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Blog category: Insights

The requirements for finance and treasury solutions are changing as the complexity of system landscapes, payment operations and data are growing. Dealing with multiple systems, banks and other external providers is a challenge that keeps IT consultants busy.

FinanceKey is pleased to announce being a member of the Common Global Implementation - Market Practice (CGI-MP) initiative. FinanceKey CTO Macer Skeels joins CGI-MP working groups bringing a wealth of treasury & technology knowledge to the committees and valuable insights into multi-bank connectivity from corporate, bank and software vendor perspectives.

Payment frauds are getting more sophisticated and complex to spot as fraudsters attack day-to-day business processes. One common fraud is hacking into the supplier’s email, changing the bank details on the invoice and sending it for payment. Change requests coming from a credible source, including valid documentation, are hard to spot unless one has a prudent protection mechanism built for vendor frauds.

Treasury teams work in the intersection of multiple systems and external partners, creating a very fragmented landscape from tooling, data and workflow perspective. To solve the complexity treasuries are facing, FinanceKey has invested early on in building scalable technology, that can support any payment and treasury use case.

One of the key decisions FinanceKey has taken is to consciously put APIs first. Many people have been asking why we considered this decision so important. This post answers those questions about why we think APIs are so important, and in particular, what benefits they will bring to the banking and treasury domains.

FinanceKey has been awarded Account Information Service Provider (AISP) status by the Finnish Financial Supervisory Authority (FSA). AISP registration provides us with the ability to help customers access their bank account data via the regulated Payment Services Directive 2 (PSD2) Application Programming Interfaces (APIs) within the European Union (EU).

Experienced finance leader, and currently advisor, coach and board professional, Kristian Pullola joins FinanceKey as Chair of the Board. Kristian brings a wealth of strategic and hands-on experience to the founding team having worked in several top finance and treasury roles during his career, including positions as Executive Vice President, CFO and Vice President, Head of Treasury and Investor Relations at Nokia Corporation.

We are thrilled to announce the FinanceKey founding team. Together, we aim to build intuitive tech for finance professionals eager to leverage API banking. We have ourselves faced the pain points many finance and IT professionals encounter every day — and are looking forward to help solve these for others while driving the use of real-time finance operations.

The waves of open banking innovation reach the corporate sector as banks look into providing better service for their biggest clients. Banks hold a lot of data that helps automate treasury operations. For banks, APIs offer the potential of monetizing the data and innovative ways of providing banking services. Businesses benefit from API banking with new and unprecedented opportunities to digitize finance operations end-to-end and become real-time.