Enfuce Open Banking Powers Talenom in the New Era of Small Customer Accounting Services

Open Banking
13.01.2021 03:43 pm

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.