Together, the companies are working to create an environment where professionals and businesses are enabled to harness the full potential of Open Banking towards making smart financial choices, improving efficiency, and fuelling economic progress.
Open Banking and what the Cloud Finance – Salt Edge partnership entails
As per the press release, Cloud Finance is committed to creating, developing, promoting, and selling various cloud software solutions for corporate finance, having a strong focus on artificial intelligence. The company offers varied software applications for financial analysis, forecasting, business planning, business valuation, smart accounting, and ERP systems to address the needs of Italy-based professionals, financial consultants, analysts, entrepreneurs, and small-medium businesses.
In the current competitive market for financial analysis, success hinges on leveraging dependable, precise, and user-friendly technologies that aid professionals in analysing their own businesses in an efficient manner. Recognising the importance of the task, Cloud Finance partnered with Salt Edge to receive assistance in automating their entire business process. By taking part in the Open Banking’s company Partner Program for account information services, Cloud Finance is enabled access to numerous Open Banking channels compliantly, with no requirement to have its own PSD2 licence acquired. Salt Edge handles all technical, security, and compliance matters so that Cloud Finance can focus on its core business.
What is more, the Open Banking solution enables Cloud Finance users to carry out real-time monitoring of current and projected liquidity and cash flows, as well as treasury management automation, by connecting all their existing accounts to the software. Currently, 78% of Cloud Finance’s customers leverage the Salt Edge bank connection, with the goal of having 100% adoption achieved in the future.
When commenting on the news, Dr. Umberto Tranfaglia, CEO, and co-founder of Cloud Finance said that the company is committed to empowering entrepreneurs to achieve financial sustainability and drive growth through its solutions and found Salt Edge to be an appropriate partner on this mission. Per their statement, Salt Edge’s solutions have integrated with Cloud Finance’s platform easily, enabling easy and fast bank account connectivity, while simultaneously emphasising security and compliance with current regulations, and they look forward to a continued partnership to provide clients with the best possible experience.
Adding on this, Andrei Scutari, Country Manager at Salt Edge said that the company’s goal is to provide businesses with improved access to tech and financial data, enabling them to act for the benefit of their customers. The collaboration with Cloud Finance aims to showcase how this can be achieved, with the spokesperson stating that they support the company’s mission to leverage technology innovations to address the challenges of the financial sector and build a bridge between tech and the finance sphere together through Open Banking.
