This recognition holds a special place in our hearts, as it highlights our unwavering commitment to leveraging technology to improve the world. Join us as we take you on the journey that led to this milestone and the driving force behind our mission.
From the outset of the open banking movement, our primary mission has been to transform the financial landscape into one that is more inclusive and accessible for everyone. Yet, our belief in the potential of technology to drive positive change goes beyond just reshaping financial services. The events that unfolded globally in 2022, particularly Russia’s invasion of Ukraine, prompted us to see how we could use our technology to help.
A Mission with Heart
In March 2022, in collaboration with our esteemed partners, Volt.io and Token.io, we unveiled the #StandWithUkraine donation page. This marked a pivotal moment for us, as we mobilised the power of payments as a tool to effect real change. The goal was simple yet had potential for huge impact: to utilise open banking to facilitate fee-free payments directly to charities and institutions supporting Ukraine.
A core feature that sets our initiative apart is our utilisation of open banking technology. Unlike traditional payment methods that often attract substantial fees, open banking allows for seamless fund transfers from one bank account to another. This ensures that every penny of a donation reaches its intended destination. Through our initiative, 100% of the donations found their way to reputable organisations such as Unicef, the National Bank of Ukraine, and the Polish Center for International Aid.
A True PayTech for Good Story
What makes this initiative truly stand out is that it goes beyond simply contributing to charitable causes. It represents a shift in the way technology companies engage with societal challenges. Our initiative embodies our vision, leadership, and the spirit of collaboration that goes beyond traditional Corporate Social Responsibility (CSR).
Together with Volt and Token, we embarked on a journey to provide support where it mattered most. Over the span of a year, we collectively raised an astounding £15,485 through our open banking-powered donation platform. These funds have played an instrumental role in supporting organisations actively addressing the humanitarian crisis resulting from the conflict in Ukraine.
Achieving Meaningful Impact
Through this initiative, Unicef has been able to reach and support over 5 million children and families, providing essential healthcare and clean water. The National Bank of Ukraine has directed resources towards the country’s defence efforts, while the Polish Center for International Aid focuses on refugee employment, evacuation support, and education for Ukrainian children.
To us, the numbers are more than mere statistics; they signify lives touched and positive change set into motion. In total, we facilitated 259 payments with an average value of £60. These aren’t just transactions; they are contributions towards a brighter future for those in dire need.
Our initiative is a testament to the values of collaboration, generosity, and an unwavering commitment to making a difference. We hope that our story inspires others in the fintech landscape to think creatively, collaborate passionately, and leverage technology for the greater good. Together, we can collectively contribute to a more compassionate and equitable world.
We extend our sincere gratitude to everyone who has supported our initiative, our partners Volt.io and Token.io for their dedication, and the entire Yapily team for their boundless passion. Let’s continue to push the boundaries of what technology can achieve and work towards a future where innovation and compassion go hand in hand.
If you are interested to learn more how open banking could help your company reduce transaction fees and streamline instant payments, don’t hesitate to book a meeting with us here.