What is Moorwand's Digital Banking platform?

Moorwand Digital Banking delivers the ability to make and receive payments using Moorwand’s digital payments platform.

 

The service is integrated via API to make Faster Payments, SEPA instant, SEPA payments, to create account numbers, IBANs and to make real time payments.

 

Our platform provides a rule based monitoring system, account based verification and also offers an automated KYC service.

 

Moorwand’s Digital Banking platform is for businesses who need their own payment capabilities (B2B), and for businesses who want to provide payments capabilities to their end users, corporate and consumer.

Key Features

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IBANs

We provide instant issuance of IBANs within UK, Switzerland and all EEA countries in GBP and EUR. You can have Dedicated IBANs for Consumer and Business accounts across the Moorwand licensed area.

APIs

Moorwand clients can seamlessly integrate with our Digital Banking platform via APIs. We will provide access to Moorwand's API library which covers all system capabilities.

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Speed of payments

We provide instant movement of funds through Faster Payments and SEPA Instant networks. Execute your transfers within less than 10 seconds!

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Access

We provide access to a variety of payment solutions, including Faster Payments, BACs, Direct Debits and SEPA Transfers.

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Expertise

We understand payments legislation and regulation to ensure you have the best possible compliant solutions

SCA Compliance

Secured data with 2FA in compliance with Strong Customer Authentication (SCA)

We provide a fast and smooth client on-boarding journey

Whether you are a savvy payment solution provider that simply wants an API to plug into the Moorwand gateway or you just want digital banking solution, Moorwand has the solution for you.

Digital Banking FAQs

  • Why should you work with Moorwand?

    • With Moorwand, you get experienced payment experts trusted by some leading FinTech brands, including StoCard and TradeCore. We're connected with a variety of processors, card manufacturers and schemes in the ecosystem. Our team of payment professionals always take the time to clarify the best options available for every client we work with. We put the power in your hands to bring your vision to life.

  • Who can use Moorwand Digital Banking Platform?

    • Moorwand assess each business based on certain requirements, however we are always keen to hear from businesses to see how we can personalize the experience for you

  • What payment services does the Moorwand digital banking solution offer?

    • Digital Banking provides you with a single compliant connection to a variety of payment solutions, including Faster Payments, BACs, Direct Debits and SEPA Transfers. Whether you are a savvy payment solution provider that simply wants an API to plug into the Moorwand solutions or if you just want a ready made digital banking solution to plug and play, Moorwand has the solution for you.

  • Do you offer a sandbox environment?

    • Yes, If you are planning an API integration with our platform, Moorwand will provide you with access to testing “Sandbox” environment. The Moorwand SandBox allows clients to visualise moving virtual money, issuing test IBANs, simulating load & withdrawal payments. Moorwand sales team will share access to a sandbox environment with assistance from our Technical team.

  • How does the API integration work?

    • API is a way for two different systems to communicate to each other. One platform sends an API call (request) to another including the instruction to perform an action. Based on instructions and details in the API call, the second platform performs requested action and sends the reply back, or rejects to perform the requested action. Moorwand platform releases the API keys that you will see in your account. You will be able to see these API keys when sending each API request to Moorwand platform.

  • Can I also open a Business account tied to the Moorwand digital Banking platform?

    • In addition to your desired set-up for Digital Banking programme you can also request a Business Account to manage your company business expenses.

  • How long does the Digital Banking set-up take?

    • It depends on the complexity of your project. Once the Onboarding process is finalized, the accounts set-up process and API integration takes several weeks.

  • Which countries can you Issue IBANs to?

    • UK, Switzerland, EEA and SEPA

  • Can I provide IBANS for consumer and Business accounts?

    • Yes, depending on the desired programme set-up Moorwand will work with you to define the needs

  • Can I recall payments through MW DB platform?

    • Yes. Please note that generally the conditions for recall depend on the Network where the transfer has been occurred.

  • Does it matter if I am a regulated or non regulated business? How would this affect how I work with your Digital Banking platform?

    • No matter if you a regulated or a non-regulated business entity you can integrate with MW Digital Banking platform and get your accounts in GBP and EUR.

  • Can I link my Card programme to Moorwand IBANs?

    • Yes, you can! If you are an existing Card Programme Manager and would like to add Digital Banking to your Card programme please get in touch via the form below and we can provide more details.

  • What is Faster Payments?

    • It is a UK Banking initiative (officially launched 27 May 2008) to reduce payment times between different banks' customer accounts from the three working days to typically a few seconds. Faster Payments is focused on small value transactions in GBP (up to 250 000 GBP) within UK and is available 24/7, 365 days. To check whether the account you’re sending money to can receive Faster Payments, use the sort code checker

  • What is a SEPA transfer?

    • SEPA (or the Single Euro Payments Area) is the new format for cross-border euro (EUR) bank transfers. SEPA aims to make cross-border EUR transfers within this area equivalent to a domestic transfer within your own country. SEPA is made up of the Eurozone, countries within the EU and a few other countries which also support EUR bank transfers.

  • What is CHAPS? Is it only available in UK?

    • CHAPS is a sterling same-day system that is used to settle high-value wholesale payments as well as time-critical, lower-value payments like buying or paying a deposit on a property. One of the key characteristics of CHAPS bank transfers is the fact that it is only used for sterling transactions within the United Kingdom. So, if you want to send a large sum of money from the US to the UK, from the UK to the US, or somewhere else entirely, you won't be able to use CHAPS. Currently Moorwand provides CHAPS IN - Overseas GBP

  • What is BACS?

    • BACS is the Bankers’ Automated Clearing System. BACS facilitates two bank-to-bank payment methods – Direct Debit and Direct Credit. Bacs Payment Schemes Limited, part of the UK retail payments authority Pay.UK, oversees the schemes which clear and settle these two payment methods. Whilst a Direct Debit takes money out of a consumer’s banks account – such as a bill, a Direct Credit transfers money in – such as a salary. The payments take 3 working days to clear.

How to get started

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