Managed App and Assembly began working together in November of 2017. Managed App utilises Assembly’s API capabilities for their end-to-end payment workflow across credit card acceptance, direct debits, BPay and the NPP. Assembly’s solution has been an integral part of Managed App’s value proposition to customers which to date has:
- Processed over 190,000 transaction and $200million+ in transaction value
- 16x growth in one year
- Payment turnaround time from 20 days to 60 seconds
"With Real Time Payments we can automate how payments are made, received, managed and cleared in real time and with payment descriptors we can provide customers with clarity and payment traceability.”
About Managed App
Technology based business Managed App is the brainchild of 4 entrepreneurs who are passionate about the property industry, and who set out to create a positive seachange for the stakeholders involved in the property rental process. Accessible on desktop, mobile and tablet, the platform is used by property managers to connect their business to landlords, tenants and tradespeople. From the moment a lease for property is signed Managed App property managers have the ability to manage a property without the need to collect rent from tenants, disperse to landlords, process bond claims and make payments to tradespeople and utility billers.
Complex payment flows and manual processes
The idea for Managed App came about as a result of frustrations with the way the property management industry operated. Before Managed App property managers and landlords faced the challenge of manually setting up and keeping track of complex payment flows and reconciling rental payments, bills, claims and expenses for every property.
“We needed multiple ways to handle payments and we wanted to push technology to provide the fastest possible service,” says Nick Bouris, Co-founder and Director of Managed App. “When the cornerstone of that service provision involves the fast movement and clearing of money, you need a payment solutions provider that can deliver that to a high standard. With Assembly this was an easy decision to make.” Assembly provided Managed App with a comprehensive set of API’s, facilitating their end-to-end payment workflows with Visa and Mastercard acceptance and transactions across direct debits, BPay, Real Time Payments which is delivered over the New Payments Platform (NPP).
“This was a packaged solution with which we were able to create as many payflows as was needed, which suited us since in property management these can be several and inexhaustive,” comments Nick. “Within 7 months of supported integration we were transacting and ready for business.”
“Assembly’s predisposition to evolve and their speed, agility and ability to add value as the commercialisation of payments changes is invaluable to Manage App, as this means we can continue to deliver the value of these technological advancements to our customers.”
Managed App’s landlords could own up to 15 properties at any one time. “With Real Time Payments we can automate how their payments are made, received, managed and cleared in real time and with payment descriptors we can provide customers with clarity and payment traceability,” said Bouris.
Access to expertise also supported the solutions design, iteration and implementation process. “We experienced continuity of people and service which meant that our team and Assembly’s were able to connect, communicate and engage without the bureaucracy that we would have encountered in other parts of the financial services industry. Assembly made a complex payments environment easy for us to navigate and were also perceptive and quick to understand what our business was trying to achieve.”
Results, Return on Investment and Future Plans
“Assembly’s predisposition to evolve and their speed, agility and ability to add value as the commercialisation of payments changes is invaluable to Managed App, as this means we can continue to deliver the value of these technological advancements to our customers,” said Bouris.
“The capabilities available as a result of Real Time Payments was an integral part of our pitch to investors when we launched Managed App and Assembly’s plans for global presence align with our trajectory for growth into new territories which will potentially present us with new opportunities.”
As a result of Assembly Payments’ solution, Managed App are able to offer a strong business proposition to the customer. “We are able to facilitate instant withdrawals for landlords, which was a strong pitch to agencies who would normally manually manage pay ins and payouts monthly,” says Nick.