Ecospend: Initiates £2.4bn worth of Open Banking transactions
- Ecospend is a financial data and payments platform built exclusively for Open Finance since the inception of PSD2
- Company confirm initiated £2.4bn worth of open banking transactions through its ‘pay by bank’ services across its client portfolio
- Open banking technology allows customers to bypass manual data input when carrying out online payments
- As a result, customers can make instant payments directly from their bank account
- It has been enlisted to implement ‘pay by bank’ payments across a number of high profile businesses
- It also has partnerships with London Mutual Credit Union, as well as well-known utilities and eCommerce platforms
