British bill payment company PayPoint has invested £1 million in Aperidata, a consumer and business credit reporting and open banking platform.
This partnership builds on their existing collaboration, which focuses on providing open banking-based income screening tools for a variety of sectors, including government, local authorities, charities, and housing associations.
Recently, the companies introduced a system for Citizen’s Advice Stevenage, which features an open banking-driven customer support tool. This innovation has significantly reduced the time Debt Advisors spend gathering and reviewing financial information from an average of three weeks per case to just minutes.
Nick Wiles, CEO of PayPoint, expressed enthusiasm about the investment, stating, “We’re delighted to be investing in Aperidata, which will further enhance our open banking solutions and multichannel payments platform for clients in multiple sectors. This investment will enable PayPoint to continue its diversification into digital services and drive further growth in open banking, which is essential for achieving our goal of £100 million in EBITDA by the end of FY26.”