Europe-based Open Banking service provider LUXHUB has announced that CSoftware has successfully integrated several of its Account Information and Payment Initiation Services into its operations, according to IT Nation. This move by CSoftware is part of its ongoing commitment to support clients in their digital transformation, as it adds financial data aggregation and payment modules to its FERA platform.

The FERA platform, one of CSoftware's flagship products, is a comprehensive business management tool designed to assist the growth and development of small and medium-sized enterprises (SMEs), craftsmen, and independent workers. As a certified ‘Fit4Digital’ Luxinnovation company, CSoftware's FERA experts are reportedly well-equipped to help clients implement SME Packages effectively. FERA offers a range of functionalities, including business management, invoicing, expenses management, automated workflows, document and project management, CRM, and timesheets.

Its goal is to facilitate efficient digital transformation for customers while providing a proven business management tool with a comprehensive view of time. FERA's features reportedly make it suitable for all industries and accessible through the web, smartphone, or tablet. FERA's value proposition is supposedly strengthened by integrating LUXHUB's Account Information Services (AIS) and Payment Initiation Services (PIS) modules.

The addition of these modules offers customers banking account information and payment initiation services. What do CSoftware and LUXHUB think of the partnership? According to the CEO of CSoftware, these new features enable clients to save time, consolidate financial data, and gain a real-time view of their business's health. The integration reportedly simplifies processes and improves flexibility in daily operations.

The CEO continued to say that this development aligns with the Open Banking era and CSoftware's vision of providing entrepreneurs with flexible, secure, and user-friendly solutions. The goal is to provide entrepreneurs with an easy-to-use tool that efficiently drives their business and offers a consolidated view of their processes and operations. This integration positions FERA as the first business-enabling digital platform to leverage LUXHUB's Account Information and Payment Initiation services.

According to CSoftware’s Product Owner and Business Manager, by incorporating services like those provided by LUXHUB, FERA continuously improves its overall value and strives to better support its clients. LUXHUB's AIS licence enables FERA customers to directly access their bank account information, including details, balances, and transactions, if they have full access to their account with a bank connected to LUXHUB's ONE platform. Additionally, LUXHUB's PIS licence allows FERA users to initiate payments through any of the banks connected to the ONE platform, thanks to a reportedly simple integration process.

Ramzi Dziri, Head of Product at LUXHUB, explains that the combination of account aggregation and payment initiation services provides customers with better experiences, supporting SMEs and other businesses in their management endeavours. The Sales Manager at LUXHUB expresses pride in onboarding CSoftware and making the AIS and PIS solutions available within the proven FERA platform. This partnership enables the deployment of innovative solutions that offer customers benefits and opportunities associated with Open Banking, including improved security, ease of use, and flexibility, IT Notion concluded.

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