It’s been another year to remember. Our message continues to hit home with major insurance companies and financial institutions, while independent industry recognition has come thick and fast. Customer wins, global expansion and great industry feedback have us excited about 2020.
Here are some highlights of the past 12 months:
Winning hearts and minds
At the heart of the Optal proposition is our ability to transform how your business thinks about B2B payments. This could be via our virtual account number (VAN) solution, which streamlines supplier payments, or our Invapay platform which enables businesses to maximise working capital by paying all their suppliers via commercial credit card.
It’s been great to see our footprint expand in 2019, with new business wins from tier one insurers, claims management companies, and online marketplaces who are all benefitting from the speed, certainty and lower costs offered by Optal VANs.
Supporting insurance innovation
We’re particularly delighted to see the Optal messages so well received by the insurance sector, which has much to gain from migrating supplier payments from legacy systems riven with cost and complexity. “Insurers are ready for Optal,” was the message we received loud and clear at events like the Motor Claims Networking Lunch, the Commercial Payments International (CPI) Europe Summit, BIBA 2019, the Insurance Innovators Summit 2019 and at the British Insurance Awards, where we sponsored the Technology Award.
Don’t just take our word for it: Optal’s continued growth was again recognised by the likes of: the Sunday Times HSBC International Track 200; the London Stock Exchange Group’s prestigious 1000 Companies to Inspire Britain report; the Sunday Times Hiscox Tech Track 100; and The Nilson Report, as one of the top credit card issuers in Europe by purchase volume. Leading the growth push in the region will be Jonathan Nixon, our new Regional Head of Business Development for Europe, who brings with him two decades of experience at the likes of Barclaycard, Deutsche Bank, Citibank, JP Morgan Europe and Visa.
Stretching our legs
As part of our ongoing efforts to deliver value for our global customers, Optal opened a new Dublin office this year, to help insulate these businesses from Brexit-related uncertainty. The base will serve to drive new growth opportunities across the Irish Sea and ensure we continue passporting our innovative services in Europe, whatever happens.
The year ahead
That’s a hard act to follow. But we’ve got the people and the technology to make it happen this coming year.
Our vision for 2020 is simple: to continue supporting business growth for our customers through optimised digital payments. VANs and Invapay offer so much to help reduce risk, minimise costs, enhance supplier relationships and drive growth. They help to support innovative new insurance models like parametric solutions, tackle emerging risks like APP fraud, optimise working capital by driving uptake of under-utilised commercial credit, and much more.
So stay tuned: this is the decade when digital B2B payments become the norm, with Optal leading from the front.