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CONTIS LAUNCHES BUFFER ACCOUNT TO REVOLUTIONISE THE DELIVERY OF LOANS
CONTIS LAUNCHES BUFFER ACCOUNT TO REVOLUTIONISE THE DELIVERY OF LOANS
Published by Gbaf News
Posted on February 28, 2018
Global Banking and Finance Review
Company
Published by Gbaf News
Posted on February 28, 2018
Contis, a leading provider of end-to-end banking, payments and processing solutions in the UK and Europe, today launches its Buffer Account, an innovative new configuration of its award-winning platform that enables customer transactions to be authorised and settled from a secondary account when existing funds are insufficient.
The buffer account is set to reshape the provisioning of loans by giving clients the ability to offer approved credit facilities to settle a customer’s transactions when funds in their account are insufficient. For example, if an account holder wants to spend £200, but only has £100 in their account, Contis’ platform will seek funds from the third party provider in real-time to allow the transaction to occur.
The launch represents a direct challenge to areas of the payments ecosystem traditionally dominated by credit card providers. It can also be used to fund corporate expense cards, enhancing a business’ ability to control employee expenditure by setting a specific draw-down limit per card instead of pre-loading cards with available funds.
The introduction of the buffer account is the latest innovative development from Contis’ award-winning, legacy-free banking and payments platform, which processes payment card transactions in real-time on both UK and SEPA payments ‘rails’.
Commenting on the launch Flavia Alzetta, Chief Executive Officer, said: “I am delighted to announce the launch of the Contis buffer account. It is yet another innovative development that demonstrates the power of our end-to-end banking and payments processing platform.
“This new functionality has the potential to reshape the payments ecosystem whilst also delivering our customers a frictionless experience and the flexibility to manage their finances more effectively”
Contis, a leading provider of end-to-end banking, payments and processing solutions in the UK and Europe, today launches its Buffer Account, an innovative new configuration of its award-winning platform that enables customer transactions to be authorised and settled from a secondary account when existing funds are insufficient.
The buffer account is set to reshape the provisioning of loans by giving clients the ability to offer approved credit facilities to settle a customer’s transactions when funds in their account are insufficient. For example, if an account holder wants to spend £200, but only has £100 in their account, Contis’ platform will seek funds from the third party provider in real-time to allow the transaction to occur.
The launch represents a direct challenge to areas of the payments ecosystem traditionally dominated by credit card providers. It can also be used to fund corporate expense cards, enhancing a business’ ability to control employee expenditure by setting a specific draw-down limit per card instead of pre-loading cards with available funds.
The introduction of the buffer account is the latest innovative development from Contis’ award-winning, legacy-free banking and payments platform, which processes payment card transactions in real-time on both UK and SEPA payments ‘rails’.
Commenting on the launch Flavia Alzetta, Chief Executive Officer, said: “I am delighted to announce the launch of the Contis buffer account. It is yet another innovative development that demonstrates the power of our end-to-end banking and payments processing platform.
“This new functionality has the potential to reshape the payments ecosystem whilst also delivering our customers a frictionless experience and the flexibility to manage their finances more effectively”