Beyond OpeN

What your business customers need – BankiFi offers:
payment & collections
making tax digital
access to finance and cash forecasting & alerts

BankiFi

/ baŋkɪfʌɪ /

verb

to BankiFi is to allow a bank’s customers to control and manage access to their data - held by any data controller or data processor (bank or non-bank) - through fine-grained consent. By doing so banks can offer meaningful and monetised services to their and other banks’ customers utilising their trusted brand.

Beyond Open: The bank as a TPP

Open Banking is firmly on the menu around the world at varying stages of actual progress. But ‘Open’ is not enough. ’Beyond Open banking’ is all about creating instant, relevant and contextual experiences that truly bring value to customers of banking services. For this we need two things: Consent from the (business) customers to access their relevant data and a viable and realistic set of services that benefits both the bank or financial service provider and their customers. With the consent centric BankiFi foundation and its value add corporate and business solutions, banks can extend their customer relationships in a model that is financially sustainable and built for growth. This way we help global financial services providers to open up their business to external (fintech) partners in a way that is safe, easy to use, monitor and monetise.

If Banks take the opportunity to act as TPPs themselves, they have the opportunity of understanding what their business customers do with other competitive banks, and fintechs. This way banks can generate fair fee based income by charging flexible rates for those services and insights and to the fintechs that use the bank’s app store as the last mile to the customer.

Business Banking First

At BankiFi we focus on the business banking segment: underserved, unconnected. Banks realise that what they offer is often product driven, inflexible and not ‘easy to use, fair and transparent’ as has become today’s norm. As fintechs appeared offering niche, attractive, easy to manage and often cheaper exchanges etc., business users started to meander through this unconnected forest of parties vying for their business. As the fintech community grew, businesses were inundated with alternatives for lending, financing, currency trade, etc. Offering benefit yes but also adding complexity and still not offering what they need the most: an integrated overview on the financials of their business, actionable insights and access through the two channels they know and work with: their accounting package and their bank account.

Consent and Collaboration

BankiFi is more than a ‘piece of code’, it is a company and a team that puts consent and collaboration at the core of its way of working. As we build tools for a fairer and more transparent world, that is open to new ideas and young talent, we realise it must also add to a sustainable and profitable future. This can only mean one thing: the ‘how’ must reinforce the ‘what’ we do.

 
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How to BankiFi

“To BankiFi is an end-to-end game: open banking imagination, selection and co-development of BankiFi multi-data consent driven platform and (revenue generating) businesssolutions, testing in a real-life ConsentBox before going live in the Open Banking world, if needed supported by a go live marketing campaign.”

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Nordea_Masterbrand_500px_RGB Logo

BankiFi is a co-creation partner for the Nordea Open Banking Platform

“Together with BankiFi we have within a short time frame managed to come up with an innovative solution that will be of great interest for many of our customers and by that we have also proven that co-creation with 3rd parties on the Open Banking platform will turbo charge our development of new products”
Claus Richter, Head of CM Customer Solutions at Nordea

 

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