Direct Banking streamlines financial workflows for businesses using Microsoft Dynamics 365 Business Central. With Direct Banking, financial administrators can eliminate manual bank reconciliations and simplify payment processes. Direct Banking integrates seamlessly with Business Central, enabling users to import bank accounts, statements, and transactions directly from Ponto (European bank accounts) or Cobase Bank Connector (European + worldwide bank accounts) with just a few clicks.
As a financial administrator or controller, manually logging into each business bank account online separately and importing daily statements into Business Central can be a time-consuming and tedious task. Additionally, exporting payments from Business Central and manually logging into the bank to pay them can be both inefficient and frustrating. However, there is a solution that can save you time and improve your workflow: Direct Banking.
Direct Banking integrates Business Central with Ponto or Cobase, allowing you to sync and reconcile your bank accounts in real-time or on a schedule, export payments directly to your bank, and work seamlessly from within Business Central. Say goodbye to manual bank account management and hello to a more streamlined, efficient process.
Saving time on daily repetitive tasks is a no-brainer for your productivity. Starting every workday with their financial overview up to date is a big win for our Direct Banking users. But what are the other benefits of Direct Banking?
Direct Banking integrates seamlessly with Microsoft Dynamics 365 Business Central, so you can manage your financial tasks directly within the platform without having to switch between different applications.
Direct Banking automates the process of importing your bank statements and reconciling them with outstanding customer/vendor/employee or bank account ledger entries, saving you time and reducing the risk of errors.
All communication between Direct Banking and your bank is secured through an API without using files, ensuring the highest level of security for your financial data.
Direct Banking supports international payments and any currency that your bank can handle, making it a versatile solution for businesses that operate globally.
Direct Banking has a user-friendly interface that allows financial controllers to easily initialize scheduled or manual imports of transactions and reconciliation, as well as quickly initiate payments from within Business Central.
Direct Banking saves you time with frequent and scheduled imports of transactions and on-demand initiation of payments. Its partially automated matching also saves time every day and improves the accuracy of your financial data.
With Direct Banking’s automation and time-saving features, you can expect a quick return on investment, allowing you to focus on growing your business.
Direct Banking is compliant with the European PSD2 and Open Banking guidelines, providing peace of mind for businesses that need to adhere to strict financial regulations.
Direct Banking integrates Business Central to either Ponto or the Cobase Bank Connector. You will probably want to know the differences between both financial platforms.
| Overview Features Provider | Ponto | Cobase |
| Account Information | Yes | Yes |
| Payment Initiation | Yes | Yes |
| EU Banking (PSD2) | Yes | Yes |
| Advanced Authorization Flow (person A till amount X, person B till amount X+Y) |
No | Yes |
| Worldwide Banking | No | Yes |
These functionalities will save time and effort for financial controllers or administrators responsible for paying vendors or employees or reconciling outstanding invoices with bank statements. With Direct Banking, they can enjoy quick returns on investment, real-time insights on account balances within Business Central, execute quick payments, and improved automated matching of transactions and outstanding ledger entries.
Ponto is a banking platform with over 600 banks connected developed by Isabel Group. The Ponto platform complies fully with the Payment Services Directive 2 (PSD2) legislation and regulations.
A complete list of all banks can be found on the Ponto website. For the Cobase Bank Connector, almost all banks are available to connect. This includes all big European banks.
Direct Banking is available worldwide with the W1 localization. Next to that, Direct Banking is currently available for NL and BE localization in Business Central. Major Dutch banks that can be integrated via Direct Banking include ABN-AMRO, Rabobank, ING, Triodos, SNS Bank, RegioBank, ASN Bank, Knab, Bunq, DHB, Van Lanschot en BNG Bank.
Yes, payment providers like PayPal and Mollie are available to integrate with Direct Banking. A complete list of all banks and providers can be found on the Ponto website. For the Cobase Bank Connector, almost all banks and 3rd partiy services are available to connect. This includes all big European banks.
You can create an account on www.myponto.com and from there you can activate all your bank accounts. You can do that with your normal process of logging in to your online banking. The Direct Banking setup wizard guides you through the steps to finalize your installation.
Yes, you can activate multiple banks and bank accounts in your Ponto account. All these accounts will be synchronized within your Business Central environment.
Yes, foreign currency accounts can be activated and used.
No, there are no more files used in the Direct Banking process. The integration is real-time. There is no need to upload/download files manually.
Yes. Direct Banking is developed in cooperation with Ponto (Isabel Group) and fully complies with the Payment Services Directive 2 (PSD2) legislation and regulations. You can use Direct Banking knowing this app meets the European requirements and takes all the right safety measures. Last April, we hosted a webinar where PSD2 and Open Banking were discussed. Visit this webinar here.
There are two processes. The bank statement process and the payment process. Both are explained in our demo video (NL).
While using Ponto for your payments you don’t need to sign in to your banking account to access the payments. When it’s time to finalize payment, you’ll be transferred directly to the bank payment page where you can use your credentials to authorize your payments.
You will receive an invoice from Ponto for the activated bank accounts. And you will receive an invoice from idyn or your Microsoft partner for using the Direct Banking extension.
Direct Banking is the general app and you can use it in the so-called W1 version of Business Central. With Direct Banking NL you can use all functionalities in the Dutch version of Business Central using the Telebanking module. Direct Banking BE is focused on the Belgian version using EB payment journals.
If you want to use the Dutch version of Direct Banking (NL), you only need to install this app. The Direct Banking app will be installed automatically if you choose Direct Banking NL.
Direct Banking is available for Business Central SaaS and for Business Central OnPrem. Direct Banking for OnPrem is available from BC 15+ and all higher versions.
In case your bank account cannot be authorised through Ponto you can do the following:
The account needs to be opened for Open Banking. FOR ING user, this can be done at ING Netherlands with the Team Daily Banking. Report to this team or your ING account manager: It concerns access to an Open Banking integration with a 3rd party integrator who has a PSD2 licence (Ponto).
| Business Central SaaS Business Central On-Premises 15+ | No. of bank accounts | Yearly subscription – Price per month* | Initial set up fee |
|---|---|---|---|
| Small | 1 | € 22,50 | € 100 |
| Medium | 2 – 3 | € 38,50 | € 200 |
| Normal | 4 – 6 | € 75,- | € 200 |
| Large | 7 – 9 | € 97,50 | € 300 |
| Extra Large | 10 – 12 | € 150,- | € 300 |
| XXL | unlimited | € 200,- | € 300 |
| Ponto Account Cobase Bank Connector Account |
Contact sales@idyn.nl, visit the Ponto pricing page, or the Cobase Bank Connector info page | ||
| Direct Banking is available world-wide, Ponto connects only to EU banks, Cobase to EU and non-EU. | |||
*Standard yearly period, 25% uplift applies for monthly invoicing.