iplicit Partners with Crezco to Become First mid-market Accounting Platform Offering Embedded Payments to UK Customers

WHY THIS MATTERS:
For many UK mid-market finance teams, accounts payable remains fragmented. While invoice management and approvals may sit inside accounting platforms, actual payment execution often requires exporting files and logging into separate banking portals. This manual break in the workflow introduces delays, reconciliation challenges and operational risk. iplicit’s launch of iplicitPay, powered by FCA-regulated Crezco, embeds Open Banking-powered payments directly into the accounting environment — allowing the full payables cycle to be completed in one place.

For the mid-market, this is significant. Entry-level platforms have offered embedded payments for small businesses, but with limited functionality, while larger enterprise systems have often prioritised US markets. By integrating bulk payments, scheduling, delegated approvals, real-time tracking and automated reconciliation, iplicit is targeting a segment that has historically fallen between basic SMB tools and complex enterprise platforms.

iplicit, the leading cloud accounting platform purpose-built for the UK and Ireland’s mid-market, has today announced a strategic partnership with UK-based embedded payments platform Crezco.

The partnership will see iplicit launch a suite of embedded payment features within its platform called iplicitPay, enabling users to dramatically reduce the time it takes to process payments.

iplicitPay is powered by Crezco, which is regulated by the Financial Conduct Authority (FCA), and will extend iplicit’s accounts payable capabilities allowing customers to pay suppliers directly within its platform.

Previously, customers managed invoices, approvals and matching in iplicit but had to export payment files or log into separate banking portals to execute payments. This workflow created administrative overhead, visibility gaps and reconciliation challenges.

Through its market-leading partnership with Crezco, iplicit will enable customers to complete their entire payables cycle – scheduling advance payments, delegating approval workflows, and tracking payment status in real-time – all within a single platform.

A first for the mid-market

iplicitPay positions iplicit as the first mid-market accounting platform to offer complete accounts payable workflows with embedded payments to UK customers.

While some entry-level accounting solutions targeting small businesses currently offer in-app embedded payment features, they lack the functionality required for mid-market complexity.

Direct mid-market alternatives continue to require manual payment file exports, and enterprise platforms currently only offer embedded payments to US customers, with UK customers still having to export files.

The partnership with Crezco also provides iplicit with a standardised payment infrastructure that connects to hundreds of UK financial institutions. This replaces individual bank file integrations, allowing iplicit to deliver a more consistent and reliable payment experience as the customer base scales.

With iplicitPay, payments are authorised securely through the customer’s bank using Open Banking infrastructure. 

Ralph Rogge, CEO of Crezco, adds: “Businesses want payments to be simple, secure, and built into the tools they already trust. By working closely with iplicit to embed payments directly into the platform, we’re helping businesses reduce friction, improve visibility and stay in control of their cash flow” 

iplicitPay’s capabilities will include:

• Bulk payment execution for paying multiple suppliers in a single workflow: eliminating repetitive manual transfers and reducing payment runs from hours to minutes
• Payment scheduling for future dates: ensuring suppliers are paid on deadline without requiring manual processing on the payment date
• Approval delegation: allowing finance teams to prepare payment runs without direct bank account access, with controllers or directors authorising execution through their banking app
• Real-time payment tracking within iplicit: providing complete visibility into payment status and cash flow without logging into multiple banking portals
• Automated reconciliation: that eliminates the need to manually match payment data after execution
• Bank-level security: with payments authorised securely through customers’ existing online banking using Open Banking

The embedded approach also reduces operational risk many systems carry today, removing the need to download, edit and upload bank payment files which often leads to manual data entry mistakes, incorrect beneficiary details or outdated files.

Paul Sparkes, Chief Product Officer at iplicit adds: “At iplicit, our product roadmap is driven by the challenges mid-market finance leaders face daily, and we prioritise listening to their needs.”

“Our partnership with Crezco allows us to deliver a complete AP workflow with embedded payments – something our customers have been asking for and that UK mid-market solutions have been missing.”

“iplicitPay eliminates the manual step that breaks the payables workflow. Finance teams can now pay all their suppliers in a single session, schedule payments in advance, and track everything in real time without ever leaving iplicit. This saves businesses time, reduces errors and puts finance teams in control of their cash flow.”

iplicit’s cloud-native platform serves two distinct mid-market segments: organisations trapped on legacy on-premises systems requiring real-time reporting and consolidated group-level tracking, and businesses that have outgrown entry-level cloud solutions and now require advanced controls, sophisticated reporting and multi-entity consolidation.

The platform serves over 50,000 daily users, with system access from 103 countries, across sectors such as tech and SaaS, financial services, property management, manufacturing, wholesale and distribution, education, and the nonprofit sector.

FF NEWS TAKE:
Embedded finance is moving deeper into back-office workflows. The real opportunity is not just payment execution, but control — reducing error risk, improving cash visibility and shortening payment cycles.

If adoption scales, iplicitPay could set a new standard for mid-market accounting platforms in the UK, particularly as Open Banking infrastructure matures. The competitive edge will lie in reliability and seamless bank connectivity, not just feature depth.