SafeConnect rebranding

We’re undergoing a rebranding exercise to transition our SafeConnect brand to Yapily Connect. We're making this change to ensure a clearer connection between “Yapily” as a technical service provider and the “Yapily Connect” regulatory status, so offering a more connected experience.

We are rebranding both SafeConnect Ltd and SafeConnect UAB in upcoming months, and there will be changes required for Yapily and our clients.

Key Changes

  • We have adopted a phased approach to rebranding both our SafeConnect Ltd and SafeConnect UAB legal entities. We are transitioning SafeConnect Ltd (for UK institutions) first, and transitioning SafeConnect UAB (for EU institutions) shortly afterwards.
  • The changes include the legal entity name change, and re-registration with all available institutions that will be applied to your applications.
  • For SafeConnect Ltd Customers Only: You will shortly be migrated from SafeConnect Yapily Connect, migrations will be happening between 15th June - 20th June 2022. You will be receiving a notification of the date that applies to you. If you have questions please contact success@yapily.com .
  • For SafeConnect UAB Customers: Yapily Connect registration for European Institutions will be coming later this year.

Changes you need to make

Consents

You need to replace the SafeConnect wording in your consent journey with "Yapily Connect". We do not require you to use the new Yapily Connect logo, but you can contact us at success@yapily.com if you require an updated logo.

Consent guidelines changes

The table below outlines the differences in your consent journeys before and after the name change. If you use both Ltd and UAB licences, you will need to update your consent journeys twice, once for each licence, according to the timelines above.

Before the name change After the name change
Ltd

What happens next?

SafeConnect will ask to securely authorise and execute a payment from your bank and provide the payment details to [YOUR APP].

Who is SafeConnect?

SafeConnect Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2018 for Account Information and Payment Initiation Services.

What happens next?

Yapily Connect Ltd will ask to securely authorise and execute a payment from your bank and provide the payment details to [YOUR APP].

Who is Yapily Connect?

Yapily Connect Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2018 for Account Information and Payment Initiation Services.

UAB

What happens next?

SafeConnect UAB will ask to securely authorise and execute a payment from your bank and provide the payment details to [YOUR APP].

Who is SafeConnect?

SafeConnect UAB is authorised and regulated by the Bank of Lithuania under Payments Law (LB002045) for the provision of Account Information and Payment Initiation services.

What happens next?

Yapily Connect Ltd will ask to securely authorise and execute a payment from your bank and provide the payment details to [YOUR APP].

Who is Yapily Connect?

Yapily Connect UAB is authorised and regulated by the Bank of Lithuania under Payments Law (LB002045) for the provision of Account Information and Payment Initiation services.

Customer Impact

For our current SafeConnect customers there will be some implications for the consents within your application(s).

AIS

Once we migrate registrations under Yapily Connect for each institution, you will lose all AIS consents for each institution. You will have to request the user to authorise their consents for your applications again.

It is expected that you will see errors on existing consents until the user re-authorises under a new consent.

PIS

Once we migrate registrations under Yapily Connect for each institution, you will lose all PIS consents for each institution. While the impact is less significant for PIS, since you must obtain a user authorisation for every payment, you will no longer be able to check on the status of payments.

You can expect to see errors when you poll payments which were initiated prior to the migration. Therefore we recommend that you arrange to poll payments as close to your migration window as possible to capture visibility of the most recent payment status.

Note

The information above is provided as guidance only. Elements of our migration activities remain subject to change. We will ensure that you are kept informed of any such changes in good time. We continue to be available to answer any questions you may have on the process.