Case Study: Caxton achieves faster, automated payment reconciliation with OpenPayd virtual IBANs

Caxton simplifies payments in under 2 weeks with Openpayd

Caxton, a leading UK fintech payments company, faced operational challenges due to its reliance on a single central account for payment processing. This required clients to manually add unique reference numbers, leading to errors, delays, and a significant burden on their operations team as the business grew. To support its expansion, Caxton partnered with Openpayd for its payment and banking infrastructure.

Openpayd implemented a solution using its virtual IBANs (vIBANs) and developer-friendly API, which was integrated in under two weeks. This provided Caxton with thousands of virtual accounts, enabling automatic payment routing and reconciliation, which eliminated manual errors and delays. The result was a vastly improved operational efficiency, allowing Caxton's team to focus on growth instead of correcting mistakes, and the solution was successfully rolled out to all clients after an initial launch to 10,000 customers.

Caxton