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.
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.
Valiant 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.