The buffer account is set to reshape the provisioning of loans by giving clients the ability to offer approved credit facilities to settle a customer’s transactions when funds in their account are insufficient. For example, if an account holder wants to spend £200, but only has £100 in their account, Contis’ platform will seek funds from the third party provider in real-time to allow the transaction to occur.

The launch represents a direct challenge to areas of the payments ecosystem traditionally dominated by credit card providers. It can also be used to fund corporate expense cards, enhancing a business’ ability to control employee expenditure by setting a specific draw-down limit per card instead of pre-loading cards with available funds.

The introduction of the buffer account is the latest innovative development from Contis’ award-winning, legacy-free banking and payments platform, which processes payment card transactions in real-time on both UK and SEPA payments ‘rails’.

Commenting on the launch Flavia Alzetta, Chief Executive Officer, said: “I am delighted to announce the launch of the Contis buffer account. It is yet another innovative development that demonstrates the power of our end-to-end banking and payments processing platform.

“This new functionality has the potential to reshape the payments ecosystem whilst also delivering our customers a frictionless experience and the flexibility to manage their finances more effectively”