According to recent research, poor spend management costs European businesses a combined total of €301 billion every year due to a lack of spending control. What’s more, senior finance staff are currently spending more than half (51%) of their time on administrative tasks that could be digitised, and in some cases up to 30 days a year processing expenses.
How we are working together
Together, Soldo and Yapily are making it easier for businesses to maintain visibility over their business payments and stay in control of their spending with open banking.
Leveraging Yapily Payments, Soldo customers can top up their Soldo account directly from their business bank account. The customer receives the funds into their account instantly, streamlining the account funding process, and making it easier and quicker to get funds into Soldo. Businesses also benefit from a frictionless user experience as there is no need to leave Soldo’s application when making the top-up transfer.
Yapily has enabled Soldo to process over £6 million in open banking payments, helping thousands of businesses from SMEs to large businesses across the UK, Ireland, Italy, Germany, Netherlands, France, and Spain.
The partnership will see an exciting roadmap of open banking solutions added as Yapily continues to expand its product suite and geographic footprint across Europe.
Carlo Gualandri, Founder and CEO, Soldo, commented:
“Our customers are at the heart of our business, and we are constantly striving for ways to make their lives easier. With Yapily and open banking, we are helping our customers to take back control of their finances. We are particularly excited because the partnership will allow us to continue evolving as we look to embed more of Yapily’s open banking solutions into our offering.”
Stefano Vaccino, Founder and CEO, Yapily, commented:
“We’re delighted to be partnering with Soldo. This is another brilliant example of how open banking is improving the lives of business owners and their employees. It’s always exciting to see two innovative fintechs coming together to bring the benefits of open banking payments to businesses across Europe. I’m personally looking forward to continuing to work with the team at Soldo to deliver a more compelling payment experience to their growing customer base.”
Who is Soldo?
Soldo is the European pay and spend automation platform that combines smart company cards, issued by Mastercard®, with comprehensive management software. More than 30,000 companies, from small businesses to multi-national corporations in more than 31 countries, use Soldo to track and control spending. Headquartered in the UK, with additional offices in Dublin, Milan, and Rome, Soldo empowers customers including Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running to spend company money on travel and entertainment, advertising, purchases, software subscriptions, e-commerce, and more. Financial decision-makers can control every cost with custom budgets and real-time tracking of transactions.