Electrica Furnizare signs partnership with Finqware for financial process automation solutions

Electrica Furnizare announces the signing of a partnership with the Romanian fintech Finqware for accessing the services offered by the FinqTreasury platform, which is based on open banking technology. The platform ensures the centralization and real-time visualization of all the company’s bank accounts, at the same time offering the possibility of managing bank balances and transactions in a single database.

“By signing this new partnership, Electrica Furnizare has taken another important step in the digitalization of current operations, the optimization of the activity within the Financial Division being an immediate result of using the FinqTreasury platform. Moreover, reducing the time allocated to work processes as well as increasing employee performance are constant concerns of the company’s management. The platform particularly benefits the area of treasury operations in which an efficient way of working is essential to support the decision-making process related to the company’s daily transactions”, said Ruxandra-Mădălina Rusu, director of the Electrica Furnizare Financial Division.

“We are happy to see more and more medium and large companies in Romania adopting the new banking technologies regulated by the European Commission. Obviously, the functioning of the FinqTreasury platform depends on the technological evolution of the entire Romanian banking system, and we note that together with the banks we managed to reach a performance of open banking services far above the level of a year ago when we started. In this case we were happy that we managed to connect most of the banks the company works with in just a few hours, through their regulated API platforms, with only a few exceptions. In the end, increasing the operational efficiency of a company like Electrica Furnizare brings an improvement in services at the level of the end customer”, said Cosmin Cosma, CEO of Finqware.