The deal enables Caxton to issue IBANs unique to each of its consumer and corporate clients. This will reduce time spent on payment reconciliations, remove the possibility of human error, and speed up payment processing time. The capability, integrated into Caxton’s platform, is part of OpenPayd’s embedded finance infrastructure for payments businesses, offering plug-and-play banking products and services through a single API.
Caxton company officials said that as they continue to grow, they’ve chosen to partner with OpenPayd to overhaul their operations. OpenPayd’s API-driven infrastructure will help their teams continue to automate processes, delivering improved operational efficiency and services for their customers.
Embedded Accounts are elements of embedded finance infrastructure. They support operational processes which enable embedded finance use cases. Embedded IBANs gives Caxton the infrastructure they need to deliver finance operations and customer experience. OpenPayd stated it will support the growth ambitions of its partner.