RIGA, Latvia (15th February 2022) – Spanish platform for automated cash flow management and control, Orama, has enlisted the help of the world’s only free open banking platform Nordigen to help populate their application with financial data for commercial accounting. Orama aims to help busy entrepreneurs control all their finances in one place as well as giving them opportunities to predict their finances in the future.
The platform features a categorised view and control panel for all business financial collections and payments, personalised cash forecasts and budget plans, expert consultations and a system for expected transactions, notifying users when predicted payments are late. Additionally, the platform boasts a future scenario creator, which allows users to simulate events, such as new products and hires, or investment opportunities, to analyse and visually present estimated financial effects on the business.
“We have created a program that assists entrepreneurs in staying on top of their finances and planning ahead using all the information possible. When you run a business, there are always an abundance of things to consider and our system solves issues associated with that, helping entrepreneurs benefit from a tailored and predictive cashflow system,” says Adrián Fuente Posadilla, co-founder, CEO and CTO of Orama.
The integration with Nordigen allows Orama’s users to sync their bank accounts to the platform, adding real-time financial data directly from the source. This way the data is always fresh and up-to-date, without the reliance on manual transactional input.
“As a co-founder, I can appreciate a tool that simplifies processes and helps analyse financial investments before committing to them. We are delighted that Nordigen is able to help further simplify accounting procedures for fellow business professionals,’‘ notes Rolands Mesters, co-founder and CEO of Nordigen.
Nordigen is a freemium open banking platform that provides free access to open banking data and premium data insights. Nordigen’s free API connects to more than 2,100 banks in Europe and serves fintech companies and developers in 31 European countries, including the UK. Nordigen is a licensed Account Information Service Provider (AISP), regulated by the Financial and Capital Market Commission of Latvia and authorised in 31 European countries.
Orama is a Spain-based fintech platform, aimed at helping CEOs and CFOs perform finance processes and forecast for the future. The program’s features include a categorised control panel for business financial collections and payments, personalised cash forecasts and budget plans, a future scenario creator, expert consultations and a notification system for expected transactions.