Apply Financial - Global bank payment validation for error-free payment processing

Apply Financial is the world leader in validating global bank payments. Since inception in 2010 we have grown to have around 700 global clients which include banks such as ABN, HSBC, Barclays, FNB, foreign exchange companies including Currencies Direct, World First, Caxton, AscendantFX, corporate clients which include Apple, GL Group, EasyJet.

As well as working with several technology partners such as BottomLine, Payonomy, Temenos. Apply Financial sits behind the payment process whether it is on mobile, desktop or browser and ensures that the person inputting a payment only enters the correct payment information. Validate gives our banking clients the ability to provide their clients with a seamless payment cleansing experience ensuring faster, error free payments. Validate can proactively keep Beneficiary details clean for Transfers, DD's, Payment Files and Mobile Payments saving them time and money.

How we solve the issue of failed bank payments

Apply Financial simplifies the payment process by checking, payments at payment entry allows our customers to digitally send global bank payments without any manual intervention so that the payment straight through processes and our customers no longer have to deal with failed and returned payments and the time, cost and hassle of sorting out the lengthy process of payment repair.

The two main reasons why a bank payment fails is either someone 'fat fingering' inputting the wrong information or using out of date bank information (data). Checking at payment entry that only accurate bank payment details are entered with the correct supporting information, such as payment purpose codes for certain countries, holidays do not affect payment date and several other key information points, allows the payment to reach its intended recipient on time.

A failed payment costs on average around £50 to repair which mounts up considerably but the real cost can be the bad relationship that is created when the intended recipient does not receive the money on time.

How we ensure Global Bank Payments are correct

Apply Financial's solutions, Validate and Validate Data Manager can be consumed as API's and online browsers. They are cloud based and are a combination of global payment reference data, algorithms and web service functions that deliver a complete solution. They reduce the time and cost of making digital bank payments, whilst improving the customer experience. This is achieved by guiding the customer to only input the correct payment details at payment entry, for the bank this means they know the payment will STP and reach the payment destination on time without any manual intervention saving time and money and for the business or individual making the payment, they know that the payment will not bounce, they will not receive bank charges, and the payment will reach its intended recipient on time.

Staying compliant with payment rules and bank changes

Validate's global payments reference data is updated on a daily basis. We only get our data and rules from official sources, so our customers no longer have the headache and the overhead of daily data gathering, payment rule updates and compliance when Validate maintains all these from official sources around the globe.

What our customers say

The Apply Financial management team are global payments solutions experts with over 80 years combined experience. Our aim is to provide the best payments validation solutions to both Financial Institutions and Corporates and to do this using the cloud and API's to remove the need for our clients to gather and maintain huge amounts of global reference data or maintain and update account structure rules for over 170 countries around the world, worry about compliance and deal with a significant percentage of failed payments and the associated costs. We are passionate about ensuring our customers have the best global payment validation solution that is simple and easy to deploy.

"Apply Financials' Validate API solution helps us give our clients a seamless payment experience and keeps payment errors to a minimum" - Rupert Lee-Browne, CEO, Caxton FX

"We saw the immediate benefit of Apply's Validate API and how easy it was to integrate into our digital platform. Franx provides clients with a superior, cost efficient experience when making FX and international payments. We selected this world class validation solution because it enables intelligent, integrated and seamless processes for businesses around FX and international payments. Validate API fits our business now and will scale with our business. Our clients will benefit from seamless transactions because we are using the Validate API. Apply Financial have been great to work with and have enabled us to go live with the Validate API painlessly and as part of a rapid roll out" - Hatim Chebti, CEO, Franx an ABN Company

"As a leading FinTech solutions provider, Bottomline shares the same goals as Apply when managing business-critical transactions:

  • Improving Straight Through Processing rates
  • Driving down costs by removing unnecessary human intervention
  • Minimising payment errors in general.

All of which contribute to a vastly improved customer service. In everything we do, we think long and hard about how we want to grow and who we want to partner with. We're always looking for new and creative ways to improve the product and service offerings we have. Our partnership with Apply Financial allows us to do just that." - Payments Product Manager, Bottomline Technologies.

Contact Details

Apply Financial
The Studio
67 Ormond Crescent
TW12 2TQ
United Kingdom
0333 0124618

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