The funds and finance platform Fintainium introduced Friday it was working with Visa so as to add real-time fee expertise to its suite of options.
The corporate mentioned in a information launch that this collaboration builds on Fintainium’s current partnership with CIT’s treasury and funds companies, and leverages CIT’s funds capabilities and the Fintainium cloud-based platform to assist small and medium-sized companies with improved workflow, fee execution and cash-flow help.
“The COVID-19 pandemic has shined a brand new gentle on the already robust development to digitize B2B accounting and funds,” the corporate mentioned in a information launch.
“Fintainium’s sturdy platform and end-to-end monetary workflow automation instruments present companies higher visibility into money stream, cut back administrative-accounting prices, and improve total transparency within the funds course of.”
With CIT’s assist, Fintainium will use Visa Direct, Visa’s real-time push platform, to deliver real-time capabilities to the Fintainium expertise stack.
The corporate says the collaboration will enable companies to maneuver cash in actual time, retailers to entry money stream every day and customers to get payouts from Visa debit playing cards.
“If you mix wealthy information with probably the most environment friendly rails to maneuver cash and information, worth is created,” mentioned Richard Jackman, CEO of Fintainium. “What we’re doing can’t be overstated.”
The corporate says its collaboration with CIT will allow them to lengthen Visa Direct-enabled instruments to current enterprise prospects and provide Fintainium’s resolution for B2B, B2C and authorities to enterprise funds, serving to them meet new calls for for altering fee wants.
Jackman spoke about this altering panorama in an interview with PYMNTS earlier this 12 months, arguing that along with automated processes, firms need to have the ability to present a seamless and holistic B2B funds expertise, each on the fee and receiving finish. It’s a objective that may be achieved, Jackman mentioned, by transferring past easy transactions.
“It’s not simply concerning the fee,” he informed PYMNTS. “It’s concerning the trade of knowledge and, in the end, enterprise relationship administration.”