FISPAN

Core Business Model

FISPAN's business model is centered on a three-sided ecosystem: banks, business clients (the end-users), and the ERP systems they use.

1. For Banks (The Primary Client): FISPAN partners with major financial institutions (including J.P. Morgan, TD Bank, Wells Fargo, BMO, and others). It provides these banks with a white-label, managed solution (a plug-in or application) that they can rebrand and offer to their commercial and corporate clients. This allows the bank to "embed" its treasury and payment services directly into its clients' day-to-day operational software, increasing customer loyalty, engagement, and deposit retention.

2. For Business Clients (The End-User): For the small, mid-market, and corporate businesses that bank with a FISPAN-partnered institution, the service provides a direct and automated connection between their bank accounts and their accounting software. This connection streamlines financial workflows, automates manual tasks, and reduces the risk of human error.

3. For ERPs and Consultants: The platform is built to integrate natively with the market's leading ERP and accounting systems. FISPAN also partners with Value-Added Resellers (VARs) and consultants who implement these ERPs, enabling them to offer integrated banking as a value-add service.

Products and Services

FISPAN's "product" is its unified platform, which delivers a suite of services directly into a company's financial software. These services are the core treasury management functions that a business performs daily.

Key Service Offerings for End-Users

• Accounts Payable (AP) Automation:

  • Vendor Payments: Enables finance teams to initiate, approve, and send payments (such as ACH, Domestic Wire, and Checks) to vendors directly from their ERP system. The platform automatically syncs payment data, eliminating double entry.
  • Positive Pay: Provides an automated workflow for transmitting positive pay files to the bank directly from the ERP, a key service for preventing check fraud.
  • Remittance Advice: Automatically generates and sends detailed remittance advice emails to vendors once payments are processed.

• Automated Reconciliation:

  • Direct Bank Feeds: This is a core feature. Instead of using unreliable "screen-scraping" methods or manually downloading bank files, FISPAN provides a direct, secure, and API-based feed of bank transaction data. This data flows automatically into the ERP's reconciliation module, allowing for continuous and automated matching of cash transactions.

• Cash Management and Reporting:

  • Real-Time Balances and Transactions: Allows users to view real-time balances and detailed transaction histories for all their connected bank accounts from a single dashboard within their ERP.
  • Book Transfers: Users can initiate fund transfers between their own company's bank accounts (e.g., from an operating account to a payroll account) without leaving their accounting software.

• Employee Payments:

  • Expense Reimbursements: Streamlines the process of paying employee expense reports, integrating with the AP module to execute payments.

Key Integrations

The functionality of FISPAN's platform is dependent on its pre-built, native integrations with major ERP and accounting systems, including: * Oracle NetSuite * Microsoft Dynamics 365 Business Central * Sage Intacct (as well as Sage 50, 100, and 300) * QuickBooks Online * Xero