Hargreaves Lansdown, a UK-based investment platform for private investors, has selected paytech Bottomline and its cloud-based PTX solution.

The investment firm will use PTX to receive funds from its clients and distribute funds to them.

David Espley, chief technology officer (CTO) at Hargreaves Lansdown, says the new payment system is “an important part of our investment into our digital backbone, which gives us access to infinite scale by harnessing the power of the cloud”.

He adds: “It was important for us to choose a safe, secure, and trusted payment provider, and following a full RFP [request for proposal], we took the decision to continue our relationship with Bottomline and migrate to its new PTX solution.”

Hargreaves Lansdown looks after £141.2 billion of savings and investments on behalf of 1.7 million clients. It’s been in business for over 40 years.

Bottomline is a long-standing technology provider, operating for 30+ years, supplying solutions for domestic and international payments to corporations and banks with functionality including cash management, automated workflows for payment processing and bill review, fraud detection, behavioural analytics, and regulatory compliance.

Headquartered in Portsmouth, New Hampshire, US, Bottomline operates through offices across the US, Europe, and Asia-Pacific. At the end of last year, it announced its acquisition by private equity firm Thoma Bravo in an all-cash deal worth $2.6 billion.

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• Source: https://www.fintechfutures.com/2022/03/investment-platform-hargreaves-lansdown-heads-to-the-cloud-with-bottomline-paytech/