the UK and Europe, has today accelerated the revolution within business banking market with the launch of its innovative new service Freedom Business Solutions, providing disillusioned and underserved customers with improved access to Faster Payments (Freedom FP) and payroll (Freedom Payroll) functionality.
The proposition marks Contis’ commitment to reducing excessive payment processing fees whilst leveraging its market-leading proprietary technology to provide real-time payments and frictionless integration.
By delivering the service through its own end-to-end platform Contis is also able to offer its customers unrivalled reliability and security in contrast to many FinTech providers, whose proposition is reliant on consolidating the functionality of multiple suppliers across the banking and payments ecosystem.
Freedom FP provides businesses with a range of user-friendly channels to make Faster Payments in real-time, through simple API integration and a dedicated portal. Crucially, the service does not require customers to change their existing banking relationship enabling them to benefit from cheaper payment fees without disrupting access to any other financial products or functionality.
Freedom Payroll will allow companies to meet the complex financial needs of an increasingly global workforce in which migrating workers can find it difficult to obtain local bank accounts. It will allow businesses to provide their employees with personal current accounts complete with a contactless Visa debit card, direct debit functionality and customer support via the account portal and mobile app.
Commenting on the launch Flavia Alzetta, Chief Executive Officer, said:
“The payments ecosystem has for too long been dominated by a ‘one size fits all’ approach built on legacy systems that are no longer fit for purpose. The inability of businesses to access the right type of cost-effective financial products is a challenge that significantly hinders economic growth and one that we’re committed to solving.
“Businesses today need and want an easy to manage solution that is technically effective and accessible through a modern user friendly interface. We have built a platform capable of delivering a range of innovative solutions and are delighted to be able to launch Freedom Business Solutions and provide businesses with a payments proposition that fully meets their needs in a secure and reliable manner.”
Contis’ platform is PCI DSS Level 1 compliant, has market-beating levels of up-time and processes millions of transactions annually.