OpenTrade’s Post

The future will be built on internet-native, composable, permissionless financial infrastructure like Perimeter. When I worked with large banks, integrations were a 6-18 month exercise that could cost millions of dollars. With open source protocols like perimeter and associated tooling, our integrations are taking a single developer a few days. The value in that alone is very underestimated.

🖥 💰Why Embedded Savings? 💰 🖥 🏦 As explained effectively in this great Treasury Prime article, embedded finance technology provides software to banks, enabling them to easily run and manage embedded finance programs. 🌉 Sync's embedded savings act as a 'software bridge' so that banks can build better products to enhance customer experiences by offering seamless financial solutions in tandem with other services. 💡💰 Embedded saving options are a convenient and accessible way for customers to save. They are what we, at Sync, believe to be an effective solution to the UK's massive financial resilience deficit💰💡 https://lnkd.in/dEqTtmSC

Simplifying Bank Reconciliation in Fintech: A 2024 Perspective As fintech continues to evolve in 2024, the process of bank reconciliation is becoming increasingly streamlined and efficient. Bank reconciliation, the practice of ensuring that financial records match those of a bank, is crucial for accurate financial reporting and cash flow management. Here’s how fintech innovations are simplifying this process. 1. Automated Reconciling Tools Fintech solutions are leveraging automation to enhance the reconciliation process. Automated tools can readily scan transactions, categorize them, and match bank statements with accounting records. This reduces the time accountants spend on manual entry and minimizes human error, allowing businesses to focus on strategic planning rather than tedious reconciliations. 2. Real-Time Data Synchronization Many fintech platforms now offer real-time synchronization between bank accounts and accounting systems. This means that businesses can access up-to-the-minute transaction data, enabling them to identify discrepancies almost immediately. Real-time data bridges the gap between accounting and banking, fostering quick resolutions to potential issues. 3. AI-Powered Insights Artificial intelligence is making significant strides in enhancing reconciliation accuracy. AI can analyze patterns in transaction data, flag inconsistencies, and provide insights into financial behavior. In 2024, businesses leveraging AI can expect deeper insights into their financial operations, helping them make informed decisions based on real-time data. 4. User-Friendly Interfaces Modern fintech applications prioritize user experience, offering intuitive interfaces that make bank reconciliation accessible even to those with limited accounting knowledge. These platforms often include guided reconciliation processes, step-by-step notifications, and visual dashboards, making it easier for users to track their financial health. 5. Integration with Other Financial Tools Fintech solutions are increasingly designed to integrate seamlessly with other financial tools, such as invoicing and expense management systems. This interconnectedness allows for smooth data flow between different platforms, reducing the likelihood of reconciliation errors and streamlining overall financial management. . . . #Raidicalpay #Fintechcompany #startupcompany #fintech2024

The Future of Finance: DeFi Staking, Restaking, and Pools with XBANKING INTRODUCTION Decentralized Finance (DeFi) is revolutionizing the financial world, offering unprecedented opportunities for individuals to manage their finances without relying on traditional financial institutions. XBANKING stands at the forefront of this financial revolution, providing users with cutting-edge tools and services to maximize their DeFi potential. In this article, we delve into the intricacies of DeFi staking, restaking, and pools, and how XBANKING is enhancing these financial mechanisms for its users. Understanding DeFi Staking XBANKING simplifies the staking process, offering a user-friendly platform where users can stake their assets with ease. With XBANKING, even those new to the DeFi space can participate in staking without the need for deep technical knowledge. The platform ensures secure and efficient staking, maximizing the potential returns for its users. The Evolution: Restaking XBANKING offers innovative restaking strategies that optimize asset utilization and enhance returns. By automating the restaking process, XBANKING allows users to benefit from compounding without needing to constantly manage their investments. This approach ensures that users can fully capitalize on their staked assets with minimal effort. Diving into DeFi Pools XBANKING’s platform offers a range of diverse and high-yield liquidity pools. By participating in these pools, users can earn attractive returns while contributing to the overall liquidity of the DeFi market. XBANKING ensures high liquidity and offers various pool options to cater to different risk appetites and investment strategies. Explore the future of finance with XBANKING and start maximizing your DeFi potential today For more informations about us, Website: https://xbanking.org , X: https://x.com/xbanking_org , Telegram: https://t.me/xbanking

