In Europe, connectivity channels include the below main channelsĮBICS servers are designed to automate payments securely but require payments to be manually approved This iterative process created significant variability and complexity in those systems, reflected in the heterogeneity of their connectivity solutions for different use cases. Choosing between all the bank connectivity optionsīanks have strengthened their systems' reliability through years of iterations, keeping their customers’ funds secure and processing billions of payments yearly to power the economy. ![]() As a result, banks have built teams of cash managers that are distinct from teams of account managers.īecause account managers have large customer portfolios and need to liaise with different teams from within the bank, response turnaround can sometimes be longer than what product or engineering teams working on a sprint need to reach their velocity goals. The right stakeholders to do so is the cash manager.Ĭash management is one of the many lines of products and services that banks offer to their corporate customers. If not already done, the first thing to do before even getting access to the bank's documentation is to open an account, and subscribe to the bank's connectivity solutions. The challenges of building a bank integration Getting the right interlocutor and pace of communicationĪccessing banks' direct connectivity solutions is more complex than creating a self-serve account and obtaining your API keys. We also outline how Numeral can help accelerate bank integration projects, prepare companies for the future, and transform high upfront investment costs into predictable variable costs. This article shares our learnings on the challenges of building direct bank integrations. We now have a scalable process and a powerful bank integration engine that enables us to connect most banks to the platform in a fraction of the time it took to develop our first integration. This first-hand experience has enabled us to learn the specificities of every bank we have integrated with and refine our integration model over time. They can also be a significant de-focus on a roadmap already filled.Īt Numeral, we have built more than 10 bank integrations at Numeral over the last 12 months. ![]() The alternative is a direct integration with their banks that enables them to automate their payment operations from their in-house systems.Īlthough highly scalable and secure, banks’ direct connectivity solutions can be complex to understand and integrate, even for the most skilled product and engineering teams. Their bank's web app or vendor's cash management system introduce technical, functional, and scalability limitations. ![]() Companies building payment products or processing large volumes of payments as part of their operations often cannot rely on usual bank connectivity solutions.
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