New partnership to promote open finance in Europe

Easy4Cloud, which operates in Italy, the UK, Spain and the USA, digitising different business areas and simplifying their management, has chosen Fabrick to expand its offer and launch BancheinCloud, a Business Intelligence platform for the aggregated management of Current Accounts through which personal, family and corporate accounts can be linked to optimise administrative work.

„The solution employs Fabrick Pass, which makes it possible to use the PSD2 APIs published on the
platform and to take advantage of the Account Information Service Provider (AISP) licence available
in ‘as a service’ mode, allowing concrete access to the account information the user has consented to,” according to the press release.

The passporting of the licence obtained by Fabrick and the proprietary technology for multi-bank
connectivity also enable the service to be deployed in the Spanish market; Fabrick, which operates
internationally to promote open finance, is in fact authorised to operate in 11 countries (Italy, Belgium,
Germany, Spain, France, Greece, Hungary, the Netherlands, Poland, Portugal, and Slovenia).

BancheinCloud is designed for small and medium-sized enterprises that want to digitise and automate
their management; the functions implemented allow them to extract insights, set up reports and share
information with third parties as well as import invoices, carry out payment reconciliations and
compile first notes automatically.

Alberto Graziano, CEO of Easy4cloud: „Open banking has started a real revolution in the financial
world. Today we have the opportunity to transform the ‘banking movement’ into digital data available
in real time; information that is useful for implementing new value-added services and designing new
business processes. The digitisation of companies, especially small and medium-sized ones, is today
the key to achieving efficiency and competitiveness”.

Paolo Zaccardi, Fabrick’s CEO: „Leveraging the opportunities enabled by open finance, we support our
customers in defining an innovative digital financial service offering, the partnership with Easy4cloud
in particular is in response to the specific needs of companies for greater efficiency, through the
accessibility and efficient visualisation of all company accounts from a single touchpoint, the sharing
of transactional information and the automatic reconciliation of invoices. Thanks to the passporting
of our AISP licence, the project is operational in both the Italian and Spanish markets, demonstrating
the opportunities our open-first model can offer. Fabrick on the one hand allows foreign operators to
enter the Italian market, and on the other supports Italian companies to venture into new markets.
Every day we work to expand the boundaries of Fabrick’s reach because we are aware that digital has
broken down geographical barriers, amplifying market opportunities for all operators”.

Easy4Cloud is a company that has bet on the digital transformation of companies and their need to focus on their business. It has chosen to do so according to two values that have always distinguished it: simplicity and mobility. And it is these two values that make up the name of our company: Easy4Cloud. The company creates simple software for its customers, software that is installed by experts on the cloud to allow all companies to be free to move, relocate, geographically fragment their processes without ever having to worry about the impact these operations may have on the services they offer.

Fabrick is the open financial ecosystem created to promote Open Finance through the development of innovative digital services, based on the logic of Open Banking. The reality, which operates internationally, enables collaboration between different players to co-create solutions that meet the increasingly evolving needs of end users. Founded in June 2018 as a result of foreseeing well in advance the benefits that the technological and regulatory revolution could bring to all players in the system, Fabrick supports its clients – banks, institutions, fintechs, large corporations, SMEs, top merchants and startups operating in any sector – in developing Open Banking and Open Payments projects and providing consultancy.

The company has obtained authorisation from the Bank of Italy to operate as a Payment Institution, thus adding a further step to its role as an enabler of new business models. It can in fact exercise the activities of Account Information Service Provider (AISP) and Payment Order Service Provider (PISP) to propose „turnkey” solutions and make its licence available to customers in „as a service” mode.