Until now companies had to make a considerable effort to maintain an overview of their liquidity across several accounts held at different banks, in different currencies. Furthermore, due to their complexity and high costs, multi-banking solutions were only available to large companies.

In collaboration with Contovista and Swisscom, Valiant now offers a solution which will gradually be rolled out to all business customers from autumn onwards. Using the multibanking module — an extension of Contovista’s Business Finance Manager (BFM) — it will be possible to link third party accounts in e-banking, providing an overview of all connected bank accounts. In this way, SMEs can manage their liquidity across all connected accounts in a user-friendly way via a central financial cockpit.
Valiant is taking a pioneering role in the Swiss finance industry

This innovative approach makes it possible for the first time in Switzerland to directly manage liquidity through a single, central bank access point. In addition to the aggregation of accounts held by the company with other banks, they will also be able to make quick and easy transfers between these accounts. In this way SMEs can have an overview of all bank accounts through one bank access point and can manage their liquidity including financial projections. This will significantly decrease workload for managing and controlling a SME by increasing efficiency in day-to-day operations.

This is made possible by the use of an open standard, which is usually used to link the bank account to an accounting system. In the case of Valiant, the Swisscom’s EBICS as a Service is used to exchange data with third-party complying with the highest security standards.