How Finqle built a best-in-class pan-European payment infrastructure
To efficiently manage more than a million and growing payouts per year and better serve their customers, Finqle built a pan-European payment infrastructure using Mambu Payments.
- payments per year
- automated payment approval and execution
- engineering time to add a new bank
FINQLE
About the customer
Finqle is an innovative invoicing and factoring-as-a-service company based in Amsterdam and rapidly growing throughout Europe and the UK.
With their advanced technology and services, Finqle creates an optimised invoicing and payment alignment between debtor, intermediary and merchant, making the whole process from invoicing to payments simple, efficient, and transparent.
- Founded in 2015
- Located in Amsterdam, Netherlands
The challenge
The challenges of pan-European payouts
To provide invoice factoring to its customers, Finqle operates two main payment flows:
- Paying out purchased invoices to their customers.
- Collecting invoice amounts from their customers’ end-customers.
To automate these payments, Finqle built its own bank integration with the Dutch bank ABN AMRO.
This integration enabled them to avoid manual payout tasks and automatically pull valuable information, such as transaction statuses and account balances, directly into their internal systems. Through this, Finqle was able to calculate its cash position every 15 minutes, a critical capability for purchasing the most invoices while tying up the least amount of liquidity at an acceptable risk level.
This initial setup worked well in the early years, but as the company and its customer base grew, new challenges emerged.
Merchants began demanding faster payouts, but Finqle’s ABN AMRO integration only supported classic SEPA credit transfers, which take up to one working day to process and can cause additional delays.
Additionally, Finqle wanted to support its customers’ pan-European growth, including in the UK. This required support for the UK’s Faster Payments Service (FPS). While ABN AMRO’s UK branch supported FPS payments, it needed a new bank integration and an easy way to route payments through the correct accounts.
Finqle wanted to add this new payment method while maintaining a near real-time, unified view of its treasury without diverting resources from its core in-house systems.
The solution
A sophisticated and simplified payment infrastructure
Finqle needed a solution that was as performant as its in-house integration, but with the ability to support additional payment methods and new geographies while maintaining complete visibility on its bank accounts. Given the time, resources, and expertise required, building a new integration in-house was not an option.
To replace its existing ABN AMRO integration for SEPA credit transfers, add support for FPS payments with ABN AMRO UK, automate payment workflows across multiple accounts, automate reconciliations, and centralise its view of all transactions and treasury, Finqle chose Mambu Payments.
In addition to bank connectivity and the ability to send and receive payments on various schemes, Finqle also benefits from Mambu Payments' automated reconciliation capabilities.
“With Mambu Payments, we found more than a way to connect to our existing bank partner easily. The capabilities they built on top of their multiple bank integrations make Mambu Payments a complete solution for pan-European payments.”
- Erik-Jan Klinkenberg, Founder and CEO at Finqle
The result
Supporting new countries and payments, instantly
After successfully integrating Mambu Payments, Finqle transformed how it manages and scales its payment operations. By using Mambu Payments as its bank orchestration solution, the company gained access to the UK’s Faster Payments Service (FPS) through ABN AMRO in just days instead of months. With its systems connected, Finqle can now expand instantly by adding new banks and payment methods in the EU and UK with only a single line of code, opening up new geographies without heavy development work.
Operations have also become more efficient: automated reconciliations and payment automation allow the team to manage growing volumes confidently and at scale. In addition, Finqle now benefits from real-time visibility of all bank accounts and related data via API and webhooks, giving it a unified view of its treasury.
Looking ahead, the company plans to support SEPA instant payments to deliver instant payouts for customers across Europe.
“Mambu Payments removes the payments parameter from the equation when it comes to our geographic expansion: we know we will be able to send payouts to our merchants and collect repayments anywhere we want to go in Europe. With their unique API and dashboard, we know that we will keep complete control and visibility on our payments no matter how many payment methods we support and banks we work with.”
- Erik-Jan Klinkenberg, Founder and CEO at Finqle
About Mambu Payments
Mambu Payments is a modern payments hub with native straight-through processing, orchestration, liquidity, and reconciliation. It delivers real-time, compliant payment flows into any core system. With managed connectivity to local and global schemes and composable payment workflows, financial institutions can launch faster, reduce costs and stay compliant at scale.
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