Corporate-to-bank integration provider AccessPay has joined forces with Sage to improve and optimise reconciliation processes.

Through the partnership, AccessPay has become a Sage recommended solution to allow clients globally to increase the frequency and accuracy of their reconciliation processes and reduce error-based risks.

The engagement between the parties will also allow the retrieval of automated bank statements, helping to reduce repeatable, manual reconciliation processes. It will also free up time and mitigate error-based risks.

Besides, the integration will enable Sage’s customers to utilqise AccessPay’s multi-bank connectivity.

Sage fintech, payments and banking global commercial head Chip Mahan said: “The partnership with AccessPay gives our customers access to reliable and secure bank connectivity at a global level and across multiple Sage products.

“It will help them streamline time-consuming manual processes and instead focus on growing their businesses. We look forward to working with AccessPay to enhance our customers’ experience further.”

Sage customers who subscribe to AccessPay’s services can get comprehensive and detailed statement data from a wide range of banks, which is formatted automatically and delivered via a single, secure connection.

This is made possible by AccessPay’s connectivity through the SWIFT network to more than 11,000 banks across the globe.

According to AccessPay, the delivery of bank statement data directly into Sage improves the accuracy and efficiency of the reconciliation process.

AccessPay strategic alliances director Graham Morgan said: “At AccessPay we are incredibly proud of our Automated Bank Statement Retrieval solution – a simple yet powerful, user-friendly answer to one of the most challenging issues facing accountants globally.

“We are also thrilled to be working closely together with a market leader and are ready to add further value to Sage’s innovative solutions and vast user base.”

Last year, Sage partnered with payments technology provider Square to streamline cashless transactions for small and mid-sized businesses (SMBs).