Raiffeisen Bank International (RBI) has partnered with treasury FinTech FinLync on providing cash management services for corporate customers in Austria and CEE using APIs and other collaborations, a press release said.
FinLync’s services aggregate global banking APIs to help out with embedded real-time payments and cash management, and RBI’s offerings will become more easily available through a plug-and-play approach.
“With FinLync, we have found the optimal partner especially when it comes to serving our international customers, that are using SAP for their treasury operations,” Susanne Prager, Executive Director and Head of Cash Management at RBI, said. “From now on, they can consume RBI’s best-in-class cash management services directly in the environment they appreciate – and all that in real-time, which we consider as the new standard.”
Meanwhile, FinLync global head of partnerships Toby Michelmore said the partnership made sense because there had been pressure on treasury teams “to do more with fewer resources,” and to help out with “greater speed, automation and security for bank data movement.”
FinLync has teamed with other companies lately, including getting a strategic investment from Workday Ventures, which saw FinLync joining that firm’s software partner program over the summer, PYMNTS wrote.
Read more: Payments FinTech FinLync Teams With Workday Ventures
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In a news release, FinLync said this would help it “power real-time payments, and multi-bank API connectivity to deliver a best-in-class experience to joint customers.”
It will look into powering Workday Financial Management with over 100 pre-integrated bank API connections to banks around the globe, giving Workday customers the ability to initiate real-time payments and deal with various treasury headaches. It will offer “end-to-end payment traceability, simplified connectivity, and real-time cash visibility.”
According to FinLync co-founder and Chief Technology Officer Peter Klein, the partnership is founded on the belief that companies switching to real-time working capital across various functions will be successful.
