Finastra and Veem Announce Partnership to Equip Banks with Digital AP and AR Solutions

The business payments network enables users of Finastra’s Fusion Digital Banking to easily perform payments transactions

San Francisco, California, December 8, 2022 – Veem, an accounts receivable (AR) and accounts payable (AP) network for small and medium-sized businesses (SMBs), today announced a partnership with Finastra, a global provider of financial services software applications and marketplaces, to offer business payments via a native integration with Finastra’s Fusion Digital Banking Platform. 

Veem’s partnership with Finastra enables banks and other financial institutions to offer innovative payment services for SMBs leveraging automated electronic invoicing and bill-pay capabilities. This partnership also streamlines the accounts payable and accounts receivable processes through digitization, resulting in increased efficiencies such as time savings while improving operational performance.

Veem’s AP and AR services may be accessed directly through Finastra’s Fusion Digital Banking, where users can navigate seamlessly to Veem’s payments network and perform their transactions. 

“As the world continues to digitize and innovate like never before, it is critical that businesses have the tools they need to be efficient and react quickly to the needs of their customers,” said Narendra Mistry, Chief Product Officer, Universal Banking at Finastra. “We’re pleased to work with Veem to make it easier for banks to offer enhanced AP and AR services for their customers through Fusion Digital Banking.” 

“Financial institutions are looking for ways to help their SMB clients digitize invoicing and bill pay processes,” said Marwan Forzley, CEO of Veem. “At Veem, we create digital solutions that make it really easy for SMBs to pay and get paid, both domestically and internationally”.

About Veem

Trusted by more than 700,000 businesses in over 100 countries, Veem is the market leader in automating accounts payables and receivables for businesses. Started with the intention of making business payments as simple as sending an email, Veem has revolutionized the way businesses pay and get paid around the world by empowering business owners, accountants, and finance professionals to take control of their payment processes. Veem levels the playing field by providing enterprise-level payment tools to small businesses. Designed with data security and privacy in mind, Veem adheres to strict compliance, privacy and data protection practices and holds all required federal and state licenses.

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by ~8,600 institutions, including 90 of the world’s top 100 banks. For more information, visit finastra.com.