Solutions Charlieindia - SME Banking Conference

PartnerHUB for Banks

PartnerHUB enables banks and financial service providers to orchestrate/participate in open finance and open data ecosystems by integrating financial services and e-invoicing.

PartnerHUB provides a white-label solution to set up services for integrating e-invoicing and financial services and access to invoice data and data management capabilities to utilize the value in invoice data as a way for banks to participate in open finance and open data ecosystems. Our solution is a low-code/no-code invoicing technology, from which custom solutions can be built. We have also pre-fabricated packages for MVPs, with which the bank can start to work.

Our supported use cases:

Business Finance Assistant: SME banking incorporating digital invoice management

Our solution offers a full white label white-label invoicing solution for SMEs, which can be integrated into online and mobile banking channels. The solutions consist of the following features:

Invoice inbox and invoice repository
Business processes for invoice approval and payment
Integration layer for the 3^rd party invoicing service providers and the bank. SMEs can use multiple invoicing solutions, so if the SME wants to see all its invoices in one place, or the bank provides invoicing in partnership with 3^rd party providers, then this integration layer will be necessary.
Online invoicing solution to issue invoices from the bank’s system, with local e-invoicing compliance and tax authority connectivity
Data transformation of the invoice data into the payment request data structure
1-click payments
Reconciliation engine for automatic reconciliation
Custom financial dashboard
Low-code integrations with 3^rd party compliance

Onboarding corporate customers into request-to-pay using invoice data

For corporate customers, the biggest pain is the automation of transaction reconciliation between invoice and payment (and/or payment request data). Corporates have their ERPs and generate invoices themselves. With our solution integrating e-invoicing and request-to-pay a new generation of EBPP (electronic bill presentment and payment) solutions can be offered to corporate customers, who are large invoice issuers. This service can be a substitute for the direct debit service with enhanced invoice presentment and payment features. Besides, the integration of e-invoicing and request-to-pay solves the 100% automatic data reconciliation of invoices, payment requests, and payments.

Next-generation electronic bill presentment and payment (EBPP) services for retail customers

Our solution provides the backend technology for electronic bill presentment and payment. For retail customers, the invoice is an accompanying document for the payment and is important for warranties regarding the goods bought. The other reason it is important for banks is that it has detailed information about the consumption of goods/services, such as utilities, which provides important insights into the spending patterns of the customer both for the customer and the bank. For the retail customer, it is very convenient to store all invoices in the bank because it is a safe place to store all invoices and can be retrieved in case it is needed for warranty purposes. If the customer has invoice data in the system, it is easy to provide the invoice document also for loan approval for BNPL or consumer loans for high-value goods. As mentioned above, invoice data is an important data source for banks having access to retail customer invoice data increases the quality of the data used in the PFM applications and ensures a more in-depth insight into the customer’s consumption habits.

+1: technical layer for managing invoice data

If the bank does not want to become an e-invoicing service provider itself but wants to get access to and use digital invoice data to digitalize its payments or financing processes, it should have the following capabilities:

Working with structured e-invoice data
Standardizing invoice data structures
Processing various invoice formats
Working with invoice data from 3rd party data sources, integration capabilities

This can be a value proposition for all banks, who will partner with 3^rd party invoicing software providers, but to get value from such partnership, they should get digitalized and utilize invoice data to digitalize their processes and use invoice data for cash-flow and risk models.

USP/market differentiation:

PartnerHUB’s solution is the only white-label and customizable solution with a low-code approach that is specifically designed for banks to provide value-added services for digital invoice management.
Shortest time-to-market, within weeks an MVP can be launched with the default feature set, supports rapid prototyping
Easy to set up and maintain and resource and cost-effective being a low-code technology, compared to in-house/3rd party developed solution 70-80% cost and time savings can be achieved.