In 2024, banks are expected to increase their volumes of supply-chain finance assets significantly. This strategic shift will respond to the evolving global trade-finance landscape, which is moving away from traditional documentary credit methods towards greater reliance on open-account trading While traditional letters of credit (LCs) and guarantees have witnessed flat growth, the shift toward open-account trade and supply-chain finance is accelerating. Open-account trade accounts for approximately 80 percent of all international trade, according to the Wolfsberg Group, the International Chamber of Commerce (ICC) and BAFT (Bankers Association for Finance and Trade However, this shift also brings new challenges, particularly in operational efficiency and risk management. To address these, banks are investing in advanced technology platforms to enhance user experiences, enable new products and ultimately increase revenues. Key developments in this area include the implementation of digital portals and onboarding platforms featuring straight-through processing. These technologies are vital for reducing the risks of fraud and errors inherent in open-account finance systems. By leveraging these technological advancements, banks aim to maintain profitability in trade finance and navigate the complex landscape of modern financial transactions. Fintech partnerships in trade finance will continue to expand. The 2024 forecast anticipates a significant increase in partnerships between banks and fintech (financial technology) companies. These partnerships are crucial for replacing outdated legacy systems, improving customer experiences and speeding up new-product development. Global trade-bank leaders continue to emphasise “trade transformation” projects as integral elements of their future strategies. In India, innovative fintechs such as CashFlo, CredAble, FinAGG, Vayana and Veefin Solutions are revolutionising supply-chain financing. These companies are at the forefront of creating solutions in AP (accounts payable) automation, working-capital technology platforms and comprehensive supply-chain finance technologies. Technology-enabled businesses are integrating financial services into their sales strategies and opening new financing avenues across different sectors. This innovation requires strong partnerships between fintechs and traditional banks and active involvement with the broader financial market to offer services effectively. Fintechs are already partnering with key players in the financial ecosystem, significantly contributing to the growing market demand. Their collaborative efforts are leading to the rapid adoption of new technologies in the financial sector, particularly in emerging markets (EMs) such as India, where the absence of legacy systems facilitates faster integration of innovative solutions. Beyond market expansion, these partnerships enhance businesses’ financial performances and stability, especially during economic uncertainty.

Treasury software transforms bank account management by streamlining processes, enhancing security, and optimizing cash flow, empowering businesses to achieve greater efficiency and financial control. 🌟 Centralized Insights: Gain real-time visibility into all your accounts with a single dashboard, ensuring seamless financial oversight. - 🤖 Automate Efficiency: Save time and reduce errors with automated reconciliation, transaction tracking, and cash flow optimization tools. - 🔒 Secure Your Assets: Protect sensitive data with multi-factor authentication, role-based permissions, and advanced fraud detection features. - 📊 Drive Strategic Growth: Leverage powerful analytics to identify trends, cut costs, and make informed decisions for long-term success. 💡 Ready to simplify your financial management? Explore how treasury software can revolutionize your business operations today! https://lnkd.in/gKDhzYXY

The embedded finance market is expanding rapidly as customers seek seamless financial solutions embedded within their favorite platforms. This shift opens new revenue streams and possibilities for banks and nonbanks alike. See our latest insights to explore strategies for the embedded finance future. https://bit.ly/3OjQMx0 #embeddedfinance #finance #financialservices #banking #fintech #banks

In this gripping interview, Yoseph West, Co-founder and CEO of Relay discusses the transformative potential of fintech in streamlining financial operations for small businesses with the Global FinTech Series. "Why should small business owners expect any less innovation from the money management tools they use for their own banking? SMBs deserve a banking platform that works as hard as they do. This is where I see the shift taking place." He emphasizes Relay's mission to offer integrated banking solutions that simplify cash flow management and enhance financial clarity. West also highlights the importance of automation and real-time financial data, aiming to empower businesses with better decision-making tools. By integrating banking services directly into accounting software, Relay is poised to revolutionize the way businesses manage their finances, making financial processes more efficient and transparent. https://shorturl.at/BG5uU #Fintech #SmallBusiness #FinancialInnovation #Automation #BankingIntegration #CashFlowManagement #RealTimeData

Account Aggregators(AAs) are positioned to unlock the next leg of innovation that transforms finance in India. Financial services providers like Banks, NBFCs, Asset management companies (AMCs), Funds managers and Distributors stand to gain the most. However, applying Account Aggregators to improve decision making tools and lower costs of services is a huge challenge in itself. Take for example bank statements, they are one of the most sought after dataset for a financial provider looking to service their customer well. While AAs make this possible, bank statement analysers (BSA) are by no means an easy build. Many easy looking problems can take us into a dark-web of counter-productive analysis. You’d expect that every bank would report the same transaction with same narration, however in practice, narrations vary across banks for the same transaction, especially with all the payment modes involved. Add to that the complexity of UPI - related narrations that plague our bank statements. These transactions are to street food vendors, shopping, groceries, pan/cig stalls, booze shops, p2p and other day-to-day scenarios, making it near impossible to classify with precision into any meaningful buckets for analytics. There are playbooks which have been exploited to bucket transactions considerably well by using a combination of bank statements and other datasets or tools. Today’s BSAs can help determine user’s incomes, loan obligations, investments and specific types of expenditures, providing insights to certain problems better than other problems. Knowing which problems to tackle and which to avoid have been a big learning for us over the last few years. Banks and NBFCs can use BSAs to provide both credit solutioning and personal financial management products with cheaper costs at their scale. Other entity’s like AMCs, fund managers and distributors can use BSAs in combination with asset holding statements provided by their users, so as to enrich an investment advisory experience like never before. Finsire along with the industry continues to tackle some of these problem sets related to an ideal Asset Gateway technology, so as to bring innovative AA powered solutions for data science and credit applications.

💯Let’s be real—bank reconciliations are a pain! Manual processes often lead to mistakes, wasted hours, and frustrating discrepancies. That's where bank reconciliation automation comes into play Studies show that automated reconciliation can reduce errors by up to 90% and improve financial statement accuracy by 25%. Imagine the time and effort you could save by letting technology handle the grunt work, while you focus on what truly matters—growing your business. 📊Want to dive deeper into the stats and learn how automation is transforming financial accuracy? Head over to my blog for a full breakdown: https://lnkd.in/gbSp5znv #FinancialAccuracy #Automation #FinTech #BankReconciliation #DataAnalytics #Efficiency #FinanceSimplified