24SevenOffice has signed a partnership agreement with the Norwegian bank, BRAbank ASA. Thanks to this partnership, 24SevenOffice has a strong partner with the required banking licenses in order to continue to provide financial services to its existing customers and to new customers. The partnership agreement covers both the possibility of providing financial services on Pay by 24SevenOffice technology and via the 24SevenOffice ERP system.
âI am pleased to report that we have secured a banking partner for our continued work to help businesses meet their financing needs in a much simpler and more flexible way than what exists in the market today. Our vision and strategy for financing businesses through integration with 24SevenOffice remains a huge new revenue opportunity, âsays CEO Staale Risa in 24SevenOffice Group AB
The first market for the launch is Norway. However, BRAbank has the licenses required to operate in Sweden also. Business terms with profit margins on financial services such as invoice financing, deferred payments and Pay by 24SevenOffice are competitive. The margins are however lower in the partnership agreement with BRAbank that we had with Optin Bank.
BRAbank ASA has a top tech stack, however, it sits on a different platform than Optin Bank which requires new technical integrations. After finalizing the terms and conditions of business, we will now begin technical integrations and expect the first financial services to be launched within one to two quarters.
On BRAbank ASA
BRAbank ASA is a Norwegian digital bank offering consumer loans, savings accounts, automated bill buying and financing for SMEs operating in the Nordic market. The bank is listed on Euronext Growth in Oslo
On 24SevenOffice Group AB
24SevenOffice’s vision is to empower businesses for the future, delivering world-class cloud-based business systems. The system is currently used by 64,200 companies, with PwC, among others, as an accounting partner. The enterprise system is module-based, where the modules are delivered independently or as complete solutions. For more information see www.24sevenoffice.com
For more information, please contact:
Risa stele, CEO
Phone. : +46 70-023 63 03, [email protected]
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