Easy4Cloud, Fabrick to Support Open Banking in Italy and Spain

Easy4Cloud, which conducts operations in Italy, the United Kingdom, Spain and the US, digitizing different business areas and simplifying their management, has selected Fabrick to expand its offer and introduce BancheinCloud, a Business Intelligence platform for the aggregated management of Current Accounts through which personal, family and corporate accounts may be linked to enhance administrative work.

The solution reportedly employs Fabrick Pass, which makes it possible to use the PSD2 APIs provided on the platform and to take advantage of the Account Information Service Provider (AISP) license available in ‘as a service’ mode, enabling access to the account information the client has consented to.

The passporting of the license acquired by Fabrick and the proprietary tech for multi-bank connectivity also allow the service to be introduced in the Spanish market; Fabrick, which operates globally to support open finance, is authorized to operate in 11 countries (Italy, Belgium, Germany, Spain, France, Greece, Hungary, the Netherlands, Poland, Portugal, and Slovenia).

BancheinCloud is developed for SMEs that aim to digitize and automate their management; the functions implemented enabled them to obtain key insights, set up reports and share information with third parties along with importing invoices, carrying out payment reconciliations and preparing first notes automatically.

Alberto Graziano, CEO of Easy4cloud, said:

“Open banking has started a real revolution in the financial world. Today we have the opportunity to transform the ‘banking movement’ into digital data available in real time; information that is useful for implementing new value-added services and designing new business processes. The digitisation of companies, especially small and medium-sized ones, is today the key to achieving efficiency and competitiveness”.

Paolo Zaccardi, Fabrick’s CEO, added:

“Leveraging the opportunities enabled by open finance, we support our customers in defining an innovative digital financial service offering, the partnership with Easy4cloud in particular is in response to the specific needs of companies for greater efficiency, through the accessibility and efficient visualization of all company accounts from a single touchpoint, the sharing of transactional information and the automatic reconciliation of invoices.”

Paolo added:

“Thanks to the passporting of our AISP licence, the project is operational in both the Italian and Spanish markets, demonstrating the opportunities our open-first model can offer. Fabrick on the one hand allows foreign operators to enter the Italian market, and on the other supports Italian companies to venture into new markets. Every day we work to expand the boundaries of Fabrick’s reach because we are aware that digital has broken down geographical barriers, amplifying market opportunities for all operators”.

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