September - November
2022
Autumn - Winter Edition
Open Banking

Open Banking

Safer payments that eliminate the risk of fraud

By Tim Hassell

With the risk of fraudsters intercepting bank details running higher than ever for all of us, many of you may have noticed the changes that we are making to our payment services to support you.

Gone are the days of filling in pre-tenancy forms and providing debit card details or trying to send a last-minute transfer for your inventory or cleaning.  Wherever possible we are eliminating the need to send or receive bank details to reduce the risk of any disruption to our services.

Behind the scenes, your new tenants are also now able to pay their moving in monies direct from their nominated UK account to our client account securely, in seconds.

For any Draker invoice, you can also now simply click on the link on each invoice or scan the QR code with your mobile to be taken to your nominated UK bank.  Follow the simple instructions and within three clicks, you can pay for any works or fee invoices instantly.

How does it work?

We have partnered with a company called Ecospend, who provide the invoice payment and fee collection services for parts of the Government and many large UK based corporations.

Using their technology, we create a secure API link that is embedded in every invoice that allows you to click (or scan the QR code) and be taken to an Ecospend platform, who will then provide you with a list of UK banks to choose from to make your payment.

Simply then select your bank and you will be taken to the log-in page and within just a couple more clicks, payment is made instantly and securely.

Referencing UK tenants more efficiently

We are also using this technology to enable your prospective tenants to share live UK banking information with us digitally within minutes.

As a part of our improved digital referencing process, we send an email to your tenant with a link that takes them to the same banking menu.  After selecting their bank and logging in, they simply need to accept our data request upon which we receive a branded PDF report of their last 3 months banking history including regular income, expenditure and balance amounts.

Because the API link is direct to the tenants' bank, the reports are accurate and tamper proof, creating consistency and eliminating the need to over scrutinise the origin of a tenant's bank statement.


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