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Archive for tag: FinTP

FinOps Suite Building Blocks

 

 

 

Having FinTP as a starting point, FinOps Suite (our SMEs & corporate treasury open-source software solution) follows the same high-level architecture, but features a new user interface and reworked functionalities and workflows.

 

As its tagline suggests (Making financial operations easy), FinOps Suite is aimed to automate a company’s processes and flows in treasury departments.

 

It is positioned in the center of financial flows within a company, integrating core systems that process financial transactions (Human Resources Application, ERP, EDI, Accounting) and applications connecting to banks, either directly (Internet Banking / Cash Management application) or via market infrastructures such as SWIFT or local CSMs.

 

 

FinOps Suite Key Benefits


  • Consolidation of all corporation/group financial transactions
  • Streamlining operations by:
    • integrating payments from other applications
    • flow automation
    • automatic generation of consolidated reports
    • risk containment of duplicate or invalid payments
  • Reducing fraud-related risks in connection with bank interface access
  • Generating reports and company relevant statistics
  • Reconciliation between payments and bank statements and/or invoices

 

 

Product Features


All custom FinOps Suite configurations / deployments are made up of the following mandatory features:

  • Administration
    • Users and Rights
    • Application Management and configuration (including routing logic, parameters, alerts, validations)
    • Business Management configuration of various lists (partner banks, entities and accounts, partners and accounts, black lists and so on)
  • Application Interfaces – external interfaces to other applications, for importing / sending financial transactions in various structured formats
    • Payments from Back-Office
    • Bank Statements
    • Invoices from Back-Office
  • Transactions Processing
    • Create/Edit Transactions (including enriching them based on the lists defined in FinOps Suite)
    • Transaction Templates
  • Reporting – predefined or customized reports based on persistent data stored in FinOps Suite
  • Audit Trails – ensure the basis for tracking workflows and exceptions or recording user actions within the application, necessary for performing investigations for exceptions or consistency checks
  • Archiving – automates the export of processed data from FinOps Suite into backups (external files), based on criteria specific for each workflow

 

While optional, Reconciliation is a highly sought feature, providing support for automatic or manual matching between two sources of data.

 

 

 

*FinOps Suite is the business name of the software solution being developed within our Treasure Open Source Software (TOSS) project. This project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 "Information and Communications Technology (ICT) for a competitive digital economy".

 

 

 


Sibos Day One: Find what we have in mind for this Sibos

Stand 2

 

The most important people in the financial world gathered this days in the ‘Capital of Peace’ –Geneva, for the biggest event in the industry, Sibos. Geneva is attracting increasing numbers of startups and SMEs and it is home to around 200 multi-national corporations.

 

It is the 9th year in a row Allevo is exhibiting at this world class event. We are excited to be here and see our peers and partners and to meet new people from the financial ecosystem. It always is exciting to be at Sibos when it’s in Europe. So many meetings, so many relevant people, much easier logistics. The exhibition floor looks half the size of that of last year, but all vendors are still there. Less walking, happier participants. So far, about 8000 people were reported to have joined this year’s Sibos.

 

At this year’s edition of Sibos, we are focusing on FinTP, our solution for processing financial transactions, and banking on open source technologies. Allevo is a promoter of open source technologies in the banking industry and in the last couple of years it attracted new customers. Open source technologies allow a greater level of flexibility and transparency at infrastructure level.

 

Stand 1

We would also like to share our vision regarding the trendsetter bank that we see as a reference for the entire FinTech ecosystem. It is agile and flexible enough to quickly integrate new technologies, it has completely automated its internal workflows and it is trusted because it is regulated. It prefers open source technologies and provides holistic solutions to its customers, with state of the art services. But more about this we are going to share with the participants on Wednesday, September 28, starting 15:30, at the Open Theatre 1 session.


Today we kick started a contest for all lovers of geek watches. All our visitors participate in Wednesday’s lucky draw. On Wednesday we are hosting a Romanian wine tasting event, starting 16:00, where we are going to serve a great variety of Romanian wines and some snacks. It will be a good time, accompanied by a few glasses of good wine and lots of good vibes. During this event we will announce the winner of the contest by extracting a business card. Good luck!

 

Echipa 1

 

With day one in the past, we are looking forward to find out more from peers at Sibos over the next couple of days.

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