- About Us
- Contact Us
Macrotrends such as high inflation, global pandemic, multibanking connectivity network, digital acceleration, and payment modernization act as a catalyst within the financial services industry as banks attempt to grapple with new ways to enhance the customer experience across various sectors. That’s where banks and corporates seek connectivity solutions to connect to a broad network of banking partners without the complexity of managing multiple connections.
BHNet, ECS´s banking connectivity network, following the Multibank as a Service approach, enables your company direct, secure, and efficient access to your banking partners. We offer multiple services over one single channel while supporting the deployment of new ones to help you connect to the world. With improved connectivity, it has now become seamless for corporations to reach their banking partners more quickly and cost-effectively.
Technology is imperative in establishing bank connectivity with corporations so that treasury and financial systems can converse directly without any hassle. The solution must scale concerning the scope and volume of connections while managing the competency to interface with new ecosystems connected in the legacy environment via internet technology adjustments or bank acquisitions. Below shared are some common challenges with bank connectivity:
Corporations quest for a centralized connectivity solution that eliminates the complexity of using different bank portals. Many global firms operate with dozens of banks and companies, so eventually, they are obliged to manage hundreds or even, in some cases, thousands of bank accounts. We have observed that it takes an average of six months to complete the full integration cycle at the cost of between $100,000 and $300,000. Just consider this estimated calculation and multiply it by the number of banks that you want to build a connection with. You can imagine the effort and cost of any department when trying to do bank connectivity. This development has already been completed with BH Net, ECS Fin’s banking connectivity network, in implementing more secure and efficient processes.
At ECS Fin, we believe that all banking connections should be in the consolidated portal to monitor all the processing, statements, and reports. Simplify the connectivity while managing application development time and costs.