The Spanish fintech joins forces with French tech firm Powens to form Powens Group, aiming to become the leader in Open Finance and Embedded Banking in Europe and Latin America, positioning itself as the only fintech to combine these solutions in a single platform. Unnax will maintain its brand and continue operating in the Iberian and Latin American markets, where it has a strong presence and reputation. Unnax co-founders and co-CEOs join the group, assuming key roles. In addition to serving on the Executive Committee, Julián Díaz-Santos and Jordi Pérez will lead business activities in I ..read more

Is your method for validating customer bank accounts due for an upgrade? The account ownership validation process has come a long way from its roots in manual verification and paper-based processes. New technologies and regulations have made it easier to share account holder information between organizations, simplifying operations overall. Today, instantaneous account ownership verification is a vital element and benefit of PSD2. Through this capability, businesses gain instant access to financial data, enabling the automation or near-automation of processes linked to financial data. Addition ..read more

Does your recurring payment system need an upgrade? This was the situation our client, Esmiluz Energía, found themselves in. As a young company, they didn’t have enough support from their banking system to collect invoices from all their customers. They had to go to six different banks to process all their direct debit remittances. Now, thanks to Unnax’s technology, they’re able to manage more than €150K remittances in a single month. This is just one example of how recurring payments offer many benefits to businesses across industries. The key to a successful recurring payment strategy is hav ..read more

In addition to offering its own payment accounts with a Spanish IBAN, the company has also launched new solutions such as direct debits for B2B transactions and an automated account ownership validation service. With these developments, the Barcelona-based fintech consolidates its role as a strategic partner in Europe in its commitment to transforming traditional banking through its integrated finance platform and API technology. Barcelona, February 19, 2024 – Unnax, the embedded finance fintech based in Barcelona, consolidates its position as a key strategic partner in the embedded finance ..read more

Over the past year, the fintech industry has witnessed tremendous growth. As of 2023, the global fintech market reached a value of more than $226B (USD). From 2024 to 2032, the market is projected to grow annually by 16.8%, reaching a value of more than $917B. Financial technologies only continue to evolve, with more and more businesses around the world recognizing the importance of strong fintech partnerships. To ensure your company is prepared for the next fintech wave, we have compiled the four top fintech trends to know for 2024: 1. The rise of embedded finance As consumers look for more ..read more

New electronic invoicing regulation is on the horizon for Spanish businesses. Law 18/2022 — first approved in September 2022 — outlines the new e-invoicing expectations and obligations for Spanish businesses. According to the official text, the regulation aims to “promote the use of electronic invoices” to digitize business relationships, lower transaction costs, facilitate transparency, and reduce the impacts of late payments. Compliance for businesses will be implemented in two phases. Initially, large taxpayers, with a turnover above €8 million, are slated for compliance in the second half ..read more

All lenders eventually deal with default — even those with highly powerful and reliable scoring systems. This is particularly true in the currently challenging economic environment, with signs indicating an increase in defaults is incoming. In Spain, for instance, a Bank of Spain report shows that almost 1 in 10 households are not able to cover their essential expenses with their current income, and core inflation hit over 5% in October 2023. For growing organizations especially, the ability to differentiate between instances of loan default and loan fraud is vital for overall business resilie ..read more

Do the challenges of payment collections over-encumber your business? As the lifeblood of any enterprise, an efficient collections process is not just about maintaining liquidity but also ensuring long-term growth and stability. An unoptimized approach to collections can lead to many operational hindrances that disrupt your business’s bottom line. To provide you with the streamlined financial operations you need, Unnax offers a variety of payment collection methods to enhance your business efficiency and deliver exceptional customer experiences.   What are payment collection methods? Paym ..read more

If you operate a business in the EU, you are likely familiar with SEPA Instant Credit Transfers, also known as SEPA real-time payments. According to the European Payments Council (EPC), more than 2,200 payment service providers (PSPs) have joined in on the new payment scheme. Within the Euro area specifically, roughly 71% of PSPs have adopted the technology and resources necessary to enable instant payments. Today, we are covering all of your most pressing questions about SEPA Instant Credit Transfers — starting with what they are and what regulators hope to achieve through the SCT Inst scheme ..read more

https://www.unnax.com/wp-content/uploads/2023/12/231201_quote_wk_ENG.mp4   Wolters Kluwer provides organizations around the globe with professional solutions for information management and software. Serving a wide range of corporate and SME clients — including clinicians, accountants, lawyers, and financial professionals — the company strives to deliver deep impacts to each client’s decision-making powers. With customers in more than 180 countries, Wolters Kluwer has a worldwide influence on organizational productivity.   The challenge of transitioning to the cloud Prior to partnerin ..read more