Floats are a fundamental part of the Tillo system and making payments to us is something that every single one of our Partners has to do. Being such a well used function has meant that it has always been one that we have wanted to improve.

Looking back to how we used to operate, where Partners had to fund floats for each brand relationship separately, feels like looking back to Victorian times. Introducing the universal float was very popular at the time and felt like a massive leap forward.

Well, now it is time for a new leap, one which surpasses those previous improvements!

Introducing Automated payments

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Our Finance Team processes thousands of payments a month from and do a phenomenal job of keeping our Partners’ floats topped up to ensure that there is no interruption of service. However, this is a manual process and as we quickly scale it is not something that we can keep doing.

So we have transitioned to a vastly different and improved banking system and integrated our platform deeply into it. This now gives us access to a whole host of really useful features but primarily it enables us to automate the receipt and approval of Partner payments.

But what does this mean for our customers?

In a nutshell, we can now approve funds as soon as they clear in our account. It does not matter what hour of the day or what day of the week.

The two main impacts of this:

  1. Faster approvals. No longer reliant on manual processes payments can be approved much faster.
  2. Out of hours approvals. If payments reach us out of business hours, on a weekend or public holiday the system can approve them with no human involvement. This is a massive change as even though our finance team have often gone the extra mile to help out of hours, this is always possible.

Where next?

We are starting out on our GBP and Euro Universal floats but we will be expanding this out further as soon as we can. However, with this technology, the possibilities are vast so keep an eye out for future updates!