The Canny Co partners with BankBuddy for its CannyPay solution
Financial Technology platforms BankBuddy.ai and Canny form strategic partnership to offer fully Digital Request/Invoice to Pay with embedded payments.
- (1888PressRelease) July 29, 2021 - FinTech platforms Canny and BankBuddy have partnered to launch CannyPay, innovative e-invoicing and payments solution for SMEs and Gig economy workers to automate the invoice to pay & Request to Pay cycle for cross-border payments.
As per the Mastercard report, the number of freelancers is expected to grow to approximately 915M by 2023. This work paradigm is fuelling innovation to efficiently manage the invoice to cash cycle.
CannyPay combines the ease of digital invoicing, tracking and payments marketplace to bring together the ecosystem players on a single platform to conduct secure transactions. CannyPay users can create and send multi-currency invoices to their customers across continents digitally with embedded payment details to enable them to pay faster by selecting the best payment option from the marketplace partners.
CannyPay is Powered by BankBuddy.ai, a leading Composite AI SaaS platform offering Digital Sales, Digital Onboarding, Transactions, and Digital Customer engagement to a number of Banks and FinTech organizations globally.
BankBuddy enables seamless onboarding of customers with embedded AI-based KYC for Individuals and Corporates, authentication, secure messaging, and frictionless transaction processing across mobile, web, and social media channels like WhatsApp.
The partnership with BankBuddy has enabled Canny to rapidly extend its global payments marketplace, with innovative offerings like Invoice to Pay and Request to Pay.
Using CannyPay the customers will save 30-40% of time and effort by shortening the cash conversion cycle with electronic invoice presentment, tracking of receivables & payment, and preventing errors and associated delays. While making payments, the business will have one single dashboard of all their AR and AP data for efficient cash management, with the option to choose their preferred payment/FX provider and funding account via open banking or their Payment service provider (PSP).
“Our strategic partnership with BankBuddy.ai enabled us to create Invoice to Pay and Request to Pay offerings alongside global payments marketplace. BankBuddy’s pre-built customer journeys, open banking support, and knowledge of payment systems across continents will help us to extend our offering in multiple geographies” said Aaditya Rathod, Co-Founder of The Canny Co.
“FinTech partnerships like Canny + BankBuddy are innovation catalysts, creating disruptive offerings at warp speed to address the challenges faced by specific segments like SME and Gig workers. Said Aditya Bhagat, Co-founder & CEO of BankBuddy.ai “We look forward to working with Canny and helping them and their customers grow”.
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