Case Study: Novo Banco achieves an award-winning SME digital banking experience with Strands' BFM solution

A Strands Case Study

Supporting Novo Banco in Its Digital Transformation

Novo Banco, one of Portugal’s most innovative banks, needed a technology partner to deliver a best-in-class digital banking experience for underserved SMEs. After assessing the market, Novo Banco partnered with Strands to build a highly personalized, easy-to-use business financial management offering (BFM + Engager, on-premise deployment) to give small businesses a 360º view of their finances and transform key customer journeys.

Strands embedded its BFM solution into Novo Banco’s Nbnetwork+, providing end-to-end support from back-end configuration to user interface design. The platform combines invoicing, a categorization engine and a real-time update engine so accounts are refreshed as transactions post, helping SMEs track cash flow and reduce fraud risk. The Strands-powered solution, launched in 2021, became an award-winning, first-of-its-kind BFM offering in Portugal and positioned Novo Banco as a leader in SME banking.

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