Hargreaves Lansdown selects Bottomline to future-proof payments

Rhea-AI Summary

Bottomline (NASDAQ:EPAY) announced that Hargreaves Lansdown, the UK's leading investment platform, has chosen Bottomline PTX to enhance its 'cloud-first' payments strategy. This decision aligns with Hargreaves Lansdown's digital transformation efforts and aims to provide a fully integrated, regulation-compliant platform. The PTX solution will facilitate secure fund management for clients, further enabling Hargreaves Lansdown to evolve with emerging payment initiatives, including Open Banking. The CTO emphasized the importance of a trusted payment provider in this transformation.

Positive

• Hargreaves Lansdown selected Bottomline PTX, enhancing its cloud-first payments strategy.
• The PTX platform is integrated and regulation-compliant, supporting innovative payment solutions.
• The partnership allows for future evolution alongside emerging payment trends like Open Banking.

Negative

• None.

LONDON, March 14, 2022 (GLOBE NEWSWIRE) -- Bottomline (NASDAQ:EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced that UK-based Hargreaves Lansdown plc, the UK’s number one investment platform for private investors, has selected Bottomline PTX to support its ‘cloud-first’ payments strategy.

Hargreaves Lansdown’s decision to move to a cloud-based business payments platform aligns with its digital transformation strategy. Its selection of PTX reflects Bottomline’s ability to provide a fully integrated, regulation-compliant platform complete with innovative functionality around new payments initiatives, such as Open Banking. Hargreaves Lansdown will use PTX to receive funds from its clients and distribute funds to them.

“As the UK’s number one investment platform for private investors, Bottomline’s payment system is an important part of our investment into our digital backbone, which gives us access to infinite scale by harnessing the power of the cloud,” comments David Espley, Chief Technology Officer, Hargreaves Lansdown.

“Creating delight means that Bottomline connects its customers with their customers smartly, simply and securely across the life of payments and cash,” said Paul Fannon, Managing Director of Global Business Solutions at Bottomline. “We deliver that by innovating our payments solutions to include functionality such as Open Banking, Confirmation of Payee (CoP) fraud prevention measures, Request to Pay, and Enhanced Data, making the exchange of money easy.”

David Espley concludes, “It was important for us to choose a safe, secure, and trusted payment provider, and following a full RFP, we took the decision to continue our relationship with Bottomline and migrate to their new PTX solution. The Bottomline solution also gives us the option to continue to develop our offering in future, as we see things like Open Banking develop.”

About Bottomline:
Bottomline (NASDAQ: EPAY) makes complex business payments simple, smart, and secure. Corporations and banks rely on Bottomline for domestic and international payments, efficient cash management, automated workflows for payment processing and bill review, and state of the art fraud detection, behavioral analytics and regulatory compliance solutions. Thousands of corporations around the world benefit from Bottomline solutions. Headquartered in Portsmouth, NH, Bottomline delights customers through offices across the US, Europe, and Asia-Pacific. For more information visit www.bottomline.com.

About Hargreaves Lansdown:
Hargreaves Lansdown is the UK’s number one platform for private investors, looking after £141.2 billion of savings and investments on behalf of 1.7 million clients (as at 31 December 2021). With over 40 years’ experience in empowering people to save and invest with confidence and helping them build their financial resilience over the long-term, we provide a lifelong, secure home for people’s savings and investments that offers great value and an incredible service making their financial life easy. For more information visit www.hl.co.uk.

Media Contacts:
John Stevens
Bottomline
pr@bottomline.com
001 (978) 914-0735

Jacqueline Powell
Bottomline
pr@bottomline.com
0044 789 4256448

Alex Lambert
Hargreaves Lansdown
hlpress@hl.co.uk
07989 130774

FAQ

What is the significance of Hargreaves Lansdown choosing Bottomline PTX for its payments strategy?

The selection of Bottomline PTX strengthens Hargreaves Lansdown's cloud-first payments strategy, enabling secure and integrated fund management.

How does the PTX solution support Hargreaves Lansdown's digital transformation?

PTX provides a regulation-compliant platform with innovative functionalities that align with Hargreaves Lansdown's digital goals.

What financial technology does Bottomline provide?

Bottomline offers solutions for efficient payment processing, cash management, fraud detection, and regulatory compliance.

What companies are involved in the partnership announced on March 14, 2022?

The partnership involves Bottomline and Hargreaves Lansdown, focused on enhancing Hargreaves' payment systems.