- August 11, 2022
- Tech
- Data
- Cloud
- Luxembourg
- Security
- Startup
- Development
- Digital
Fintech company A352 has developed the Financial Navigator – a cloud-based software solution to simplify and optimize financial management of Mid-Caps and SMEs. The solution is a hybrid of Treasury Management and Corporate Performance Management Solutions which creates transparency and reduces risk exposure for its clients. A352’s clients can connect all existing bank accounts to manage their cash centrally and reliably.
The Luxembourg government supported the product development
through the “StartupsVsCovid19”
program. CentralNic Group PLC, one
of the globally leading Internet infrastructure service providers, together
with its Luxembourg-based financial holding, is a lead customer for A352's new
Financial Navigator solution.
For many financial management and treasury professionals,
manual processes are a significant hurdle to efficient daily processes.
Distributed information is often manually merged in complex Excel files, which
is both error-prone and time-consuming. Companies search for smart and scalable
solutions to automate and accelerate their processes, which ultimately results
in cost savings, risk reduction and enhanced decision making.
The need for a comprehensive financial management
solution on the market
A thorough analysis of the market requirements led to the
conclusion that most products only partially address companies’ needs with
specialized solutions. What is lacking in the market, is a product with a rich
feature set that enables both Treasury and Financial management activities.
Particularly, Mid-Caps, SMEs and financial holdings, which are an essential part
of the Luxembourgish economy, are underserved and mostly rely on manual work.
In the light of more complex market environments, businesses
are looking to become more robust through process standardization and
automation and creating transparency for all stakeholders. This can be achieved
through fitting software solutions.
A352: Creating a comprehensive financial management
solution
The Fintech company A352 started to develop the Financial
Navigator last year to address the market demand. The founding team has levered
its prior 10 years of experience of having built Mercedes pay (former PayCash),
one of the first e-money institution regulated in Luxembourg and grown it until
a successful exit to Daimler AG. This expertise has proven valuable in designing
and building reliable and scalable financial technology product, the company
has developed an intuitive and secure financial management solution.
The product requirements were defined in cooperation with
CentralNic Group PLC, one of the world’s leading Internet infrastructure
service providers and Francois Masquelier, the president of the Luxembourg
Association of Corporate Treasurers (ATEL). The long-term goal of the solution
is to build a fully integrated, cloud-based financial management platform hosted
in a Software-as-a-Service (SaaS) setup, as the central point of financial
management tasks.
The project is supported by the Luxembourg government, as
A352 received the “StartupsVsCovid19” grant in April 2020, and has been awarded
as one of 15 selected innovators building solutions that help business to
become more robust in times of crises and more challenging market environments.
How A352 Financial Navigator supports CentralNic’s
ambitious acquisition growth strategy
Established in 1995, CentralNic Group PLC (AIM: CNIC) is one
of the world’s leading Internet infrastructure service providers with USD
241.2m revenue in 2020. Its mission is to enable the global online economy to
reach its full potential by providing a platform and connecting customers and
tools to realize their online aspirations.
Process automation and harmonization aim to enhance
forecasting, payment, and compliance processes, mitigate risks, and accelerate
their growth. CentralNic chose the Financial Navigator as their treasury
management solution. A352's new Financial Navigator solution supports the
treasury and finance departments with the necessary tools to realize the
company’s goals.
Dr. Jürgen Wolff (photo, right), CEO of A352 stated: “We believe
that our Financial Navigator can fill the market gap of powerful financial
management software for Mid-Caps, financial holdings and SMEs in Luxembourg.
Many finance and treasury professionals seek to enhance and automate their
processes to gain efficiencies and prepare their companies for ever more challenging
market conditions. The broad feature set of the Financial Navigator and its
excellent banking connectivity allows clients to immediately enhance their
liquidity and financial management capabilities. We are eager to further
advance our product and help the Luxembourgish financial ecosystem with our
solution.”
Press release by A352