• Orchard Finance

TSS October 2020

Bank Connectivity

In this fifth Treasury Solution Spotlight, the spotlight is on vendors that offer a bank connectivity solution for Corporate Treasury. Orchard Finance will periodically publish a new Solution Spotlight for different Treasury topics.

Bank connectivity solutions enable you to gain more control in your treasury activities. It reduces dependency on banks, increases security and gives daily insights in your bank accounts and cash positions. While also saving you time as most bank-related tasks are automated and can be done in one environment.

At Orchard Finance we have extensive experience with selecting and implementing bank connectivity systems. For more information about our services concerning Bank Connectivity, please contact Ariane Hoksbergen.


Bizcuit

Manage your business in one app. Bizcuit ("biz kit") enables SME businesses to go digital. Pure FinTech. Young, international and tech savvy team that is on a mission. Agile way of working. Embracing challenges. We welcome PSD2, co-creation and partnerships. ​ Solution The innovative Bizcuit app offers digital banking, accounting and document management services to businesses, accountancy firms and software providers. The Bizcuit platform enables software and service providers to add FinTech (PSD2) services to their offerings.


Cobase

Our multibank platform is a single point of access to all bank accounts and other financial products and services from many banks and financial service providers. Cobase operates independently under its own brand and under its own management at arm’s length from its main shareholders ING, Nordea and Crédit Agricole. Solution Companies that hold accounts with different banks face many inefficiencies. They have to use different bank portals to access their accounts or other financial services, and multiple ERP connections may need to be maintained. The more different banks and accounts a company has, the more complex it gets. Cobase offers a solution! Our multibank platform is a single point of access to all bank accounts and other financial products and services from many banks and financial service providers. Main features of the platform are a central Payment Hub, Cash Management and Treasury modules. Users and authorization schemes can be centrally managed for all subsidiaries or departments and only one security token is needed for each user. Additional features such as Liquidity Forecasting, FX trading and FX Risk Management with Auto Hedging are also available as of this year. The combination of this functionality with many bank connections in one place offers tremendous financial and operational efficiency, especially for medium and large size companies.


Case Study Cobase


PowertoPay

PowertoPay, a Unifiedpost Group Company, is a full-service payment provider who delivers optimal service to its global customers enabling the efficient, transparent and accessible centralization and redesign of their payment processes. Our goal is to help corporates to reduce costs and solve payment processing pain points. ​ Solution PowertoPay Corporate Payment Hub is a multi-bank platform that offers host-to-host connections and SWIFT connectivity (over 10.500 financial institutions worldwide). The Hub is able to connect with multiple ERP systems, supporting any file from any system. The data only needs to be inserted once, ensuring quicker transition processing times, improved productivity, reduced risk and increased straight through processing rates. The Hub supports also payment- and statement files. It is able to convert all types of payment information into the required file type you need, including SEPA standards. Besides supporting the regular domestic payment files, the Hub also supports international payment files.


TIS

TIS (Treasury Intelligence Solutions GmbH), founded in Walldorf, Germany in 2010, is a global leader in managing corporate payments. The Financial Times named TIS as one of "Europe’s Fastest Growing Companies" for 2019 and 2020. ​ Solution Offered as Software-as-a-Service (SaaS), the TIS solution is a comprehensive, highly-scalable, cloud platform for company-wide payments and cash management. For businesses, TIS creates a community of trust and empowers customers to make better decisions with 100% real-time cashflow visibility. Key benefits are lower costs, risk prevention, a higher degree of transparency and fast worldwide roll-outs. For banks and partners, TIS generates growth and revenue opportunities through continuous innovation for better payment experience.


"Bank Connectivity" Whitepaper by TIS