Lithuanian-based Softera is an official Microsoft partner that provides business management solutions based on Microsoft Dynamics 365 Business Central. Dynamics 365 Business Central helps optimise business processes, gather information, and centralise data under a single system, allowing for efficiency, improving businesses profitability, and bettering customer experiences. With their Microsoft partnership, Softera offers businesses an array of specialised services focusing on Enterprise Resource Planning, Customer Relationship Management, and Business Intelligence. Businesses can choose software specific to their field and receive ready-to-use solutions that will ease the need for manual input and simplify operations.
One of the solutions the firm offers is Softera.Docu-Bank. The service automates receipt and payment collection and offers integration between any European bank (Revolut, Santander, Barclays, Swedbank, PayPal, and others) and the Microsoft ERP system. It includes payment orders, receipt statements, and invoice payments in real time whilst integrating multiple bank accounts. Nordigen’s APIs support this software solution by integrating real-time bank data and facilitating the aggregation of multiple accounts.
According to the company officials, the Nordigen Open Banking integration facilitates connectivity and ease for the customers. The data that is accessed through their APIs allows Softera to continue to build and innovate with the tools enabled their Microsoft partnership.
Partnerships with Open Banking providers enable businesses to pay less for transactions. For example, they can reduce transaction costs by eliminating card schemes. Companies can also save by choosing a payment gateway with the most cost-effective service.
They also offer an improved customer experience that can boost conversion rates. Choosing a payment gateway with a convenient checkout flow and multiple payment methods can benefit businesses by increasing their conversions.
Moreover, businesses can get more data about their consumers, their finances, and habits. Having this information enables companies to offer more personalised services to their customers. Therefore, information sharing encourages companies to create more innovative solutions. Fintech companies are creating technological solutions that legacy banks have never offered before.
In September 2022, Nordigen partnered with Teenit in order to offer accurate transactional data and balances in real time. The project aims to improve the financial literacy of younger generations by providing insight into money management and budget creation. The end goal is to promote healthy spending habits in a cashless society and help children build up their financial knowledge in order to prevent money-related issues in adulthood.
In the same month, the company has also teamed up with NeteraPay to improve their Know Your Customer (KYC) procedures. NeteraPay is a Czech licensed payment service provider and electronic money issuer with over ten years of experience in the financial industry. The integration with Nordigen allows the firm to add an additional verification method to their service through Open Banking, helping automate and simplify the process of customer authentication. This option enables the company to link directly to client bank accounts to perform mandatory KYC checks to identify consumers and create risk and financial profiles.
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