Like many leading players in the banking sector, NEO-BANK NICKEL chose CALIXYS to reduce operational risks by modernizing its financial controls and bank reconciliation.
How did the XREC Reconciliation Solution bring speed and efficiency to their day-to-day financial control and reconciliation process? During this interview, Olivier JEAN – Managing Director and Ronald MOUNIEN – Finance Information System Project Manager at NICKEL would share their first-hand experience and feedback with you.
By Olivier JEAN – Managing Director
NICKEL was the very first neo-bank (challenger bank) in France and acquired more than 1 million customers in 2017.
The company was founded six years ago with a straightforward principle – A bank account with a basic bank account number and physical card that everyone can afford, open within 5 minutes at any Tobacconist.
Today, NICKEL is the third-largest banking network in France, with over 5 700 tobacconists throughout the country. We are going to continue this success story across the lands.
By Olivier JEAN – Managing Director
To support our ambition of launching operations in 7 European countries by 2024, one of the prerequisites was, indeed, to completely modernise our accounting system so that it could work more effectively while processing the high volume of transactions from our core banking system.
Our objective is to equip our team with a scalable solution that can be implemented quickly in 2 to 3 different countries every year.
The keywords that represent the solution should be great scalability, lightning-speed execution, and compatibility with our systems, which allows us to monitor our clients’ transactions through our system.
« The XREC Reconciliation Solution is a significant element within our controlling process that helps us verify the accounting and financial operations with excellent efficiency, accuracy, and visibility. »
By Ronald MOUNIEN – Finance IS Project Manager
NEO-BANK NICKEL has been working with CALIXYS since 2015. This trustworthy partnership enabled us to meet our business requirements regarding account reconciliation with great agility.
After reviewing several product performances benchmarks, we did not doubt that the XREC Reconciliation Solution was the solution that could fully support our ambitions and help us to conduct the transformation within our finance information system.
Besides all the innovative and impressive features of the XREC Reconciliation Solution, the initiative-taking team of experts at CALIXYS convinced us with a high-quality proof-of-concept.
They demonstrated the powerful capacity of the XREC solution as any user can easily manage the data, and quickly match and reconcile millions of transactions. Instead of wasting on manual and repetitive tasks. Our team can now focus on significant issues and resolve exceptions.
By Olivier JEAN – Managing Director
The competitive advantage of the cloud solution is precisely what we need to deploy the solution as fast as possible.
However, we were concerned about the risk and security associated with this type of technology since we will be managing sensitive data with this tool. We need to ensure that the solution can handle the data with the utmost care at all levels.
By choosing CALIXYS’ solution, we are sure that our data will be managed and stored in a secure environment that is fully compliant with industrial standards.
By Ronald MOUNIEN – Finance IS Project Manager
CALIXYS and its solution also helped us to redefine our bank reconciliation process.
It brought many profound changes during project implementation, especially when it came to reconciliations of transactions, which before collaborated with CALIXYS, we did it manually most of the time.
We are satisfied with the considerable time we have saved for the business team through this automated reconciliation approach. Our team now concentrate their time on analysing issues instead of manual tasks.
We had no doubt that the XREC Reconciliation Solution has evolved in a way that fitted NICKEL’s business requirements. During the implementation process, the professional team at CALIXYS responded to our requirements with innovative solutions and insightful suggestions that our company now uses daily.
By Ronald MOUNIEN – Finance IS Project Manager
The method that CALIXYS’ team applied during the migration of the finance information system at NICKEL was fascinating and constructive. Moreover, the team was accommodating throughout the entire process.
« The advantage of CALIXYS is that we were able to have a tailor-made solution as if we had an in-house development team. »
By Olivier JEAN – Managing Director
It was a relatively complex project with a lot of stakeholders involved. As I have said in the steering committee, we tended to zoom in on the mistake instead of these things that had been done correctly by our business partners. However, CALIXYS always provided outstanding results with zero error, and this is the quality of work and trustworthy partnership that NICKEL was looking for.
According to company’s strategic planning, we were able to launch our operation in Spain in a record time, which would also allow us to carry out activities timely in up-coming weeks. This is the first international expansion for us and we are confident that the success awaits us in the future, and we will surely continue this journey with CALIXYS.
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