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Empower your multibanking connectivity relationship

Macrotrends such as high inflation, global pandemic, multibanking connectivity network, digital acceleration, and payment modernization act as a catalyst within the financial services industry as banks attempt to grapple with new ways to enhance the customer experience across various sectors. That’s where banks and corporates seek connectivity solutions to connect to a broad network of banking partners without the complexity of managing multiple connections.

Net, ECS´s banking connectivity network, following the Multibank as a Service approach, enables your company direct, secure, and efficient access to your banking partners. We offer multiple services over one single channel while supporting the deployment of new ones to help you connect to the world. With improved connectivity, it has now become seamless for corporations to reach their banking partners more quickly and cost-effectively.

Challenges with multibanking connectivity

Technology is imperative in establishing bank connectivity with corporations so that treasury and financial systems can converse directly without any hassle. The solution must scale concerning the scope and volume of connections while managing the competency to interface with new ecosystems connected in the legacy environment via internet technology adjustments or bank acquisitions. Below shared are some common challenges with bank connectivity:

Inflexible file format options and lack of ERP integration.
Limited Internet protocol support for AS2, MQ, HTTPS, SFTP.
Rigid security policies (encryption, firewalls, audits).
Performance and capacity constraints.
Lengthy implementation times.
Reconciliation challenges.
Limited visibility to cash and payment status.
Varying capabilities and support processes across different geographic regions.

Corporations quest for a centralized connectivity solution that eliminates the complexity of using different bank portals. Many global firms operate with dozens of banks and companies, so eventually, they are obliged to manage hundreds or even, in some cases, thousands of bank accounts. We have observed that it takes an average of six months to complete the full integration cycle at the cost of between $100,000 and $300,000. Just consider this estimated calculation and multiply it by the number of banks that you want to build a connection with. You can imagine the effort and cost of any department when trying to do bank connectivity. This development has already been completed with Net, ECS Fin’s banking connectivity network, in implementing more secure and efficient processes.

Net, multibanking connectivity to communicate, innovate, and modernize your connections

At ECS Fin, we believe that all banking connections should be in the consolidated portal to monitor all the processing, statements, and reports. Simplify the connectivity while managing application development time and costs.

A single efficient and secure channel for exchanging information between your company and banking partners.
Boost the reliability of your banking network with our already-established connection network.
Supports connection protocol or message format used by your banking partner.
Standardize formats and processes within ERP to save time, cost, and efforts.
Real-time liquidity management
An intuitive user interface enables you to match the protocol and security standards required by your company and different banks.

Let ECS Fin help you enhance your banking connectivity journey and build new revenue streams by taking advantage of the Net, an efficient, secure, and agile solution.