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Virtual Account Management
Virtual Accounts: now critical for a corporate banking offering
In an era where corporate demand for virtual accounts is skyrocketing, offering virtual account management is no longer just an option for banks — it’s a necessity to stay competitive.
Offer virtual accounts to your corporate clients while keeping your current core banking system. Our core-agnostic product is end-to-end, modular, with flexible hosting options, and most importantly, can be deployed quickly.
Whatever the industry or use case – from business banking to global corporates, to real estate, to telecommunications, to asset management, and many more – get to market with the most comprehensive Virtual Account Management solution. Fast.
Endless possibilities… from mimicking company structure to online market places… to account reconciliation.
Wouter Roest, Central Product Owner, Global Cash Management, ING
Wide range of use cases for corporates
Despite the fact that Virtual Account Management is now seen as hygiene as part of a corporate banking offering, not all banks have hopped on this digital train yet. For those still looking to integrate virtual account management, the solution must cater to a diverse spectrum of industries and use cases.
Real Estate
Virtual Cash Management: Create virtual account structures for lines of business, properties and even for individual contracts.
Telecommunications
Reconciliation: Each payer (e.g., customer) can be assigned with a virtual account linked to a unique reference for simplified invoice mapping.
Legal & asset management firms
Escrow / Client Money Management: Segregate clients’ funds via virtual accounts while aggregating cash through the same master account.
Don’t take our word for it: watch the ING webinar
Transforming Cash Management with Virtual Accounts
Listen to Wouter Roest, Central Product Owner of Global Cash Management at ING, talking about ‘Transforming Cash Management with Virtual Accounts’ and their experiences deploying the Fioneer solution.
Get to market quickly with a flexible, comprehensive solution
Core agnostic
No need to change the core banking system
Flexible hosting
We offer on premise, public cloud or full SaaS options
Integrations
ERP, TMS and other client system integrations
Highly configurable
condition framework for interest, fees etc.
Multi-currency, multi -entity’
and cross-border capabilities
Comprehensive self-service capabilities
to put control at your customers’ fingertips
Built on rock-solid technology
SAP Fioneer solutions are highly scalable and reliable
High volumes
15,000+
Transactions per second
Complex hierarchies
20,000+
Virtual accounts below a single
physical account, proven in
actual installations
Average availability
99.99%
Average availability proven
in actual installations
Request a personalized demo
Watch an on-demand demo now here or book a call with our experts for a personalized demo relevant to your use case.