BancheInCloud is a business intelligence platform for the aggregated management of current accounts through which personal, family, and corporate accounts can be linked to optimise administrative work.
BancheinCloud is designed for small and medium-sized enterprises (SMEs) that want to digitise and automate their own management. The implemented functions allow users to extract insights, set up reports, and share information with third parties as well as import invoices, perform payment reconciliations, and fill in the first note automatically.
The solution employs Fabrick Pass, which allows the use of Payment Services Directive Two’s (PSD2) application programming interface (APIs) published on the platform. It also uses the account information service provider (AISP) licence available in ‘as a service’ mode, allowing access the information of the accounts the user has consented to.
The passporting of the licence obtained by Fabrick and the proprietary technology for multi-bank connectivity enable the service to be deployed on the Spanish market.
Open Banking opened the opportunity to transform the banking movement into digital data available in real time – information useful when implementing new services and planning new business processes.
The collaboration between Fabrick and Easy4cloud responds to the specific needs of companies for more efficiency through the display of all accounts of the company from a single touchpoint, the sharing of transactional information, and the automatic reconciliation of invoices.
Through the passporting of Fabrick’s licence, the project is operational on both the Italian and Spanish markets, demonstrating the opportunities that the implemented model can offer. This means that Fabrick allows foreign operators to enter the Italian market while also accompanying Italian companies into new markets.
Fabrick operates internationally to promote the idea of Open Finance and until now it is authorised to operate in 11 countries: Italy, Belgium, Germany, Spain, France, Greece, Hungary, the Netherlands, Poland, Portugal, Slovenia.
This is the fifth partnership Fabrick closes in 2022. It started in January with a research paper aimed at outlining the present status of Open Finance transformation in the market. It then collaborated with European House – Ambrosetti and illimity for a survey which involved 630 players (fintech, companies, and international startups).
One month later, in February 2022, Fabrick partnered with Valocity to bring the Australasian and APAC property valuation technology to the underserved European and MENA market.
By the middle of April, Fabrick has partnered with Prestiamoci for automated and real-time management of Peer-to-Peer (P2P) lending flows. Thanks to Fabrick’s Digital Mandate and SEPA Direct Debit solutions via API, used as a service, Prestiamoci can operate pre-authorised charges on the accounts of loan applicants in a digital way.
Finally, it helped Banca Sella launch a digital platform with an Open Banking perspective. Through Smart Business Sella, Banca Sella strengthens its offer to businesses by offering a gateway of digital services that makes transactional and management data available, capable of providing strategic information for more efficient business management.
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