Barclays becomes first UK bank to offer corporate clients an additional channel to support the complexities of global, regional and domestic payment and cash management.
Barclays has launched a first of its kind cloud-based contingency payments service banking access channel in order to boost its commitment to corporate clients.
Contingency payments
This new service will allow Barclays corporate customers to gain access to an additional channel for managing payments should they be unable to access their primary channel. This can happen for a number of reasons including the primary user being unavailable, if a security token is lost or damaged, or when the client experiences an internet outage.
Under the new service clients will also be able to initiate payments via a laptop separate to their primary infrastructure via the new Contingency Payment Access solution.
This new service is intended to act as part of clients’ contingency plans, and will be available continually alongside their primary corporate banking channels. With no UK bank having attempted to overcome the issues presented by contingency planning, beyond offering a Fax service, it comes as no surprise that Barclays is at the forefront, when it comes to offering this service.
Offering seamless service
Speaking about this new corporate banking service, Michael Mueller, Head of Cash Management at Barclays Corporate banking said: “Our clients want to have certainty that they will be able to manage cash and make payments whenever and wherever they need to, and we are constantly looking to design new innovative services around their needs. Through this new partnership with AccessPay, Barclays can uniquely offer a new seamless service to clients which is even more convenient, flexible and resilient.”
Commenting on the rollout of this new service, Ali Moiyed, founder of AccessPay, the company behind the cloud-based payment automation and business intelligence solution, added: “Having worked closely with Barclays, we are delighted to be offering this state of the art, highly secure and highly resilient solution as an additional connectivity channel for their corporate banking clients.”
AccessPay, a provider of payment automation and business intelligence, already work in partnership with Barclays, providing corporate connectivity proposition via the SWIFT network for corporate customers.