Today in FinTech: Zafin launches corporate banking tool, Sensibill partners with Royal Bank of Scotland

sensibill

This week, several FinTechs have made announcements launching new features and partnerships. Here’s the latest on company updates.

Zafin launches corporate banking tool

Zafin, which offers a platform to help banks manage their customer relationships, announced a new tool to help corporate and commercial banks manage prices and deal governance.

Client Offer Management was designed as a solution that would reduce operational costs by automating manual processes, while also decreasing IT spending. Specifically, it links pricing to required performance metrics.

“Fifteen years of domain expertise and collaboration with our clients and partners in digital banking has led to the development and addition of Client Offer Management to Zafin’s platform of products,” said Adam Nanjee, SVP of digital banking at Zafin. “We are proud to release another avenue for our corporate banking clients to drive more revenue, create operational efficiencies, and expedite digital deployments.”

Zafin believes that this product will work with legacy banking systems to automate and facilitate manual processes, expand revenue, reduce overhead costs for corporate banks, and speed up the process of developing client-centric offers.

“Zafin’s platform is trusted by several Tier 1 corporate banks to enhance revenue and service their clients effectively,” said Dinesh Krishnan, MD of Global Product Development. “With a tremendous amount of talent and collective financial technology experience on the team, Zafin has built Client Offer Management from the ground up to suit the needs of our corporate banking clients.”

Royal Bank of Scotland partners with Sensibill for digital receipt solutions

Royal Bank of Scotland announced its partnership with Sensibill, a Toronto-based company that provides receipt management solutions for financial institutions. Both companies see this partnership as a way to retain customers, while remaining competitive.

“It’s simple — if banks don’t service their customers’ needs, someone else will. Every time a customer uses a competing solution to solve their financial pain, customer loyalty erodes. This is especially relevant with open banking gaining momentum, and third-parties having access to customer information that was once in the bank’s custody,” said Corey Gross, CEO and co-founder at Sensibill. “There has never been a more critical time for banks to invest in their customers and invest in services that will retain them.”

This tool, which will officially be available in January 2018, will allow small business owners to scan receipts and manage data from those purchases straight from the RBS mobile banking app. In a statement, RBS and Sensibill say that they have already tested this project and that trials show 88 percent of small businesses rated the app as “good” or “very good.”

“No bank can expect to thrive without listening to the evolving needs of customers, and by partnering with Sensibill, we’re offering proactive help and best-in-class innovation for free – allowing small businesses to spend less time on admin, and more time on what they do best,” said Marcelino Castrillo, managing director of business banking at NatWest/Royal Bank of Scotland.

Aeman Ansari

Aeman Ansari

Aeman Ansari is a freelance writer who has been published in many Toronto-based publications, including Hazlitt and Torontoist. When she’s not re-watching Hitchcock movies, she’s working on her collection of short fiction inspired by stories from her grandmother, one of the few women in India to receive post-secondary education in English literature at the time.