Not Everything Was Holidays This Summer...

Hello!

I hope that, if you were able to take some time off, you had a great holiday!

To be honest, mine were a little disrupted by health issues, but so far everything has gone well (and may it stay that way!).

At NaN-tic, we tried to get some rest too, but we have also done some very interesting things!

Today I will quickly tell you about the first one.

Starting tomorrow, Friday, we will be able to offer all customers who wish to do so the option of obtaining their bank statement information with far fewer complications.

How did it work until now?

Until now, we allowed bank statements to be uploaded to Tryton using files in the so-called "Norma 43" format. The user had to:

1. Log in to the bank's website using their credentials
2. Go to the download section of the website and apply the relevant filter—without downloading today's data, only up to yesterday at the latest (to avoid creating duplicates)
3. Download the file (some banks do not allow it to be downloaded immediately, while others want to charge you for it...)
4. Go to Tryton, create a new statement and import the downloaded file
5. Review the accounting entry proposals automatically generated by the program and post them

How will it work from now on?

With the new system, the steps will be:

1. Review the accounting entry proposals automatically generated by the program and post them

Yes, yes. Just as you read it.

With the new system, you can forget about logging in to the bank's website. The program automatically connects to the bank periodically (as often as you want: every day? every hour? no problem!), downloads everything that is pending (including transactions up to the very last minute—if the bank provides them), and generates the accounting entry proposals so that you only have to review and post them.

Besides the obvious productivity improvement, another key factor for me is that, since the system itself detects which transactions have already been downloaded, there is no room for human error (until now, you had to make sure not to retrieve the same day's data twice or skip a day). It may only happen once or twice a year, but it wastes an awful lot of time...

And what about the setup?

We have designed the setup process to be very simple and to avoid errors, by entering the information only once.

When you set up the bank in the system, you will need to click a button that will take you to a website of our partner, Enable Banking. One more click on that page will redirect you to a new page where your bank will ask for your username and password. And that is it. It is that easy.

You will be able to let the system work its magic automatically without needing to enter the information again for 180 days!

Is it secure?

Enable Banking (enablebanking.com) allows connections to more than 3,500 banking institutions across Europe, including the main Spanish banks, through the European PSD2 directive (open banking). This directive defined the APIs, security protocols and encryption needed to make services like the one I am presenting today possible, with all European banking institutions and with complete security.

Next week I will tell you about something else we have been preparing over the last few weeks: the first integration of Artificial Intelligence tools in Tryton. And there will be more to come!

Best regards!