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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.

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

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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