Onboarding Yapily to use Direct Communication
Important
Utilizing an open banking service such as Yapily may result in additional transaction fees being charged by your bank. For more information, we suggest contacting the Cash Manager at your bank.
To integrate with your United Kingdom-based bank, Payment Management uses Yapily, a secure open banking API infrastructure that provides payment services and enriched financial data.
Payment Management integrates seamlessly with Yapily, and you can download your bank account statements and initiate payments directly from Microsoft Dynamics 365 Business Central.
Important
To enable users to utilize open banking via Yapily, you'll likely need to grant additional privileges to existing roles or create a new custom role for assignment. Please refer to your bank's articles or contact them for detailed instructions on how to give access to Open Banking providers.
Yapily Connect
We've partnered with the open banking platform Yapily to integrate with banks in the United Kingdom. Yapily enables companies to share financial data and access payment infrastructure.
Note
Connecting banks through Yapily is only supported for Business Central version 22 or higher.
Yapily lets you do bulk payments, single-line payments, and a mix of these. You can create domestic and international payments for both scheduled and immediate payments, provided that the bank supports this feature. Refer to the bank-specific articles to learn more.
Yapily payments terms:
- Immediate payments - payments the user can configure to pay an entity immediately (same day payments).
- Scheduled payments - payments that the user can configure to pay an entity at a future date.
Every payment through Yapily requires authentication. If you use Yapily Connect with your Payment Management solution, you are informed of making the connection to Yapily Connect, and by proceeding, you agree to the Yapily terms and conditions.
To set up direct communication with Yapily
To use the services of Yapily, go through the steps of the assisted Assisted Setup guide Set up Bank Account in Payment Management.
In Business Central, select the
icon, enter Bank Account Setup, and select the related link.Select Next to start the assisted setup.
On the Bank Accounts page, select an existing bank account or create a new one.
In the Communication column, ensure that Direct Communication is selected for the bank account, and then select Next.
On the Choose Bank Account Type page, select the account type, OK, and Next.
The fields on the Bank Account Setup page are prefilled with information already available in Business Central. You can change the entries if necessary. Continia uses the Contact name and Contact email fields to send notifications related to the Know Your Business (KYB) verification process that verifies the ownership of the bank account.
You can enable the Operating address (if different) setting to add an alternate address.
Select Next.
On the Authenticate connection page, select Authenticate the connection. You are now directed to the login page of your bank.
Log in to your bank, select one or multiple accounts, and select Confirm. A token is sent to Business Central. Continia uses this token to start the communication with your bank account.
Select Next. Now, you can download account statements, making payments possible through direct communication from Business Central with the bank.
To download the account statements
The bank account reconciliation using Yapily uses standard Payment Management reconciliation functionality. For instructions on how to set up the bank accounts reconciliation, refer to the Setting up Statement Intelligence article.
Reconciling bank accounts with Statement Intelligence makes it possible to import bank statements from Yapily directly into the bank accounts reconciliation and automatically match statement lines with posted Bank Account Ledger Entries. For more information, refer to the Reconciling Bank Accounts overview.
To send a payment with Yapily
Yapily lets you do bulk payments, single-line payments, and a mix of these.
In Business Central, select the icon
, enter Payment Journal, and select the related link.Open the relevant journal, and in the action bar, select Prepare > Suggest Vendor Payments.
Select a line, and select Bank > Export Payments.
On the Payments page, select a payment, and in the Action column, select Authenticate Payment. On your first authentication, you are informed of connecting to Yapily Connect. Enable the Don't show this again setting to prevent this message from displaying for every payment.
You can send bulk payments and combine multiple lines or single-line payments.
Log in to the bank and select the accounts.
If you select Ok to confirm the payment, it disappears from the list, and in the Payment Journal, the status will be set to Sent.
To revoke Yapily Connect consent
At any time, you have the option to withdraw your consent for using Yapily Connect.
To revoke the Yapily token:
Use the
icon and search for Banks, and then select the related link.In the Banks overview, choose the bank from which you want to revoke the token.
On the action bar, select Connection > Revoke Token.
Important
When you select Revoke Token, your direct access to the bank will cease immediately. Therefore, you must make sure that there are no pending transactions in the Payment journal awaiting processing. Also, verify that there are no missing statements that you need to retrieve. If you don't follow these steps, these tasks must be done manually.
Select OK to confirm the deletion of the token.
If, at some point, you decide to reconnect with the bank, refer to the steps outlined in To set up direct communication with Yapily.