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POWER YOUR FINANCIAL RELATIONSHIPS WITH STARFISH DIGITAL 

Open Banking - Driving banking services growth and client innovation.

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Key Challenges

  • Technical expertise - API Banking requires technology resources of the corporate client to have the right skill sets to enable digital architectures and future proof systems.
     

  • Security and resilience - Financial services attract attention from hackers and disruptors. While banks invest heavily on information security controls and high availability, the technology implementation at the corporate client might expose services to disruption and data leakage. 
     

  • Loss of business through lack of API connectivity - Corporate banking onboarding times can take months and in some cases even more than a year. 
     

  • Technical debt - Corporate clients often have antiquated systems or legacy debt inhibiting integration with treasury systems. 
     

  • Protecting existing investments - Large corporate clients want to preserve their existing investments in API Banking. Corporate banks must provide solutions where companies do not absorb the costs of reworking their existing technology.

There are inherent challenges to corporate client adoption of digitally provided financial services that impact a corporate bank’s ability to achieve time-to-revenue and improve customer experiences, and on-board new clients: 

Your Client Connectivity Platform - Starfish Connect

Starfish Digital provides an overall solution to API onboarding resulting in a repeatable, predictable, managed service to future proof and safeguard your critical financial connectivity. 

 

Our API onboarding service covers the following:

  • Starfish Connect – Our SaaS (software as a service) platform provides the connectivity between the corporate and the bank’s API Banking services. Our intelligence layer translates data to protect and enable digital investments. Our technology detects and responds swiftly with self-healing processes to provide optimal service quality. Configuration changes, error correction and functionality enhancements are covered twenty-four seven and aligned to our clients’ needs.
     

  • Starfish Passport – the corporate client universal adaptor. The Starfish Passport integration service bridges technology gaps to connect with corporate client treasury systems. It provides a consistent, repeatable, and secure data feed for financial services.
     

  • Starfish Open Banking APIs – your digital banking relationship. This defines, by bank, the suite of digital services we deliver to you. We collaborate with the bank of your choice to curate by asset class the right customer experience for you, their client. For large companies, there are often multiple banking relationships to manage. We provide each banking relationship of your choice and integrate them with your finance systems through Starfish Passport.

Key Benefits

Large corporate clients demand digital banking products and services. For the Chief Financial Officer, the digitalisation of banking services is a pre-requisite to achieving integrated treasury management. In order to eliminate the need to manage multiple banking relationship for real-time access to payments, status inquiry, and account information and gain the ability to make dynamic cash management decisions. For Chief Information Officers, API Banking provides a transparent and secure technology means to build that integration between the banks and their treasury systems. ​

Companies who have made investments in digital connections to banks, want to see those investments preserved.  A common- practice, is to regularly tender their banking relationships to evaluate best value, a third default to the existing bank due to cost and risk of migration.

  • Better service – Banks can offer clients a digital fully-automated offering with greater agility, accuracy, and with lower risks of manual error and number of people with access to key information. 
     

  • Customer data - Banks can capture better customer data to identify greater value opportunities for cash management, lending, payments, and advisory services. 

  • Client innovation – API Banking enables clients to embed banking services through technology, such as instant payments and loans, into their clients’ innovative products.
     

  • Better service – Digital connections provide a fully automated service with greater agility, accuracy, and lower risks of manual error and number of people with access to key information. 
     

  • Better data – With integration between their finance systems and bank services, corporates have access to better data to reconcile their account balances, transactions and payments.  Account history is one of the most used services, reflecting consumer demand for better data digitally less available through traditional methods.

Key Features

  • Technical expertise – Our platform simplifies the technology process and company's can rely on us for professional services support.
     

  • Security and resilience – Our products and platforms are created with banking service standards in mind.  We use data encryption, security keys, access controls, data protection and high availability controls to support your critical daily business. Our architecture has been reviewed by the world’s leading cloud providers and we perform regular security testing.
     

  • Technical debt –  Our integration service addresses these gaps and ensures treasury systems function with automation, accuracy and reduced risk.     
     

  • Differentiation – Our technology provides an easy plug and play approach to connect corporate clients to banks with reusable, secure and encrypted services.

Starfish Digital provides API onboarding in a matter of weeks with our proprietary technology. So, you can address today’s challenges and take smart leaps ahead.