Ask a finance manager at a mid-sized company where they decide what to pay this week. They will name their accounting system: QuickBooks, Xero or NetSuite, or one of the 50+ others businesses keep their books in. That is increasingly where companies decide what to pay, what to hedge and how much cash they will have next month. Most banks are absent from those journeys. They still hold the accounts, but less and less the daily relationship, and the room to serve those clients with higher-value solutions is smaller than it should be. Most banks do not have a complete and consistent ERP connectivity offer to change that.
Today we are announcing a partnership with TreasurUp that gives business banks an ERP-embedded strategy, ready for execution. ERP-embedded banking means the bank's capabilities are available in, or right next to, the accounting and ERP system the client already works in, fully white-labelled and bank-branded.
TreasurUp, the Dutch channels solutions specialist for daily business banking, provides those capabilities: starting with account balances, payment orchestration and reconciliation, and enriched where the bank wants it with FX execution, FX hedging, cash flow forecasting and liquidity management. TreasurUp has built for banks, and only banks, since 2016, with a team drawn from bank treasury and commercial banking. Apideck connects the joint bank and TreasurUp capabilities to the full portfolio of accounting and ERP systems: one API that reads and writes data across 50+ systems with global coverage, and a pass-through architecture that keeps no copy of the client's books.
Niels van Daatselaar, TreasurUp's CEO and co-founder, on why banks should care: "Banks that are not present there risk losing flow or even the daily relationship. With Apideck we can provide a bank with a complete and consistent ERP embedded offer in months, in the bank's own brand, on top of the Transaction Banking and Markets channels that they already run."
What ERP-embedded banking looks like for the client
The finance manager connects the company's accounting system to the bank's embedded app once. From then on, approved supplier bills appear in the app as payment proposals for review and approval, and the payment status flows back into the books. Bank transactions land in the same accounting system's reconciliation screen as a bank feed. Foreign-currency invoices show up as an FX exposure with a hedging proposal that follows the company's own policy. The cash flow forecast is built from real receivables, payables and balances, with no spreadsheet upload. If the company changes ERP, it reconnects; the bank does nothing.
The split of work: the bank provides the accounts, the payment rails, FX pricing and liquidity products, and holds the client relationship. TreasurUp builds and runs the bank's ERP-embedded app, including the capability layer for the higher-value services, always connected to and integrated with the bank's own infrastructure. Apideck provides the ERP connectivity behind it: authentication, connection management, one data model for every system, and maintenance as those systems change. Where a platform runs its own partner or certification programme, we do the technical build and certification work and guide the bank through it.
What changes for the bank is the shape of the project. One integration replaces a separate project per ERP, additional connectors are added on request, and every part of the solution is composable and tailored to the bank's scope and requirements. The larger change is where the bank shows up. Instead of being relegated to a behind-the-scenes execution engine, the bank brings a fully bank-branded experience back to where the client works. We have written before about why that matters, in What is ERP banking? and in our look at multi-bank connectivity for treasury systems, which profiled TreasurUp's embedded approach before this partnership existed.
Where it is available, and how a bank starts
The joint solution is available to banks in Europe and North America now. In North America the first systems are QuickBooks Online, Sage Intacct, NetSuite and Dynamics 365 Business Central; in Europe, Exact Online, Twinfield, Yuki and Moneybird in the Benelux and Xero and Sage in the UK, alongside TreasurUp's bank footprint in the Nordics, Benelux and Germany.
A bank starts with an intake. The joint team then proposes a rollout plan and commercial terms based on the modules chosen and the expected number of connected clients. Both teams will be at Sibos in Miami Beach from 28 September to 1 October. If you run business banking, payments or treasury at a bank and want to see what an ERP-embedded app could look like for your clients, the joint solution page at apideck.com/partners/treasurup is the place to request a demo or a meeting.
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