Kloo for Certinia: Embedded Payments

January 23, 2024
Kloo for Certinia: Real-Time Embedded Payments with Open Banking
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In the ever-evolving landscape of financial management, the integration of payment systems within Accounts Payable (AP) solutions has become a crucial aspect for businesses seeking efficiency and innovation. While Certinia has established itself as a robust platform for managing financial processes, there is room for modernisation in its payment systems. This is where Kloo's integration with Certinia brings a transformative solution: real-time embedded, in-platform payments. 

Payments in Certinia 

Payment processes in Certinia typically involve the generation of BACS 18 files, which are then manually uploaded via a banking interface. This process, while functional, lacks the efficiency and seamlessness that modern businesses require. The manual intervention required in this system can be time-consuming and prone to errors, potentially leading to delays and financial inaccuracies. 

Open Banking with Kloo

Kloo's integration with Certinia fundamentally changes this dynamic by enabling the creation and execution of payment runs directly through Open Banking. This innovative approach offers several key benefits: 

  • Streamlined Payment Process: With Kloo, the entire payment process becomes more streamlined. Users can create and execute payment runs directly within the platform, eliminating the need for manual file uploads and reducing the scope for errors. This embedded payment system allows for a more efficient workflow, saving time and resources. 
  • Automated Remittances: When a payment is executed through Open Banking within the Kloo system, the corresponding invoice is automatically marked as paid, no manual coding necessary. Organisations can also configure payment remittances to be automatically sent to suppliers following payment, ensuring suppliers are aware that the invoice has been paid. 
  • Real-Time Transaction Capabilities: The use of Open Banking in Kloo's system facilitates real-time transactions. Businesses can now execute payments instantly, improving cash flow management and enabling quicker settlements with suppliers. This immediacy is crucial in today’s fast-paced business environment, where delays can have significant impacts. 
  • Enhanced Security and Compliance: Open Banking is known for its security standards and compliance with financial regulations. By integrating this technology, Kloo ensures that the payment process is not only efficient but also secure and compliant with the latest financial regulations.  
  • Improved Financial Visibility and Control: The embedded payment system within Kloo provides real-time visibility into payment statuses and financial positions. Businesses can have better control over their finances, with up-to-date information available at their fingertips. This level of visibility is crucial for effective financial planning and decision-making. 

Key Takeaways: 

Harnessing the power of Open Banking, Kloo offers a solution that is not only more efficient but also aligns with the evolving needs of modern businesses. This integration is a testament to the potential of innovative technology in transforming traditional financial processes, paving the way for more streamlined, secure, and effective financial management. With Kloo for Certinia, businesses are well-equipped to handle their financial operations with greater ease and confidence, ready to meet the challenges of a dynamic economic landscape. 


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