Smart Fintech has launched a new open-banking product, Smart Accounts, the only account interrogation service – AIS, developed in Romania and authorized by the National Bank of Romania (NBR).
The solution suites individuals and legal entities (who will thus be able to access all their bank accounts in one place) and all the companies processing their customers’ financial-banking data (such as billing platforms, NFIs, ERP services, or personal finance management providers).
By integrating the account interrogation solution into their platforms, businesses partnering with Smart Fintech have access to their customers’ profiling data, which allows them to make well-informed strategic decisions regarding the subsequent offering of products and services. Moreover, the Smart Fintech integrated partners won’t need to go through the authorization process: Smart Fintech, the authorized third-party service provider, acts as an intermediary between the bank and them and ensures compliance with the regulations.
On the other hand, the end-user, whether a natural or legal person, benefits from having the Smart Accounts solution implemented in the platforms they use, as they can access account details, transactions and history, and balances. All this information facilitates financial forecasts and seizing savings and investment opportunities.
“Smart Accounts is a headless product (through which banking services are integrated directly into the fintech platforms, delivering content and experience tailored to each channel and user) which, through APIs, brings full automation of transactions and payments to potential customers, directly from account to account. Currently, they handle data manually or only with small automation through APIs. Smart Accounts is an actual digitization and automation solution, accessible in 3 clicks, in a straightforward form, in a dynamic process, with live financial data “, says Mihaela Georgescu, Co-Founder of Smart Fintech.
“For security reasons, the control over access to data remains with the end-user, who allows consent to the used platforms for 90 days, with the possibility of subsequent extension,” adds Mihaela Georgescu.
“Our partners can analyze the spending behavior and determine the performance score of each customer profile. That enables them to define and provide offers for most suited products and services, based on the context and financial profile of each of them”, explains Ana-Maria Georgescu, Co-Founder, Sales & Marketing Manager Smart Fintech.
