Telleroo, a payments firm specialising in the accounting space, has chosen BIN (bank account identification number) sponsor Moorwand to improve its payments capabilities.

Telleroo will leverage the e-money and digital banking expertise of Moorwand to streamline payments in a compliant manner.

Moreover, Moorwand said that its sponsorship will enable Telleroo to manoeuvre regulations related to payments with ease.

Moorwand CEO Robert Courtneidge said: “It no longer makes sense for payment services to be limited to banks.

“Telleroo are solving a problem accountancy firms have faced for a long time—as consumers, we’re used to payments becoming ever easier, but payroll and supplier payments remain manual and laborious.”

At the same time, Moorwand’s access to banking and technology firms is said to enable Telleroo support multiple use cases and enable pay runs to be scheduled for later dates.

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Telleroo MD and co-founder Michael Riedler said: “This partnership means that we can offer a fully-compliant payment service, powered by Moorwand, without becoming a bank.

“The provision of banking and payment services involves a lot of red-tape and regulation which Moorwand’s expertise and sponsorship means we can easily navigate. We want our focus to be on giving our customers the best and most convenient user experience—working with Moorwand means we can do that.”