Soldo Integrates With Starling Bank API for Faster Payments in the UK
February 20, 2024
By: Payment Week
London, 20th February, 2018 - Soldo, the London-based FinTech solving the challenge of automating, delegating and controlling company spending, has today announced an integration with Starling Bank, the digital-only challenger bank. The move brings significant advantages to business users who will be able to automate sending company money and receiving payments. A result that could save businesses significant revenue by enabling them to invest more time in productive activities and less time managing invoices.
Soldo enables companies to delegate, control and track company and employee expenses in real-time. The platform integrates with major business account software and provides business spending accounts, customisable prepaid cards, an Admin Dashboard and an app on iOS or Android. As a result, Soldo allows users to control all aspects of company spending, add specific transaction information and photos of receipts.
The integration with Starling Bank means that Soldo now comes complete with its own sort code and account number creating another vital step forward in the automation of company funds.
The Starling integration also opens up exciting pathways for Soldo’s technology, with new development pipelines promising even greater automation and groundbreaking features that will offer real, measurable boosts to efficiency (and the bottom line) for companies all over the world.
Soldo is one of the first Fintech companies to integrate with Starling Bank for Faster Payments. The collaboration is a practical reflection of Mark Carney’s recent speech where he highlighted the need for an improved infrastructure to realise Fintech’s promise. This can enable more innovation in the banking space, and is an example of the arrival of the API economy in the traditional banking sector.
Carlo Gualandri Founder & CEO of Soldo said “Over the last four years, Soldo has invested to create a full-stack, regulated, scalable, and secure spending platform with control at its core. We remain determined to be at the cutting edge of the payments infrastructure and our integration with Starling Bank demonstrates the value of joining centres of excellence within the Fintech sector. Businesses using Soldo can now invest even more time making strategic decisions instead of wasting time on manual cash flow management.”
Julian Sawyer COO of Starling Bank, said “Soldo had already achieved an incredible feat by innovating the way in which businesses can efficiently manage their cash flow and with the integration of our payments technology they have raised their value proposition to another level. Starling Bank was the first challenger bank to join the UK’s Faster Payments Scheme (FPS) directly providing real-time access via APIs. We are delighted that Soldo has become one of our customers of Starling Payment Services.”
Designed from the ground up to work across multiple markets, languages, jurisdictions and currencies, Soldo has developed a cloud-based, full stack technology which is regulated by the FCA with an E-Money licence, managing compliance and risk. Currently operational in the UK Italy, and other countries in the European Economic Area (EEA).
About Soldo
Founded in 2014 by tech veteran Carlo Gualandri, Soldo is a fast growing London-based financial technology (fintech) company tackling the problem of spend management for businesses. It is the only business account of its kind in Europe that gives companies a single prepaid spending account alongside multiple mastercard cards for any person or department handling money on behalf of the business. In 2017 the company raised £11 million in Series A funding from notable venture capital firm Accel to accelerate its growth and has trebled its workforce in the last 6 months. Giving secure financial autonomy to everyone within the business, Soldo is bringing its extremely powerful technology, intuitive dashboard and user friendly app to companies of all sizes. Allowing the spending account owner to map and enable a network of spending card users, Soldo gives business owners and finance teams full control over how each card within the business is used, as well as offering maximum transparency with notifications that can be sent to alert when the cards are being used.
About Starling Bank
Starling Bank Limited was founded in 2014 and granted its licence in July 2016 by the UK’s Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Starling Bank is a mobile only bank offering current accounts within the UK. Starling Payment Services is a division within Starling Bank, focused on providing payment solutions to organisations. Starling Bank offers connectivity to all the main payment schemes within the UK & Europe, which include Faster Payments, BACS, SEPA and MasterCard.