What is Open Banking?

Open Banking means that third-party providers, such as websites, apps and online banks, can access bank data through open APIs. This means that companies, which are not necessarily banks, get the opportunity to develop new services and apps based on this data.

Open banking makes it easier for your company to automate financial processes, increase security and operate more efficiently. No matter which bank you use, you get greater freedom to choose solutions that suit them best. For you as a user Catacloud This means a simpler, safer and more cost-effective everyday life.

Let's take a closer look at how Open Banking via Catacloud gives your company a competitive advantage.

1. Full overview = full control

With Open Banking, you can connect the bank directly to Catacloud's system via one simple integration. That means you get real-time information about your deposits and withdrawals, without the need to log in to several different banks. Imagine a situation where you have several bank connections - instead of switching between online banks, you can now get a full overview of all your accounts and liquidity in one place. This gives you better control over your company's finances and saves valuable time.

Example: A company with several bank accounts can easily collect all transactions in one view through Catacloud's integration, which provides immediate insight into liquidity and makes accounting significantly easier.

2. Safety in the driver's seat

Security is central to PSD2, which requires strong authentication for all transactions. This means that your financial data is well protected against fraud and abuse. For Catacloud's customers, this means that all payments and data exchanges meet the strictest requirements for security. BankID and other verification methods ensure that transactions are carried out in a secure manner.

3. Effective payment solutions

Cumbersome and manual payment processes are a thing of the past. With it, your company can make payments quickly and easily directly from the accounting system, without having to log into the online bank for each individual transaction. This eliminates unnecessary steps and reduces the risk of errors.

With automated payment solutions, you can save valuable time, which can be used for more strategic tasks, and at the same time ensure that finances are handled efficiently and securely. For companies with many transactions, this means increased productivity and better control over the payment flow.

4. Greater competition, lower costs

An important benefit of PSD2 is the increased competition between different providers of payment solutions. This gives companies more choices and access to more affordable services than before. For you as a Catacloud customer, this means that you can choose the solutions that provide the most value for your company, while reducing operating costs.

Example: Companies that handle large volumes of transactions can save significant sums by taking advantage of the favorable prices and innovative solutions that third-party providers offer through Open Banking.

5. Get the bank straight into Catacloud with ZTL!

Catacloud supports integration with ZTL. ZTL offers a single API integration that provides the access you need regardless of the bank you use. This means you don't have to set up and maintain multiple bank connections - ZTL does the work for you. In addition, they offer functions such as currency management and risk-reducing measures such as KYC (Know Your Customer), which makes it easier to run a safe and efficient business.

Example: A company that operates internationally can easily handle currency exchange and risk management, without having to set up several systems or work with different suppliers.

You can read more about the integration with ZTL here.

Tomorrow's accounts with Open Banking

Open Banking is not just a technical solution, it is a new and better way to run your business. For Catacloud's customers, this means greater flexibility, increased security and the opportunity to compete on a completely new level. The collaboration with ZTL allows you to grow with your business without worrying about the complexity of multiple banking systems.

Do you want to take advantage of the opportunities that Open Banking offers? Contact us today to find out how Catacloud and ZTL can give your company a technological edge.