Talenom selected Enfuce to deliver a modern, secure, and compliant Open Banking service that allowed Talenom to launch the comprehensive freemium small customer accounting software TiliJaska in Finland, with further expansion into Sweden on the horizon.
As a leading Finnish accounting services provider with over four decades of strong growth history, Talenom is constantly looking for ways to better serve their customers through their wide range of accounting, as well as legal, tax, and financial advisory services. In 2019, the company noticed a gap in the market – entrepreneurs and small customers had limited access to quality accounting and banking services. Talenom saw this as an opportunity to develop a solution that is flexible and cost-effective to meet the needs of the segment. To bring this vision into reality they needed a modern Open Banking solution with smooth connectivity to multiple banks.
At the end of 2019, Talenom chose the innovative Nordic fintech Enfuce as the implementation partner due to their expertise in providing turnkey scalable solutions with state-of-the-art technology and the necessary licensing for Payment Initiation and Account Information Services (PIS & AIS). Enfuce was the perfect fit to deliver a compliant solution that matches Talenom’s needs because Enfuce is accredited by FIN-FSA as an authorized payment institution.
Enfuce delivered a modern Open Banking service with high availability (HA), an audit trail for transparency, and strong security. Relying on PSD2 APIs, Enfuce Open Banking Hub provided Talenom with seamless integrations to major Nordic banks, enabling the accounting company to access account information and initiate payments in a safe, compliant way.
“Talenom’s project executed in partnership with Enfuce is an excellent example of new business opportunities brought forth by PSD2. Thanks to open banking APIs, service providers can now smoothly integrate to multiple financial institutions via a single secure, compliant, and transparent Open Banking Hub. Accessing account information, which used to require time-consuming and costly individual integrations with banks, can now be done much faster and more cost-efficiently using PSD2 APIs. It is amazing to see Talenom turning this functionality into a valuable service to facilitate the day-to-day accounting and banking processes of small businesses. We are excited to support Talenom in growing their solution beyond the home market, as well as to see other companies joining in on the connectivity revolution started by PSD2,” commented Niklas Apellund, Co-Founder & CTO at Enfuce.
Supported by Enfuce, Talenom was able to build from the ground up a comprehensive banking and accounting software solution TiliJaska. This newly launched family of products spans from a light business solution to an all-inclusive accounting package – with entrepreneur-friendly freemium pricing model.
“Our mission is to deliver the joy of entrepreneurship with our tools and services to small business owners. Before PSD2 APIs and the open banking solution we were not able to do that flexibly enough for the smallest companies. In the small customer segment, a digital and easy do-it-yourself onboarding for entrepreneurs is a must-have. The same manually handled deployment services which are in use in the middle-sized enterprise segment would not allow scaling fast enough when it comes to volume. Now with Enfuce’s services our customers can take Talenom’s financial management software and banking services in use themselves. And that is a very important building block for us in order to have fast growth with TiliJaska (KontoKalle),” comments Miikka Hätälä, Business Director of Small Customers at Talenom.
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Talenom Plc is an accounting firm established in 1972. Talenom offers a wide range of accounting services as well as other expert and advisory services to support its clients’ business. The company has its own software development and it provides its clients with electronic financing tools.
Talenom Group’s net sales in 2019 amounted to EUR 58.0 million, with an increase of 18.6% compared to 2018. Talenom has a history of strong growth – the average annual increase in net sales was approximately 15.7% between 2005 and 2019.
Enfuce offers payment, open banking and sustainability services to banks, fintechs, financial operators, and merchants. By combining industry expertise, innovative technology and compliance, Enfuce delivers long-term and scalable solutions quickly and securely. Founded in Finland, Enfuce recently expanded its geographic presence in Germany and France and has over 16 million active card users on their platform from whom Enfuce processes close to €1 billion transactions annually.
Enfuce has raised multiple rounds of venture capital funding and has been recognised by e.g. TheFinTech50, Visa Fintech Fast Track programme, Mastercard Lighthouse Development Programme, Deloitte Technology Fast 50, and as winner of the 2019 PayTech Award for “Best Payments solution for Payment Systems in the Cloud”.
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