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Home»Fintech»Business payment network Denario goes live
Fintech

Business payment network Denario goes live

June 28, 2022No Comments3 Mins Read
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Cion Digital names Sundar Nagarathnam COO
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Denario, the fee platform SMEs, not too long ago raised €1.8 million in seed capital and is now launching a brand new product that may allow European corporations to pay one another straight with out the necessity to log into their checking account.

“With Denario, companies pays a number of invoices directly and can solely pay after they need to. This prevents money constrained companies from paying too early, or too late and thereby optimises working capital with out the necessity to examine every bill individually.” says Pohlmann, Co-founder and CEO of Denario.

The Slack of enterprise fee
Slack was designed as a messaging platform and was particularly developed for the office to permit for a novel expertise when speaking with colleagues. “The identical means that Slack is the brand new method to talk within the office, Denario will turn out to be the brand new method to pay your small business companions straight with none middleman.” says Pohlmann.

Based on the corporate, the creation of a brand new enterprise fee community would particularly profit small companies with much less automated processes and important administrative overhead. “Our imaginative and prescient is to allow a seamless move of cash in a safe community that helps small companies to realize actionable perception into their money place whereas additionally eradicating pricey intermediaries and guide fee processes”, says Pohlmann.

Fee superpowers for any checking account
The aftermath of the monetary disaster of 2008 triggered many conventional monetary establishments to “unbundle” their companies corresponding to SME lending or commerce finance lending. The brand new fragmented construction of banking companies led to a wave of economic innovation within the following years. After realizing the potential within the particular person companies, the key gamers strove to “rebundle” them of their choices once more, turning into extra progressive themselves. In the case of enterprise funds, now we have seen restricted unbundling, which is why innovation on this space has largely been absent.

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“Funds may be seen because the bloodstream of our financial system and due to this fact have turn out to be a commodity in each conventional and fashionable enterprise banking. Due to this fact, there was much less innovation and enchancment in fee processing for SMEs than in lots of different areas.” says Pohlmann.

Denario goals to convey innovation to enterprise funds with out changing present banking infrastructure. Any checking account may be linked to the Denario system to create a brand new fee expertise from receiving, to scheduling and processing, to fee reconciliation.

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