BankiFi announces the launch of its new Open Cash Management platform

BankiFi announces the launch of its new Open Cash Management platform

By Joy Dumasia


  • BankiFi
  • Finance management
  • Integrated banking services

BankiFi has announced the launch of its Open Cash Management platform. This innovative new service gives customers access to many modern solutions, thus facilitating the financial management of the company. The new Open Cash Management platform provides a fully integrated banking service to BankiFi customers. Developed with larger, more established small and medium-sized enterprises (SMEs) in mind, the platform enables customers to manage:

  • Billing
  • Payments
  • collections
  • Accounting
  • Cash forecast
  • Working Capital Optimization Overview

The Open Cash Management platform represents a “supercharged” version of BankiFi’s existing service. Designed with speed and compliance in mind, the platform combines the benefits of integrated banking and open banking into a single accessible and efficient solution. As such, the new service can help banks put their brand and the associated digital channel at the heart of all business customer relationships, whether or not that customer has an account with the bank.

Marijke Koninckx, product manager at BankiFi, commented, “The Open Cash Management platform is a great business banking app. With Open Cash Management, banks can offer their small business customers a comprehensive, integrated banking service built around Procure to Pay and Order to Cash workflows. Instead of offering a banking channel for simple tasks, such as checking account balances and making payments, banks can instead offer a rich and comprehensive service to their SMBs centered around the brand and digital channel of a bank.

The Open Cash Management platform has other unique selling points, making it well suited to the demands and rigors of modern business activity. In particular, the new solution does not require any technological integration. It uses a suite of pre-existing bank connectors in multiple geographies, allowing it to be integrated efficiently by banks. Likewise, the platform can run alongside existing accounting packages without causing disruption.

Significantly, BankiFi’s Open Cash Management platform enables banks to launch a highly relevant service for their customers more cost-effectively than they could on their own. The platform can help banking companies harness the benefits of integrated banking and open banking trends. In doing so, the solution can help banks accelerate the long-awaited internal modernization process.

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