Barclays has announced that it will offer corporate clients a cloud-based contingency channel that will enabled customers to still make payments when there is an online outage or other problems at client sites. The move comes as IT infrastructure is increasingly stressed and historically any outages have resulted in clients being forced to use obsolete technology like the fax machine if their online access was disabled.
Commenting on the move, Michael Mueller, managing director, 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.”
With IT systems always at risk, creating a contingency payment and online banking access channel is a smart move by Barclays and could serve as a significant value add to existing corporate customers and a great driver of customer acquisition for new clients.
Overview by Tristan Hugo-Webb, Associate Director, Global Payments Advisory Service at Mercator Advisory Group
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