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Industry roundup: 21 May

Revolut Business adds Clear Books

Revolut has announced the product integration of Clear Books to the Revolut Business Connect ecosystem. Clear Books provides online accounting software for small businesses, contractors, freelancers and sole traders. It lets users create and send invoices, track bills and expenses, and create reports and tax returns.

Through the new integration, Clear Books lets Revolut Business users match transactions with invoices or bills. The accounting software's secure bank feeds integrate with Revolut to update up to four times daily with the most recent transactions. Businesses can match these to sales and purchases to see a complete picture of their finances. Clear Books also creates automatic matching rules as the business reconciles. This allows the user to match repeating transactions in one click.

When a business sets up a bank feed between its Revolut account and Clear Books, the dashboard shows business-critical information such as outstanding bills and overdue invoices. All financial data is also automatically compiled into reports including a P&L, Balance Sheet, Aged Debtors and Creditors, as well as HMRC recognised MTD VAT returns.

 

FIS app offers 'on the go' business management

As merchants around the world grapple with the impact of COVID-19 on their operations, financial services technology firm FIS has launched iQ Now, a mobile app for Worldpay from FIS’s merchant customers that are small- and medium-sized businesses (SMBs), which delivers actionable insights into the health of the business.

Available for Apple and Android devices, the Worldpay iQ Now app enables business owners to monitor performance on the go from their mobile devices. The app integrates data from banks and third-party financial institutions to provide SMBs a holistic view of key performance metrics about their business, from sales and cash flow to refund and dispute activity.

FIS says that iQ Now is designed to maximise ease-of-use and self-service, featuring simple biometric-based login, push notifications, and all-in-one functionality. At-a-glance graphs and reports provide merchants with real-time views of their business performance. Click-and-point functionality allows them to drill down on key metrics such as average sale size and store productivity.

 

GlobalTrade selected for digitisation of bank guarantees and surety bonds

GlobalTrade Corporation has announced that PORR, a large Austrian construction company, has selected its @GlobalTrade multi-bank trade finance platform for managing its bank guarantees and surety bonds. PORR employees will use the Platform to access transactions on-line from any place in the world and electronically connect PORR Treasury with its financial institutions.

PORR will manage outgoing transactions with the @GlobalTrade Guarantee Issuance System and incoming transactions with @GlobalTrade Guarantee Receipt System.

 

Trade finance fintech CCRManager closes of latest funding round

CCRManager, a global fintech platform supported by the Monetary Authority of Singapore  (MAS) has announced that it has closed its latest funding round. It has also welcomed a  new investor, Curzon Investment, to its group of backers.

Launched in 2017, CCRManager aims to accelerate digitalisation in the trade finance industry by providing a secure enterprise platform to facilitate the distribution of trade assets in the inter-bank or secondary trade finance market. Over 100 global financial institutions and non-bank financial institutions across 35 countries are members of CCRManager.

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