Valiant Bank, Contovista and Swisscom have taken a step towards open banking with a multibanking solution, allowing a central financial cockpit for SMEs.
The new solution will allow SMEs to manage accounts with different banks. It depends on an accounting system interface.
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The multibanking module is an extension of Contovista’s business finance manager (BFM). It allows cashflow analysis directly in the banks portal and displays the existing liquidity together with a liquidity forecast across all accounts in a single central financial cockpit.
It allows to link third party accounts in e-banking, offering an overview of all connected bank accounts.
The solution enables SMEs to manage their liquidity across all connected accounts in a user-friendly manner through a central financial cockpit.
Valiant is using the Swisscom’s EBICS as a Service for exchanging data with third-party complying with the highest security standards.
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By GlobalDataValiant Bank head of distribution channels and member of the management board Christoph Wille said: “With the multibanking service we are responding to the high demand from our business customers for a comprehensive overview of their accounts with Valiant and with other banks.
“In combination with our new Business Finance Manager, we are offering a service which is currently unique in Switzerland, providing SMEs with a simple way to control their finances and liquidity across banks. At present, this represents a clear differentiating factor and strengthens our position as a modern SME bank.”
Contovista combines data, technology and design for unique banking experiences. The company’s white label software, data & analytics solutions can be integrated into existing banking systems.
