In a globalised economy, international groups have to work with many different banks in various countries. Because the data exchange standards can vary from one bank to another, or from one jurisdiction to another, the reconciliation of information can quickly become a difficult task. "We developed our business model around the idea of facilitating exchanges between large international groups and banks around the world", explains Marc Binck, CTO and co-founder of B2Group. The company, founded in 2009, advises large commercial groups and banks on improving their transactional processes. "Our cloud platform, which includes all exchange standards, is a first-rate interface between different stakeholders", says Marc Binck.
B2Group has developed a digital platform that facilitates financial transactions between major international companies and banks across the world. To secure all transactions, the digital company has chosen to host its solution in EBRC's infrastructures.
Large and small amounts
The B2Group platform allows hundreds of international companies to easily make money transfers to many banks around the world and to place orders. "The platform, which reconciles the information regardless of the standardised formats used by the different stakeholders, improves the processing of the transfers. Among other benefits, customers enjoy greater and faster visibility and a better overview of their positions and situations", adds Marc Binck. Moreover, for banks, the solution simplifies customer onboarding.
"The bank can more easily adapt to customer needs. The platform can deal with a wide variety of amounts, from small payments of one or two euros in huge quantities, to transfers of several million pounds that occur more infrequently."
Convincing international stakeholders
As a key intermediate and given the amounts involved, B2Group has to ensure that orders are properly executed. "Given the sensitivity of the data and operations, it is essential for us to ensure the highest security and high availability of our services for our customers, says the CTO. In order to offer the necessary guarantees, we chose to host the cloud version of our solution with EBRC in Luxembourg. The quality of the infrastructure and expertise of EBRC's teams in the digital transformation of financial companies allow us to convince even the biggest international stakeholders."
Published in LG, November 2016
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