With Bank Connect, you get an integration between SAP Business One and your bank. Bank Connect is a common standard for exchanging information between ERP systems and banks.
Bank Connect automates processes for payment and reconciliations based on account statements and notifications. The solution can be used at more than 60 financial institutions.
Bank Connect is a collaboration between the Regional Bankers Association, Local Banks and the three data centers (SDC, BEC and Bankdata). With this collaboration, a standardized solution has been created that can be used at many different banks. In other words, you are not tied to one bank.
Bank Connect together with SAP Business One, is streamlining your process for payment and reconciliations.