Facit Bank is set to implement open banking solutions into its invoicing and payment systems through a new partnership with Neonomics.
By leveraging Neonomics’ payment services, Facit Bank hopes to streamline transactions, offering customers more convenience when paying invoices and scheduling payments, while also reducing late payments and fees, according to FF News.
Through the partnership, Facit Bank will implement Neonomics’ open banking Checkout, allowing its customers to make direct payments from their bank accounts. This integration aims to create a more streamlined invoicing and payment process for users.
Additionally, Facit Bank will offer customers a “Pay Date” feature, enabling them to schedule invoice payments in advance.
This feature not only reduces the likelihood of late payments but also offers greater convenience and security.
To facilitate mobile payments, Facit Bank will integrate Neonomics’ payment solutions via Link Mobility’s Mobile Invoice, adding further ease to the payment process. This move is expected to generate savings on every transaction, benefiting both customers and the bank.
Facit Bank operates as a digital-only bank, specialising in offering highly competitive loan rates, deposits, and consumer loans for private individuals. Its digital-first approach allows the bank to deliver efficient, fully digital services to customers and partners.
Neonomics, on the other hand, is a Norway-based company that specialises in providing open banking solutions. The firm focuses on enabling secure, direct transactions from bank accounts, offering a suite of payment services designed to simplify financial processes and improve customer experiences.
Facit Bank’s CEO, Christer Nilsson, commented on the partnership, “Being a digital-only bank, we’re continuously seeking innovative solutions to deliver a great experience for our customers. By launching Neonomics highly cost-efficient payments services, through Link Mobility’s Mobile Invoice, we make it even easier for our consumers to pay while creating savings on every transaction.”
Neonomics CEO, Christoffer Andvig, added, “Facit Bank is a forward-thinking bank, and we’re pleased that they have chosen Neonomics as a partner to implement our Pay by Bank solution, which is designed to enhance the user experience for customers, making it more convenient to make and schedule payments when needed.”
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