The number of account transactions processed and reported in the Open Banking product NetEkstre in the first quarter of the year exceeded 6 million.
Finrota's Open Banking product, NetEkstre, continued to achieve high transaction rates in the first quarter of 2023. The number of transactions of NetEkstre, which operates under Finrota, increased by 32 percent compared to the same period last year, reaching 6 million.
NetEkstre, which provides the opportunity to easily manage different bank account transactions from a single screen, continues to be one of the most preferred Open Banking products. According to the financial data recorded in the first quarter of 2023, NetEkstre's total number of processed transactions increased by 32 percent compared to the same period last year, reaching 6 million. The number of companies integrated with NetEkstre increased by 22 percent. According to other data in the first three months of the year, it classified and reported more than 6 million account movements; The number of banks integrated into the system was 29, and the number of ERPs supported was 22.
The number of Posrapor companies is increasing The number of companies preferring Posrapor, the physical and virtual POS reporting system among Finrota's Open Banking services, is also increasing. Companies that are members of Posrapor can see the transactions of different banks and payment institutions in a common data format. Posrapor companies; It offers detailed reports containing many information such as amount, commission, number of installments, card program, maturity date. In addition to these, Posrapor; If work is blocked, it supports tracking date and amount information, thus managing cash flow. While a 52 percent growth was achieved in the number of companies in Posrapor in the first quarter of 2023, the number of banks integrated into the system increased to 15. The amount of invoices sent to collection with the E-DBS product was 1.3 billion TL E-DBS (Electronic Direct Debiting System), the cash management system that provides financial benefits to companies with the solutions it offers, started 2023 with a successful performance. E-DBS system helps companies with a wide dealer or customer network to automatically collect invoices for their goods and services sales. Companies benefiting from E-DBS, which offers the opportunity to manage all direct debit system transactions in different banks from a single panel, can create instructions for the collection of their invoices and track their limits. According to the data in the first quarter of 2023, the amount of invoices sent to collection with the E-DBS product increased by 208 percent compared to the same period of the previous year and reached 1.3 billion TL. While the number of companies using the E-DBS product increased by 77 percent, the number of banks integrated into the system reached 23.
TÖS product adds efficiency to transfer processes TÖS (Collective Payment System), one of Finrota's fast-growing products, adds efficiency to transfer processes. With TÖS, it is possible to carry out bulk money transfer transactions, cash transfers such as EFT, Money Order, SWIFT, Import payment to more than one bank and account at a time. Working integrated with 11 banks, the TÖS product helps finance and accounting employees and managers manage their banking and payment-collection processes from a single portal, without the need to use different tools. TÖS, which makes the lives of companies easier with its many innovative features, continues to add value to the fintech sector.
Finrota General Manager İlknur Uzunoğlu: “Open Banking has become one of the rising trends of the fintech ecosystem.” Stating that they offer solutions to companies regarding bank account information, account transactions and reporting with NetEkstre, Finrota General Manager İlknur Uzunoğlu said: "Open Banking, which offers many advantages by moving banking processes to the digital world, has become one of the rising trends of the fintech ecosystem in recent years. Open Banking, which has created a transformation in financial life, will be talked about more starting from 2023. With the Open Banking licensing process, which is one of our most important agendas, our sector will reach the standards it needs. We contribute to the development of the sector by taking a leading role in the Open Banking market with our NetEkstre product. We are contributing to the development of the sector in 2023. "While we are satisfied with the performance we achieved in the first quarter, we will further expand our targets in the coming months. We will contribute to the spread of Open Banking financial technology services with new projects, products and advantageous offers."
