This should be the reason why small and medium-sized enterprises will spend more time in the mobile application of Česká spořitelna. And at the same time, it is one of the first examples of direct involvement of a startup in such a large company. Česká spořitelna has announced that it will integrate the domestic wflow project into its mobile banking application. This is a big step for the largest Czech bank, even though it invests in startups, it has not yet become so firmly connected with them.
Wflow.com is a startup that helps entrepreneurs with accounting and makes their work easier with artificial intelligence. Among other things, it can automatically post and archive documents, it helps to approve them at multiple levels, extract data or sign documents electronically. It can connect to accounts in different banks, automatically match incoming transactions and partially automatically, for example, send bulk payments.
So far, the project has grown significantly even without such a close connection with Česká spořitelna – while at the beginning of last year it had about two thousand clients, now there are over 3,300 companies that use it. is digitization of accounting through its Internet banking aimed at companies currently available.
“We perceive a high added value with the wflow platform, especially in the time and money savings it brings to entrepreneurs,” describes Miroslav Koubek, who is in charge of daily banking products for corporate clients at Česká spořitelna.
This is also confirmed by one of wflow’s clients, Freshlabels, an e-shop focused on sustainable fashion. According to its director, Ladislav Žižka, the company will save roughly half of its time with the digitization of accounting. And he will still have the opportunity to get rid of routine administrative tasks.
The fintech startup was founded by Robert Soudný in 2018 together with his friends and former colleagues – David Groh and David Daňek. Last year, Seed Starter, the investment arm of Česká spořitelna, invested in it in the lower tens of millions of crowns, in exchange for a 17 percent stake. A year earlier, the education company Scio also sent higher units of millions of crowns to the startup.
The bank is actively looking for new ways to engage its clients with technology. That is precisely why young companies are in the spotlight, which the financial house can then use. However, he has not yet integrated any of the projects.
Seed Starter has previously supported, for example, the startup for payments at any time of the month PalmApp, the electronic signature project Signi or Investown, which allows you to invest in real estate. But he previously spoke of wflow as a very advanced company. “INwe hope that with our joint efforts we will be able to continue to scale the solution not only in the Czech Republic, but also abroad,” outlined at the beginning of last year by Jiří Skopový, leader of the Seed Starter program.
Česká spořitelna’s mobile banking should continue to emphasize technology. “Artificial intelligence has been with us for years and we use it in a number of places,” describes Tomáš Honěk, who oversees the enrichment of the bank with innovations from the startup environment and acts as a member of the Supervisory Board of Seed Starter. “We want to offer services in a personalized way, so that each user has access to those that are most suitable for him. And we can do that thanks to technology,” indicates.
2023-06-05 12:30:48
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