back Back

Finastra and Veem partner to equip banks with digital AP and AR solutions

By Edlyn Cardoza

December 09, 2022

  • Accounts Payable
  • accounts receivable
  • Bill-Pay Capabilities

Veem, Finastra, Accounts Receivable, Accounts Payable, Financial Services, Business Payments, Fusion Digital Banking Platform, Financial Institutions, SMBs, Bill-Pay Capabilities, Electronic Invoicing, USA Veem, an accounts receivable (AR) and accounts payable (AP) network for small and medium-sized businesses (SMBs), announced a partnership with Finastra, a global provider of financial services software applications and marketplaces, to offer business payments via native integration with Finastra’s Fusion Digital Banking Platform.

“Financial institutions are looking for ways to help their SMB clients digitize invoicing and bill pay processes,” said Marwan Forzley, CEO of Veem. “At Veem, we create digital solutions that make it really easy for SMBs to pay and get paid, both domestically and internationally.”

Veem’s partnership with Finastra enables banks and other financial institutions to offer innovative payment services for SMBs leveraging automated electronic invoicing and bill-pay capabilities. This partnership also streamlines the accounts payable and accounts receivable processes through digitisation, resulting in increased efficiencies such as time savings while improving operational performance.

Veem’s AP and AR services may be accessed directly through Finastra’s Fusion Digital Banking, where users can navigate seamlessly to Veem’s payments network and perform their transactions.

“As the world continues to digitize and innovate like never before, it is critical that businesses have the tools they need to be efficient and react quickly to the needs of their customers,” said Narendra Mistry, Chief Product Officer, Universal Banking at Finastra. “We’re pleased to work with Veem to make it easier for banks to offer enhanced AP and AR services for their customers through Fusion Digital Banking.”

Finastra is a global provider of financial software applications and marketplaces and launched the leading open platform for innovation,, in 2017. It serves institutions of all sizes, providing software solutions and services across Lending, Payments, Treasury & Capital Markets, and Universal Banking (Retail, Digital, and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service.

Previous Article

December 09, 2022

NBK customers can now use Apple Pay for contactless payments

Read More
Next Article

December 09, 2022

Starling Bank releases virtual cards, updates Spending Insights

Read More

IBSi Daily News Analysis


February 23, 2024

Accounts Payable

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News


Ebury and Nium team to offer cross-border payments in Brazil

Read More


MultiPay teams up with to launch Pay By Bank

Read More


UNIPaaS unveils AI payment assistant solution for SaaS platforms

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2023