Isabel Connect integrates finance applications directly with 26 Belgian banks
8 software and services partners sign up for Isabel Group’s new multibanking API
Brussels, June 3, 2018 – Isabel Group today introduces Isabel Connect, an API enabling Isabel 6 customers to access account information across 26 Belgian banks and initiate payments directly from their finance applications. The Isabel 6 platform supports 50,000 businesses and 70,000 users in their daily banking transactions with the largest banks in Belgium.
By integrating bank information into back-office applications, business leaders and finance experts get a detailed view on their cash positions and can automatically reconcile transactions across multiple banks, right in their familiar business application. As such, organizations can better manage cash, automate administration, and provide more accurate financial reporting.
Isabel Connect provides Isabel 6 subscribers with API-enabled access to account information and automated retrieval of payment reports (such as CODA and MT940 files) across 26 Belgian banks. It also allows to automatically upload payment files directly from a finance or ERP package, taking into account comprehensive approval flows and corporate mandate structures.
Jean de Crane, CEO at Isabel Group: “Put simply, Isabel Connect links your bank with your business applications. The worlds of multibanking, finance and ERP are coming together in order to provide a better experience for business users and higher productivity for organizations. Building strong partnerships with technology experts is key to our strategy of facilitating access to payments, documents and identities across the financial value chain.”
Eight partners have already signed up to integrate Isabel Connect into their solutions, enabling direct multibanking access for their clients. AFAS Software, Digicreate, delaware, EMAsphere, EXTHAND, KPD, Norriq and RealDolmen are embracing the digitalization of finance and accounting through Isabel Connect. More partners will come on board in the next months.
Isabel Group recently also introduced Ponto, a multi-banking aggregation API. Isabel Connect and Ponto are complementary to each other: Isabel Connect uses bank connectivity via the Isabel 6 platform and comes with full-fledged approval workflows, rich account information, bulk payments and multi-step signing features, while Ponto builds on the PSD2 (Payment Services Directive 2) framework.