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NXTSOFT AND YAPILY FORM PARTNERSHIP TO DELIVER GLOBAL ACCESS TO OPEN BANKING

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NXTsoft (nxtsoft.com), the market leader in comprehensive, secure API connectivity for fintechs and financial institutions in the United Sates and London, UK-based Yapily (yapily.com), the leading European-based open banking infrastructure provider, today announced a partnership between the two companies that will enable each to expand its API reach and expertise to the other’s respective geographic area. This means NXTsoft’s API partners will now have the ability to connect with European financial institutions and Yapily’s European partners will have established API connectivity access to U.S-based financial institutions.

NXTsoft and Yapily are both industry leaders on the open banking forefront due to their expertise in API connectivity, and a partnership between the two significantly expands the connectivity potential for their fintech partners who want to integrate their services with financial institutions.

The open API solutions that NXTsoft and Yapily offer help to level the playing field between community banks and larger financial institutions. These APIs enable community financial institutions to quickly scale functionality to offer the myriad of digital services that consumers now demand. As such, this gives all consumers more choices of how and where they bank.

Because of the API technology developed by NXTsoft and Yapily, financial institutions are no longer at the mercy of their core providers, waiting potentially years before the connectivity is developed to a solution they want to utilize. Fintech companies are no longer burdened by core connectivity constraints. They can focus on development and enhancement of their flagship solutions and innovation instead of how to connect A to B.

“A NXTsoft and Yapily partnership is a homerun for NXTsoft as it significantly expands the financial market for which we can offer our partners entry,” said David Brasfield, CEO of NXTsoft. “We are excited to partner with a company like Yapily that understand the significance of open banking and the power of API connectivity” he said.

NXTsoft has been in the API marketspace for over 25 years and has over 1,000 financial institutions that currently utilize its secure open API solution OmniConnect to transmit data real-time between core systems and applications.

“As Yapily continues to grow and disrupt global financial infrastructure through our focus on open banking, a partnership with NXTsoft providing entry to the U.S. financial market is a huge step forward for us,” said Yapily CEO Stefano Vaccino. “Open banking infrastructure is fundamental to how data and payments move between organizations worldwide and Yapily and NXTsoft are poised to make that connectivity happen,” he said.

Yapily recently completed a second round of Series B funding totaling $51m and bringing its total investment to date to $69m.The company will use the funding to expand across Europe, extending open banking to cover 95% of the continent by the end of the year; and will continue to invest in its market-leading infrastructure to pave the way for open finance, creating financial inclusion for all.

Financial institutions have and enhanced ability to implement solutions that customers demand, consumers have more choices in how and where they bank and fintech providers can focus on the innovation and deployment of new solutions – in part due to the open API solutions and collaboration between NXTsoft and Yapily.

 

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NutreeLife triples production with finance from Siemens Financial Services

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Plant-based snack manufacturer NutreeLife has massively increased its production capacity with the help of a hire purchase solution from Siemens Financial Services (SFS).

Founded in 2017, NutreeLife is a rapidly growing company which produces vegan protein bars, snacks and other healthy vegan products. Following a significant increase in demand, the manufacturer wanted to invest in a new production line.

As Patrick Mroczak, MD and CEO at NutreeLife Ltd explains, “We were ready to invest in the next stage of business development. We needed new equipment to meet demand but we also wanted to preserve our cash flow to deal with the volatility of the pandemic.”

To protect the business’ working capital, SFS suggested a hire purchase arrangement. Under the agreement, NutreeLife could acquire the equipment immediately and with no upfront costs. Instead, SFS tailored the arrangement so that the company could spread the cost over 5 years in regular payments and at the end of the arrangement NutreeLife will automatically own the equipment outright.

Under the hire purchase solution, the manufacturer also met the conditions for the UK government’s super-deduction tax initiative, whereby a company investing in qualifying new plant and machinery assets is able to claim 130% of the equipment’s value in year one.

“As a relatively new business, it’s not always easy to gain access to the right finance at a good price but SFS were incredibly accommodating. They really understood the benefit of the technology for our business and helped us unlock the investment,” adds Mroczak.

With the new equipment and technology installed, NutreeLife has been able to triple its production and turnover, and expand operations in tow.

“Despite the ups and downs of the pandemic, the new production line has helped us to keep things moving. As demand rises we’ve been able to take on much more staff and use our working capital towards stockpiling raw materials when needed.”

And the business’ success has not gone unnoticed. NutreeLife was awarded Small Business of the Year at the 2021 Lancashire’s Be Inspired Business Awards (BIBAs).

“Working with SFS has truly opened up news avenues of business for us. The team is so fast and responsive and clearly dedicated to finding the best solution for our machinery needs,” comments Mroczak.

Kirsty Talmage-Rostron, Business Development Manager – UK South at Siemens Financial Services comments, “It’s always exciting to work with an innovative award-winning manufacturer like NutreeLife. Despite the challenges of COVID-19, we’ve been able to help the business rapidly develop and look forward to continuing to support this growth strategy as the business expands into new markets.”

 

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HYDR DEVELOPS INVOICE FINANCE PLATFORM TO INTEGRATE WITH MAJOR CLOUD ACCOUNTING SOFTWARE PROVIDERS

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MANCHESTER – UK – 17th January 2022 – Fintech start-up, Hydr has developed its proprietary invoice finance platform to integrate with more major cloud accounting software providers including Sage and QuickBooks.

After launching exclusively with Xero in May, the Hydr platform can now be accessed by millions more SMEs in the UK who want to leverage their unpaid invoices to optimise cash flow and help fuel their growth.

Users of Sage, FreeAgent, KashFlow, QuickBooks and Xero who sign up with Hydr can get paid almost immediately for the work they have completed and invoiced, rather than having to wait out long payment terms and even having to consider extending their borrowings to maintain working capital.

Customers who link their account to the Hydr platform can expect a class-leading, seamless integration. No duplication of data is needed, they simply continue to raise their invoices with their cloud accounting provider as normal and Hydr will do the rest, funding approved invoices within 24 hours.

Hydr co-founder, Nicola Weedall said, “We’re so pleased to have achieved this product milestone. The impact of long payment terms and late payments is affecting millions of small businesses in the UK; many are navigating CBILS repayments and ramping up post-Covid trading which can put a strain on working capital. We feel so strongly that getting paid early is the best way of optimising cash flow, far better than extending borrowings.”

Hydr co-founder, Hector Macandrew said, “Invoice finance in years gone by has often been complicated and time consuming to apply for, complex to manage and opaque in pricing. It is absolutely ripe for disruption and cloud accounting and open banking has made this reinvention achievable. With our simple, transparent and fairly priced proposition, it is now more accessible and attractive to small businesses than ever. We encourage more businesses to consider it.”

Hydr helps small businesses optimise their cash flow with fully digital onboarding that takes just 15 minutes. Hydr’s platform connects with a company’s data and financial information creating a seamless digital experience without the need for the company to submit any additional paperwork. Funding decisions are given in real time and Hydr pays 100% of the value of an invoice (rather than the traditional 70-90%) within 24 hours, minus a transparent, fairly priced fixed fee. Once quoted, the fee never, ever changes and includes credit insurance.

Hydr works with small businesses registered in England in Wales that sell products or services to other businesses (B2B).

 

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