Flexible payment platform Payble delivers fastest accreditation readiness with CDR expert partners Adatree
Australia’s first accredited and active intermediary of the Consumer Data Right (CDR) Adatree, has demonstrated the superior capabilities of its SaaS technology solutions by helping flexible payment platform Payble accelerate its initial Accredited Data Recipient (ADR) journey to just four weeks, setting the record for the fastest data accreditation application in Australia.
In what can take up to a year due to the complexities of the technical, business policy and security readiness elements, Payble successfully completed its ADR application in just one month, by leveraging Adatree’s ADR Accelerator product for application document templates and the Adatree ‘Industry Sandbox’, which provides realistic simulations for companies to test their proof of concept ahead of going to market and provides them with the testing experience of being an ADR.
In doing so, Payble overtook Adatree’s previously held record for the fastest accreditation readiness, at 38 days. Payble is now one step closer to market launch far ahead of time and with significant cost savings.
Payble’s platform fixes missed and late payments before they happen by providing consumers with greater access to payment flexibility when they need it. Businesses (including councils, utilities, insurers and more) benefit from Payble too, with increased cash collection, lower transaction costs and better relationships with customers.
As an Accredited Data Recipient, Payble will verify whether funds are available in a customer’s account before their bills are due, and if funds aren’t available, proactively repair the payment by offering the customer a range of flexible payment options – all before the billing stress sets in.
Jill Berry (pictured), CEO and Co-Founder of Adatree, said that the use case is an exciting demonstration of Adatree’s ability to work with any business aspiring to access consumer data via the Consumer Data Right scheme, currently the banking sector, then energy sector to follow.
“Adatree is committed to helping companies in the CDR ecosystem access and leverage data to remove barriers to Open Banking participation. We’re thrilled to have helped Payble achieve its Data Recipient Accreditation application in just 25 calendar days and well under budget.
“Our Data Recipient technology solutions guarantee a faster and smoother experience for the testing conformance suite and allows organisations to focus on their customer value proposition, instead of compliance. Similarly, our ADR Accelerator helps aspiring data recipients achieve accreditation six months faster. We hope this unique ‘Open Banking in a Box’ offering can help minimise the challenges many organisations face in the ADR journey.”
Payble MD Elliott Donazzan, said, “It is a huge accomplishment for Payble and the CDR space to complete a Data Recipient Accreditation application in less than one month.
“We have spent significant time building the Payble platform, and the turnkey solution provided by Adatree and all other parties has allowed us to fast-track our journey ahead of launching Payble later this year, in addition to reducing costs in the build and audit fees.
“I’m thrilled with the outcome of this typically complex journey, which will allow us to help transform the relationships between merchants and their customers even sooner.”
In addition to the accreditation process, Adatree joined a network of partners to combine its expertise and offerings into a seamless solution that enabled the Payable ADR application and AWS Cloud CDR Infrastructure, both, to be built in under four weeks. This included AWS-specialist cloud infrastructure company DNX Solutions who built the compliance cloud environment for Payble; auditing firm AssuranceLab who conducted an ASAE3150 information assurance report; and leading cybersecurity firm Astero who ensured the Payble platform met all tightly regulated security controls and requirements.