myTU has released Payouts API, designed to help businesses optimise their financial processes and enhance operational efficiency. By implementing the new solution, companies can increase profitable revenues through automated, real-time payment processing and loan management, while reducing operational costs and manual errors.

myTU has developed a set of APIs that allow businesses to create customised integrations aligned with their specific operational requirements. These offer a range of features, including the ability to create and sign payment orders directly within clients’ management systems, eliminating the need for manual intervention.

MyTU implements advanced security through custom multifactor authentication. This integrates multiple ECDSA keys with IP and DNS data verification, and utilises secure timestamps alongside bidirectional out-of-band communication, to ensure the highest standard of security and compliance.

In addition to streamlining payment processes, the Payouts API provides real-time payment status updates and callbacks. This enables businesses to automate various processes based on predefined rules. This feature is particularly beneficial for consumer lending providers. It allows them to offer instant loan payouts, send repayment reminders, calculate fines, and escalate cases to bailiffs, all without manual intervention.

Payouts API forecast to drive substantial growth for myTU

The company projects a significant increase in its business client base in the coming months following the launch.

Raman Korneu, CEO and Co-Founder of myTU, said: “The launch of our Payouts API represents a significant leap forward for myTU and our clients. By combining our deep understanding of the banking industry with our technical expertise, we have created a solution that addresses the pain points faced by businesses, enabling them to operate more efficiently and effectively in an increasingly competitive landscape. We are confident that this product will be a catalyst for growth and success for businesses worldwide.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.