nomentia bank account management

Bank Account Management

 

Manage all your bank accounts, transactions, and balances efficiently from a single place.

 

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Robust bank account management in one tool

 

Facilitate bank account management by connecting all your bank accounts to Nomentia to manage banks, accounts, and related processes.

 
Gain visibility and control over the bank accounts maintained globally

Enhance the control over your bank accounts and transactions

 

 
Account management
Connect all your group's bank accounts globally to manage all the transactions and balances from one single application.
Transaction management
View all transactions, automated postings, and vouching numberings,  generate reports of all transactions from all accounts.
Balance management
View balance data, including opening and closing balances, limits of account statements, net flows, and available balances.
Calculated value data balances
Calculate value data balance for each day and get an easy way for calculating it also for zero balance accounts.

Get the benefits of bank account management

Manage centrally all accounts, transactions, and balances from one application.

Centralized control
Get visibility into all your group's bank accounts, transactions, and balances to improve organizational control.

 

Process harmonization
Create and maintain standard and transparent processes across all the group's bank accounts.
Process automation
Automate processes such as data transfers, interfaces, and postings to minimize manual work and errors.
Scalability
Limitless bank account connectivity for efficient multi-bank communications and management.
Robust reporting
Access all your data rapidly and search, filter, and group data to create reports of your bank accounts and transactions.

 

Strong security

Eliminate the possibility of fraud by controlling users and get all the necessary audit trails.

Solution Overview

Bank account management features Bank account management consists of the following features and the Platform features
  • Scheduled retrieval of account statements and specifications & reference materials.
  • Retrieval of intraday transactions, incoming currency payments’ advance info, and balances.
  • Browser UI for browsing, searching, grouping, and filtering retrieved account transactions and balances. Transfer of selected material to Excel.
  • Retrieval of exchange rates.
  • Posting of account statement transactions, support for posting models and rules, splitting and combining of transactions. Verification of posting.
  • Value date balance calculation.
  • Distribution of bank materials into several other systems.
  • Formation of balance and transaction files.
Platform features Platform features are always included in Reconciliation.
  • Microsoft Azure, Microsoft Gold Cloud Platform Our modern Cash Management platform is hosted in Azure and we have reached the Gold Cloud Platform competency within the Microsoft Partner Network.
  • ISAE 3402 TYPE 2 and SWIFT Certified Application (Cash Management for Corporates and CSP compliance) Security is a top priority when building and maintaining our Cash Management platform. The ISAE 3402 TYPE 2 and SWIFT CSP certifications are a testament of our high standards.
  • Bank connections with SWIFT Lite2 Business Application (FIN and FileAct)​ Our platform is the leading Lite 2 Business Application provider. In practice, this means that our customers can connect their BIC address to our platform for sending payments and receiving account statements between all SWIFT SCORE connected banks around the globe. ​
  • Host-to-host bank connectivity with SFTP, EBICS, WebService, and others By using different protocols, we can offer our customers an extensive portfolio of host-to-host bank connections to their core banks.
  • SOX-compliant user right and master data management With our advanced user management, you can truly enhance security and benefit from the four-eyes principle. All system events are logged within the application for further inspection.​
  • Single Sign On (SSO) and Multi-factor authentication (MFA) For increased access security when logging in to the application, end users can be identified with both Single Sign-On and Multi-factor authentication. ​
  • Separation of data and duties Our detailed user rights management makes it easy and flexible to set up user rights according to your organization's needs. Users can only see the data allowed by their user rights.​
  • Automated integrations (API, SFTP and WebServices) with monitoring— The Cash Management platform can integrate with any source system for secure and automatic imports and exports of data.​
  • Dynamic material conversion engine​ — We offer standard file formats but our powerful conversion-as-a-service offering gives you the freedom to connect your source system in any format. This will speed up implementation time and lower the integration costs.​
  • A full audit trail provides transparency​ — All events happening in the platform are logged. The main log is visible in the application for the users to have this right. ​
  • Dashboard functionality​ — Place your essential Liquidity Reports in a Dashboard for a quick access. Build Dashboards based on themes such as Cash Visibility, Forecasting, Forecasting Follow-up, and Working Capital. Balance Tracker gadgets will monitor your statement imports and the Unit Reporting gadget will let you know about the forecasting status of your subsidiaries.​
  • FX-rate imports​ — As a standard, FX-rates from ECB are available in the system. Alternatively, FX-rates from any source (such as your TMS) can be imported. ​
nomentia bank account management

Contact us and learn more about bank account management!

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