“Businesses, Accountants and the Bank – now digitally integrated!”
Concept and objectives: Provide new digital services that leads us to be the main Bank off all Micro and Small Companies
Reasons behind: To Integrate different financial services adding new and unique value to the Customers
State of competition: None at the time. Millennium bcp was the first mover providing this new digital service, PSD2 Compliant.
Sources of inspiration: Strong team work believing that doing Partnerships with the right Partners outside the Bank will bring new and different value proposition for SMEs
Departments involved: Marketing, Channels IT and Communication
Main results so far: 1.300 Companies and 650 Accountants digitally linked in 5 months
Uniqueness of the project
Millennium bcp’s M-Accountacy is the only service in Portugal that directly connects businesses and Accountants, digitally, within the guidelines of new openbanking / PSD2 policies. Within the Millennium bcp Business website, Businesses are able to sign up for the service and establish a direct connection with their accountant. From that moment on, the accountant, on the TOC online platform (certified accountant platform) is able to receive the company’s daily financial data, integrate account statements into the platform and benefit from automated financial reconciliation. The accountant, once completed the handling of the customers taxes, employee payroll and/or supplier payments, is able to submit all payments details through the same portal (customer’s account within Millennium bcp website. The company receives an alert for pending payments, and as a result can access its financial data (P&L) in one place.