The number of account transactions in the Open Banking product NetEkstre reached 7 million in the second quarter of the year
Finrota's Open Banking product NetEkstre experienced high transaction volume in the second quarter of 2023. NetEkstre's number of transactions increased by 27 percent compared to the same period last year, reaching approximately 7 million.
NetEkstre, which offers the opportunity to manage different bank transactions on a single screen, continues to be one of the most preferred Open Banking products. According to the financial data recorded in the second quarter of 2023, NetEkstre's total number of transactions increased by 27 percent compared to the same period last year, approaching 7 million. The number of integrated companies also increased by 18 percent. According to other data in the second three months of the year, NetEkstre classified and reported nearly 7 million account transactions; The number of banks integrated into the system was 29, and the number of ERPs supported was 20.
In addition to the many advantages it brings, open banking provides convenience in business process management of different business lines. In the second quarter of 2023, the "construction" sector was among the business lines that most preferred Finrota's Open Banking products. The first five sectors in the ranking were construction, automotive, textile, food and hardware.
Posrapor's number of companies continues to increase in the second quarter
The number of companies choosing Posrapor, the reporting system among Finrota's Open Banking services, continued to increase in the second quarter of 2023. Companies that are members of Posrapor can easily monitor the transactions of different banks and payment institutions in the common database. Offering detailed reporting opportunities, Posrapor also helps manage cash flow by tracking blocked employee date and amount information. While a 52 percent growth was achieved in the number of Posrapor companies in the second quarter of 2023, the number of card transactions processed and reported in Posrapor exceeded 3 million. The number of banks integrated into the system is 15.
The amount of invoices sent to collection with the E-DBS product increased by 1.4 billion TL
E-DBS (Electronic Direct Debit System), the cash management system that provides financial advantages to companies, also showed successful performance in the second quarter of 2023. Companies with a wide customer network or dealers ensure that invoice collections are made automatically for goods and services sales made with the E-DBS system. Companies benefiting from E-DBS, which offers the opportunity to manage transactions in different banks from a single panel with a direct debit system, can create instructions for the collection of their invoices and track their limits. In the second quarter of 2023, the amount of invoices sent to collection with the E-DBS product increased by 178 percent compared to the same period of the previous year, reaching 1.4 billion TL. The number of companies using the E-DBS product increased by 47 percent.
TÖS product offers advantageous working opportunities in transfer processes
TÖS (Collective Payment System), one of Finrota's fastest growing products, also continued to grow, increasing its transfer volume fourfold compared to the previous month. With TÖS, which offers advantageous working opportunities in transfer processes, many transactions such as bulk money transfers, EFT, Money Order, SWIFT, Import payments can be easily carried out. Working integrated with banks, TÖS provides the opportunity to manage all transactions through a single portal, without the need for finance and accounting employees and managers to turn to different tools. Adding value to the Fintech sector, TÖS continues to make the lives of companies easier with its innovative features.
Finrota General Manager İlknur Uzunoğlu: “The Open Banking system has been on the rise, especially in recent years, by contributing and facilitating the financial lives of companies and individuals.”
Our Open Banking product, NetEkstre, enables all bank account transactions to be easily managed from a single screen and account information to be consolidated. We provide services to many companies and make their lives easier with the solutions we have developed regarding bank account information, account transactions and reporting. NetEkstre, which makes it possible to display all account movements and transfer them online to ERP/accounting systems and thus monitor bank account movements instantly from a single panel, continued its growth in the second quarter of the year. In the future, we will continue to chart the path of more users and business partners in financial technology by expanding the services we provide in our Open Banking products.
