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SCF SIGNED

Smart Cash Flow – Getting back on track

Total Cost €

EC-Contrib. €

Partnership

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SCF project word cloud

Explore the words cloud of the SCF project. It provides you a very rough idea of what is the project "SCF" about.

company artificial flow businesses stage software came collection smes filled party america natural online weekly optimal cash asteria accounting packages business 3rd ec reached empower companies consent cornerstone invoice daily banks monthly competition smart payment history advisor patterns fortune swedish market alone service forecasts obtain intelligence transactions pitfalls last wanting recommendations shift longterm stand services wants fintech least gap innovation worked actionable register gain agenda banking turning accounts professional programs digital interface customer scf promoted small act histories platform bank tide corporate accessible debt force spending streamline planning tested latin directive begin accomplishes psd2 enterprises solution basis decide linking providers revised pursued

Project "SCF" data sheet

The following table provides information about the project.

Coordinator	ASTERIA AB Organization address address: SVEAVAGEN 45 city: STOCKHOLM postcode: 111 34 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Sweden [SE]
Total cost	71˙429 €
EC max contribution	50˙000 € (70%)
Programme	1. H2020-EU.3. (PRIORITY 'Societal challenges) 2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs) 3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
Code Call	H2020-SMEInst-2018-2020-1
Funding Scheme	SME-1
Starting year	2019
Duration (year-month-day)	from 2019-09-01 to 2020-02-29

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	ASTERIA AB ASTERIA AB Organization address address: SVEAVAGEN 45 city: STOCKHOLM postcode: 111 34 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	SE (STOCKHOLM)	coordinator	50˙000.00

Map

Project objective

The objective of Smart Cash Flow (SCF) is to empower SMEs to act on their cash flow problems. We want SCF – a platform fully embedded in a user’s online banking services – to be the advisor-of-choice for companies wanting to avoid the pitfalls of cash flow. Today, if a small company wants to begin to assess its cash flow and decide on the best way to effectively manage it longterm, it is optimal for it to have open at least four stand-alone programs: accounting software, online bank account, invoice system, debt collection system.The gap is a product enabling businesses to manage cash flow on a daily, weekly and monthly basis and obtain insight from the trends and histories without spending a fortune. This gap has not been filled by the fintech market. The tide, however, is turning. Open Banking in Europe is being promoted by the European Commission as part of a digital agenda to open up services, provide choice and competition, and allow innovation in the market. Open banking is a cornerstone of the EC’s revised Payment Service Directive (PSD2), which came into force last year. A crucial aspect of this shift is to allow 3rd party providers, like Asteria, to gain access (with the bank customer’s consent) to an account, learn from the history of transactions, and be able to provide actionable insight and recommendations. SCF is about making professional cash flow management accessible to small enterprises. It accomplishes this by linking accounting software packages to corporate banking accounts, using artificial intelligence to register patterns, develop forecasts, and streamline cash flow planning. The natural interface for our solution is the online banking account. Asteria’s product has already reached an advanced enough stage to be tested by a Swedish bank, and we have worked with three other major banks. Other business opportunities are being pursued, including in Latin America.

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The information about "SCF" are provided by the European Opendata Portal: CORDIS opendata.