March 2022 - Reinventing Online Commercial Banking
The Rise of Open Banking
Reinventing Online Commercial Banking
The rise of Open Banking is not only revolutionizing retail banking but also Commercial Banking.
Online Commercial Banking
Successful Online Commercial Banking starts with having companies preferring your bank as the main channel for their financial journeys. To get there, we need to provide these clients with full cash visibility: multi-entity, multi-currency, and above all: multi-bank.
SMB users appreciate open banking because the traditional way of getting liquidity insights through MT940 uploads and Excel aggregation is time-consuming, and the data is often out-of-date. Nowadays, SMBs that do not have a TMS platform yet may expect their banks to help them with (near) real-time cash visibility, and for that, they need an Open Banking infrastructure.
We provide the most comprehensive and easy-to-use front end for cash visibility and the data aggregators capable of delivering the SMB with the total truth of all current cash held at different banks. Up-to-date cash visibility allows SMBs to make better financial decisions on cash and risk management.
Enrich your bank’s offering with our Open Banking solutions, contact Remco Voormolen, our Relationship Manager or contact us here.