Direct Banking faqs

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Which processes can I automate with Direct Banking?

There are two processes. The bank statement process and the payment process. Both are explained in our demo video (W1).

Ponto is a PSD2-based open banking service developed by Isabel Group, a Belgian fintech company originally founded by major Belgian banks.

What it does: Ponto acts as a secure connection layer between business software (like Business Central) and banks, using the PSD2 regulation that requires banks to open up their data via APIs. It allows companies to:

  • Automatically import bank statements
  • Initiate payments directly from their software
  • Connect to multiple banks via a single integration

Ponto has 2,000 European banks available on their platform that Business Central can integrate with through Direct Banking.

 

Cobase is a global banking connectivity platform that serves as a single point of access to all your banks and accounts. It enables businesses to connect with over 20.000+ banks across 90+ countries, consolidating payments, cash management and treasury operations in one secure platform.

Cobase for multiple banks or operating internationally
For Direct Banking users in Business Central, Cobase is the ideal solution for organisations that work with multiple banks or operate internationally. Through the integration between Direct Banking and Cobase, you can manage all your bank connections, bank statements and payment flows directly within Business Central — regardless of which bank or country you operate in.

A complete list of all banks can be found on the Ponto website. For Cobase almost all banks are available to connect. This includes all business banks in the world. Direct Banking is available worldwide with the W1 localization. Next to that, Direct Banking is currently also available for NL and BE localization in Business Central.

Major Dutch and Belgium banks that can be integrated via Direct Banking include ABN-AMRO, BNP Paribas Fortis, Rabobank, ING, Belfius, Triodos, SNS Bank, Argenta, RegioBank, ASN Bank, Knab, Bunq, AXA Bank, DHB, Van Lanschot,  BNG Bank and KBC Bank etc.

Ponto is the right choice when your organisation has straightforward banking needs within Europe. Consider Ponto if one or more of the following applies to your situation:

  • You work exclusively with European banks and IBAN-to-IBAN payments
  • You have a limited number of bank accounts
  • You are looking for a low-cost, easy-to-implement solution
  • You want to get up and running quickly, Ponto can be set up within hours via online onboarding
  • Your organisation is a small to medium-sized company

Ponto pricing is transparent and pay-per-use: per bank account per month and per single payment and per payment batch.

If your banking requirements go beyond Europe or require advanced financial functionality, Direct Banking with Cobase may be the better fit.

Not sure which solution fits your organisation? Contact us at sales@idyn.nl and we’ll be happy to help.

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.

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.

Yes, payment providers like PayPal and Mollie are available to integrate with Direct Banking via the Ponto Portal. A complete list of all banks can be found on the Ponto website.

Direct Banking connects to your bank through Cobase, a leading global banking platform. Through Cobase, Direct Banking gives you access to over 20,000 banks globally, supporting both domestic and international payments.

Cobase is the right choice when your organisation has more complex banking requirements. Consider Cobase if one or more of the following applies to your situation:

  • You work with banks outside of Europe or require international payments
  • You have multiple legal entities or a large number of bank accounts
  • You need flexible and advanced payment authorisation workflows
  • You require additional financial functionality such as cash management, liquidity forecasting, cash pooling, or in-house banking
  • Your organisation is a medium to large-sized company

If your banking needs are primarily within Europe and relatively straightforward, Direct Banking with Ponto may be a more cost-effective alternative.

Not sure which solution fits your organisation? Contact us at sales@idyn.nl and we’ll be happy to help.

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. In this video we explain the Ponto onboarding.

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.

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.

Yes. Cobase meets the highest security standards in the financial industry. The platform is certified under ISAE 3402, SOC 2 Type II and ISO/IEC 27001, ensuring that your banking data and payment flows are handled with the utmost care. In addition, Cobase is part of Corpay, Inc. (NYSE: CPAY), a publicly listed company subject to strict regulatory oversight.

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.

With Cobase, all payments from Business Central are exported to the Cobase portal. Within this portal, the payments can be authorised by designated user(s). Cobase then submits the payment pre-mandated to the bank, and the bank executes the payment. In this process, no one needs to log in to the bank portal any longer. Bank credentials for these users are therefore no longer required.

You will receive an invoice from Ponto or Cobase for the activated bank accounts. And you will receive an invoice from idyn or your Microsoft partner for using the Direct Banking extension.

 

If you want to use the Dutch or Belgium version of Direct Banking (NL or BE), you only need to install this app. The Direct Banking app will be installed automatically if you choose Direct Banking NL or Direct Banking BE.

For the Dutch version: Marketplace
For the Belgium version: Marketplace

Direct Banking is available for both Business Central SaaS and Business Central On-Premises deployments. For On-Premises environments, we follow Microsoft’s Modern Lifecycle Policy for Business Central. This means that Direct Banking On-Premises is supported for the three most recent Business Central versions and can be downloaded through My idyn.

If you require a version for an older Business Central release, please contact us at sales@idyn.nl.

 

In case your bank account cannot be authorized through Ponto you can do the following:

The account needs to be opened for Open Banking. For ING Inside Business users, 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 license (Ponto).

Visit our Solution Center at https://www.idyn.nl/support/ for product explainer videos, installation videos, documentation and FAQs.

If you have support questions or need direct assistance, please go to our support portal at https://idyn.atlassian.net/servicedesk/customer/portals.

Direct Banking supports the following journals within Microsoft Dynamics 365 Business Central: for International (W1): the Payment Reconciliation Journal, Bank Account Reconciliation and Payment Journal; for The Netherlands: the Bank/Giro Journal and Telebanking; and for Belgium: the Payment Reconciliation Journal and EB Payment Journal.