UBB’s digital business solutions support optimal cash flow management

Source: United Bulgarian Bank (UBB)

The banking sector is highly dynamic. The requirements of both individuals and business customers for flexibility, security, personal service, and the ability to save time and effort are becoming increasingly crucial in choosing a bank. The pandemic and the advent of new technologies have intensified these processes. The focus of UBB in Bulgaria, part of the Belgian KBC Group, is to develop and provide its business customers with flexible and affordable digital services to manage their cash flows and business processes independently and through their preferred channel, regardless of physical contact with employees of the bank.

The innovation aims at sustainable development and the provision of services that meet customers’ increasingly demanding expectations in terms of convenience, experience, and security. Business customers using UBB Online, for example, can obtain information about all active users directly in banking and regulate their access – to order payments from a convenient location and time. From the beginning of 2022, UBB customers can also quickly and easily sign documents created on UBB Online via their mobile phones. Signing in UBB Mobile is done through facial recognition/fingerprint or PIN.

API integration with ERP/accounting/systems of companies

From March 1, UBB’s business customers have the opportunity to integrate their ERP (accounting systems) with those of the bank. The UBB Integration service through API automates and optimizes cash management processes, enabling those business customers who use accounting, the management, or other types of software to integrate it with banking systems with high levels of security and standardization.

Developing the Integration through API UBB involved its business customers for timely feedback and tests of intermediate and final results. The continuous cooperation with them guarantees that UBB Integration through API anticipates the needs of the companies and the business processes in them to the maximum extent.

High efficiency and process optimization in an already integrated accounting system increase staff productivity and significantly reduce errors and omissions, allowing access to management and delegation of rights to the needs of the company and employee responsibilities. The experience of customers already using UBB Integration via API shows that automation optimizes the work process, saving at least 1 hour per day for their employees. In the first month of operation of the service, more than 20,000 requests were reported, guaranteed by the extremely high level of security of connection of the systems.

Among the other digital offers of UBB for business customers are the online-based platforms: UBB Digital Portal, UBB Trade Finance Portal, and UBB Trade Club. All of them meet different needs of the business segment: UBB Digital Portal, for example, allows them to order daily business products and services signed with QES entirely remotely, without visits to the bank’s offices. Through the UBB Trade Finance portal, customers can submit orders, again online, signed with QES, for Trade Finance products, at a  convenient location and time, through a secure channel.

UBB Trade Club, in turn, enables the good business customers of the bank to access advantageous market and trade information by countries and regions and to find potential international trade partners among the customers of other banks involved in the global initiative Trade Club Alliance. The unique business opportunity, part of UBB’s digital products, is another example that banking services are no longer only financially based; for market leaders; they are dynamic, complex, and with high added value.

The intensity of communication and the transformation in the needs and behavior of UBB’s business customers, supported by their positive feedback, is the basis for the constant development of the bank’s digital solutions and their upgrading with new functionalities. The goal is to achieve a combination of solutions that meet the business needs of banking and even non-banking services with a modern, digital customer experience that can be accessed through various secure and automated channels.


Source: The article by Manager.bg dated April 18, 2022