About Automated Banking
New trends in banking services, e-commerce and business management in general have emerged due to the EU Payment Services Directive PSD2 (2018) and modern technology solutions.
What is Open banking?
Open banking is the process of enabling authorized third-party to access consumer banking information such as transactions and payment history. This practice is possible through the use of application programming interfaces (APIs).
Alongside banks, authorized third parties can now equally provide traditional banking services such as payment initiation and generating account statements.
Automated bank solution explained
Open banking enables to develop modern extra-bank technical solutions for data exchange. For example, Docura offers Docu-Bank – an automated bank solution for companies based on the above-mentioned technology. Docura sets up the integration between the client’s accounting system and the bank. The solution is universal and can be applied to any accounting system used by the client. It enables to exchange data with any European bank.
How Docu-Bank works:
- Imports bank statements automatically
- Reads bank statements
- Identifies open invoices
- Reconciles and posts
- In case of mismatch sends e-mail
- Docu-Bank allows to issue the payment orders in accounting system and forward it to the bank for acknowledgment.
Benefits for businesses
- Time-saving This solution is really accountant time-saver and gives additional values like: automated posting, to see real debts online, automated adjustment with invoices and etc.
- Efficient Automatic and timely receipt, settlement and registration of payments allows for a more efficient management of the customer’s debts and debts to suppliers, and helps to improve the execution of payments that speed up the company’s turnover.
- Reliable Integrated monitoring system helps to significantly reduce the number of negligence mistakes. Digital archive in your accounting system allows immediate search of all the needed information about any transaction.
How safe is your data?
Open banking provides the level of security equivalent to that of traditional digital bank services. If you consider any digital banking activity (e.g. sending money from your smartphone) safe, there is no reason to distrust open banking technology.
How to connect Docu-Bank
If you want to keep up with the modern business trends, to reduce the volume of routine work and to increase the analytical level of business solutions, ask Docura experts (firstname.lastname@example.org) for advice on the automation of banking transactions, on the exchange between the client’s accounting system and any European bank.