Sep 29, 2026
Just one in ten businesses have highly automated banking and payment workflows in place.
London, England, United Kingdom, September 29, 2026 -- Despite years of investment in financial software and digital transformation, new research has revealed a significant automation gap within UK businesses, with just 10% reporting highly automated processes across most of their banking and payment workflows.
The research, which surveyed 418 senior leaders at UK organisations employing 10–500 people across sectors including accounting, ERP and financial management, FinTech and B2B SaaS, found that technology has yet to eliminate significant amounts of manual finance admin and workarounds.
Almost one in five (19%) still rely predominantly on manual processes to match bank transactions and payments against invoices, customers, cases or internal records, while 45% operate using a combination of manual and automated processes.
These findings have been published in a report titled ‘The Open Banking Data and Payments Automation Landscape’, produced as part of a UK research project commissioned by Finexer, an FCA-authorised open banking infrastructure platform built for mid-market B2B platforms.
Further findings revealed that almost a quarter of UK finance leaders (24%) said their organisation can lose 20-29 hours every month to manual bank and payment administration.
15% said that their business can spend up to 39 hours a month - more than one full working week - manually collecting bank information, checking whether payments have arrived, matching payments to internal records or re-entering banking and payment data.
Commenting on the findings, co-founder and CEO of Finexer, Ravi Ranjan, said, “Losing several days every month to checking payments, matching transactions and re-entering banking data shouldn’t be considered a normal cost of doing business. Yet these findings suggest manual finance admin remains embedded in UK organisations.
UK Businesses have invested in automating almost every part of their operations, and yet finance processes are still being held together by manual checks and workarounds. As businesses demand faster payments and real-time financial visibility, the infrastructure underneath their finance systems has to catch up.”
This research highlights the challenges facing UK businesses attempting to automate banking and payment workflows. Integrating banking data into existing finance systems can involve complex integrations, regulatory requirements and dealing with legacy infrastructure - this can leave finance teams reliant on manual processes to bridge gaps between systems.
Open Banking provides an alternative by enabling financial platforms to connect banking data and account-to-account payments directly into the systems businesses already use.
Ranjan concludes, “The problem isn’t that the technology doesn’t exist; it’s that too many businesses are still connecting modern finance systems through processes that rely on people to fill the gaps. As expectations move towards real-time financial visibility, those gaps become increasingly difficult to justify. Automating the movement and reconciliation of financial data gives finance teams that time back to focus on work that actually requires their expertise.”
About Finexer
Finexer is a UK Open Banking infrastructure provider authorised by the Financial Conduct Authority under the Payment Services Regulations 2017 (FRN 925695) as an Authorised Payment Institution. The company enables fintech and SaaS platforms to integrate verified financial data and account-to-account payments through a single API — covering payments (PIS), financial data access (AIS), and financial verification. Finexer covers 99% of UK banks, operates with usage-based pricing, offers white-label customisation, and provides dedicated onboarding support across a 3–5 week deployment period. Backed by SFC Capital and British Business Bank.
Contact Info:
Name: Rayaan Alam
Email: Send Email
Organization: Finexer
Address: 124 City Road, London, EC1V 2NX
Phone: +44-012-155-5855
Website: https://finexer.com
Release ID: 89204702
If there are any deficiencies, problems, or concerns regarding the information presented in this press release that require attention or if you need assistance with a press release takedown, we encourage you to notify us without delay at [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our diligent team is committed to promptly addressing your concerns within 8 hours and taking necessary actions to rectify any identified issues or facilitate the removal process. Providing accurate and trustworthy information is of utmost importance.
Cybersecurity researchers have discovered a malicious npm package that's part of a recently disclosed software supply chain attack campaign dubbed MALFEX. The package, named "imgdecode," was uploaded to the package registry on September 30, 2026, by a user named "malfexteste8." It has been downloaded 979 times as of writing and is still available on npm as of writing. The latest version of
Read moreWhy Mars looks blue in NASA’s unedited curiosity panorama?Stand beside Curiosity at dawn, and you wouldn't see a red planet or a blue one. You'd see murky light-tan cliffs and almost no colour in the shadows. That makes NASA's new blue Mars panorama a bit of a trick, though not the kind you...
Read moreThe global race to expand artificial intelligence (AI) capabilities could increasingly be determined by which companies can secure enough electricity, financing and data-centre infrastructure to operate advanced chips, rather than simply by their ability to acquire the latest technology, according to a Morgan Stanley research report.
Read moreFlipkart and Reliance Digital are offering discounts, bank benefits, and exchange deals on the iPhone 17 and iPhone 17 Pro. Here’s how the offers work, which conditions buyers must meet, and why the final savings depend on the phone exchanged and the payment method used.
Read moreAt Sotheby’s, a feast of rare science books includes volumes from Copernicus, Galileo and Newton that together revolutionized human understanding of the cosmos.
Read moreBeijing Agreement advances global vocational education cooperation
Read moreArtificial intelligence (AI) could give small businesses a competitive advantage over large companies by helping them improve productivity, overcome resource constraints and adopt new technologies faster, former UK Prime Minister Rishi Sunak said.
Read moreChina’s artificial intelligence companies have spent years persuading consumers to pay for their technology. Now, Moonshot AI, the start-up behind Kimi, is taking a different approach: offering AI computing benefits through a credit card. The company has teamed up with the Agricultural Bank of China (ABC) and American Express for what it calls “the world’s first AI native credit card”. After getting one for myself, the experience offered an intriguing way to bring AI services into everyday...
Read moreWhy new energy storage needs international cooperation
Read moreStarlink Wi-Fi continues to make a huge difference in the travel experience for millions of United customers, and today the airline announced that it is now on nearly half its daily departures, launched a new digital Starlink tracker tool that lets travelers check if Starlink is on their upcoming flight, and extended its new “Switch to Better Wi-Fi” status match campaign to October 22. The new Starlink tracker – StarlinkTracker.United.com – was created in response to customer demand and takes users behind the scenes of United’s Starlink rollout. The stats on the site are updated daily and visitors can:
Read moreIRENA Coalition head urges global teamwork as energy storage grows
Read moreiQOO Neo12 is confirmed for an October launch. Read about its Snapdragon 8 Elite Gen 5 chip, 9000mAh battery, and 2K 185Hz screen innovations.
Read moreYOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.
