Bank Connectivity

Global bank connections as a service

Integrate all your banks into any financial back-office system

A corporation’s connection to a bank is at the core of its operations. To be in business, you need to have a relationship with at least one bank and a solution for sending payments and receiving account information. Processes relating to cash outflows and inflows obviously need to be secure and run without interruptions. In addition, Treasury needs reliable and up-to-date data on transactions and account balances for accurate analyses, forecasts, and financial and business decisions.​ In short, all bank material needs to be pulled in.

 

 

Challenge

Lack of bank connectivity poses additional security risks

Considering the critical importance of bank connectivity, surprisingly many corporations are​ still making do with online banking tools and manual processes for uploading and downloading data. This leads to a myriad of different web banks and security tokens and it can be almost impossible to keep track of who has which security token.​

The different banks, and respectively the different interfaces in use can also at worst, create a lot of manual work sending payment files and gathering account balance data. If the process is automated but​ the integrations are hosted on-premise, the IT department and Treasury​ have to deal with a considerable​ maintenance burden to keep the​ solution up-to-date and operational.

 

Solution

Benefits of bank connectivity as a service

The advantages of multibank connectivity can be best achieved when the bank connections are acquired as a service.

  • You will get plug'n'play connectivity
  • You can pay as you go
  • You will get round-the-clock monitoring
  • You will get end-to-end security
  • You will get future-proof functionalities.

SWIFT Compatible Application

Read more about this in the SWIFT Compatible Application finder.

SWIFT Compatible Application Cash Management for Corporates 2020_high res

These companies trust us

kone250x250 transparent Secure & Harmonized Secure and harmonized bank connectivity is the backbone of Kone's global cash processes
Valmet 250x250 transparent Global Payments

Valmet wanted to create consistent automated processes for payment management and reconciling and posting customer payments in its international Financial Service centers.

Solutions

Liquidity

Liquidity for cash visibility and forecasting.

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Reconciliation

Streamline and automate transaction processing

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Payments

Secure payments, anytime and anywhere.

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