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SCF SIGNED

Smart Cash Flow – Getting back on track

Total Cost €

0

EC-Contrib. €

0

Partnership

0

Views

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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.

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

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 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.

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