News

Raiffeisen Bank International partners with FinLync

Thursday 6 October 2022 10:57 CET | News

Raiffeisen Bank International has signed a partnership agreement with treasury fintech FinLync to provide cash management services via corporate bank APIs.

The collaboration will provide Raiffeisen Bank International’s offering to corporate customers in Austria and CEE.

FinLync transforms corporate finance and treasury offices by aggregating global banking Application Programming Interface (APIs) to deliver embedded real-time payments and cash management.

Through FinLync’s products, RBI’s commercial bank APIs and offerings will be made available with a plug-and-play approach to existing and new corporate clients.Through FinLync, RBI can better serve their international customers that are using SAP for their treasury operations. From now on, they can consume RBI’s cash management services directly in the environment they appreciate.

FinLync is a privately held, global fintech company transforming corporate finance and treasury offices by aggregating global banking APIs to deliver embedded real-time payments and cash management. FinLync’s enterprise resource planning (ERP) native apps and API connectivity helps treasurers to optimise cash, make faster decisions, save time, and reduce the resources needed to manage complex finance needs.

FinLync’s partnerships

This year was one full of partnerships for FinLync. In May, it partnered with Deutsche Bank to enable corporate treasury and finance teams to connect to the bank’s API offerings. In September, it partnered with DBS to provide a more efficient way for corporates to digitalise their corporate treasury functions by leveraging DBS’ extensive API suite RAPID.

Raiffeisen Bank International partners with treasury fintech FinLync to provide cash management services via corporate bank APIs.

The DBS-FinLync partnership enables corporates to experience greater ease of integration, eliminating the need for complex implementation projects. With plug-and-play capabilities to integrate banking services through the bank’s APIs into their workflows, corporates can now directly connect to and leverage DBS’ extensive suite of cash management, workflow, trade, information, and foreign exchange (FX) services in real-time. This helps corporates to accelerate the pace of automating their treasury operations and speed up their decision-making processes.

Earlier in September, FinLync has also launched its inaugural Power Rankings Report for Corporate Bank APIs, delivering transparency into the status and quality of premium bank APIs being developed for different use cases across the global banking industry.

APIs in treasury

While APIs are proving an innovative addition to the treasury and finance landscape, their benefits depend on the industry’s continued adoption of modern cloud technology. This is because API development has advanced so rapidly in the last decade that many older or ‘legacy’ financial platforms, particularly those that are still hosted on-premises or via local servers, cannot support the newest programming standards.

As digital business models evolve, and expectations for the immediate fulfilment of goods and services increase, the need for real-time or just-in-time treasury processes and decision-making continues to grow.

The core benefits of APIs for treasury are:

  • Back-office automation – APIs enable an organisation’s various treasury and financial software products to share data and process information in an automated fashion.

  • Third Party Integration – APIs can connect a company’s back-office systems with third party solutions used by their banks, partners, and vendors.

  • Customisable commands and queries – APIs can be configured to perform a variety of financial reporting and process execution functions in the areas of payments, cash management, and security.

  • Global consistency – Collaboration between fintechs has helped standardise global API logic and drive cross-platform automation between financial systems.

  • Real-time connectivity – an increasing number of cross-platform functions and routines are being automated, which leads to greater real-time connectivity for treasury teams.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: banks, partnership, fintech, API, real-time payments
Categories: Banking & Fintech
Companies: FinLync, RBI
Countries: World
This article is part of category

Banking & Fintech

FinLync

|

RBI

|
Discover all the Company news on FinLync and other articles related to FinLync in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events