Czech Republic based mostly Neobanking Platform Octobank to Serve European E-Outlets and Retailers

Czech Republic-headquartered Octobank is introducing what it claims is Europe’s first neo banking platform that’s centered on serving SMB e-shops and retailers.

Octobank has launched a freemium plan for small retailers which might be registered companies within the Czech Republic. The bundle comes with a enterprise Iban account and debit card, bills, and transaction administration instruments. It additionally helps recurring funds, invoicing, and payroll providers.

A variety of additional premium providers will even be out there, together with additional Iban accounts in native currencies, insurance coverage, microloans, and numerous cost acceptance instruments. Clients will pay both fee or month-to-month subscription charges for these digital providers.

All of those providers are offered by way of the net and Android and iOS apps. The corporate will provide on-line biometric-based onboarding, verification and associated authentication providers as nicely.

Bogdan Atanasiu, CEO at Octobank, famous that the neobank’s launch has come because the response to the SMEs’ necessities to entry banking, funds, and past options. Atanasiu claims that Octobank’s providers might be accessed “simply, shortly and securely.” He additionally talked about that each one of those options are interconnected “in a single setting, leading to a extra environment friendly and cheaper method to contract such providers and merchandise.”

As famous by the digital financial institution’s administration:

“Octobank is a neo-bank and integrator of past banking options devoted to SMBs & enterprises, with a main give attention to e-shops and retailers. We offer a digital ecosystem of banking, funds and past options centered on your online business wants.”

Services and products supplied by Octobank embrace:

• enterprise IBANs
• enterprise & workers debit playing cards
• cost acceptance options: POS card terminals, e-commerce cost gateway
• recurring funds
• analytics
• invoicing
• payroll
• automated accounting
• Apple Pay, Google Pay appropriate
• and numerous different options

Octobank is a personal financial institution that’s based mostly in Prague. It primarily focuses on on-line shops and retailers within the Jap and Central Europe area. The neobank will initially serve clients within the Czech market and later develop to Romania, Poland and Hungary.