What Is Open Banking and Why Integrate with ERP
Open banking is a financial technology model that enables banks to share customer data and financial services with third-party software through secure APIs. Through this model, businesses gain the ability to manage their bank accounts and financial transactions directly from their ERP systems. Traditional methods required logging into separate internet banking portals for each bank, downloading statements, and manually transferring this data into the accounting system. With open banking integration, all of these processes are fully automated.
In Turkey, the open banking infrastructure is supported by BRSA (Banking Regulation and Supervision Agency) regulations and a PSD2-compliant legal framework. Finrota, as one of Turkey's leading open banking platforms in this space, standardizes interbank data transfers. The Netekstre and POS Report modules offered by Finrota integrate a wide range of financial data into ERP systems, from account movements to credit card collections.
The most fundamental advantage that ERP-bank integration provides to businesses is the real-time management of financial data from a single center. The accounting department no longer needs to switch between different bank portals. Account balances, incoming and outgoing wire transfer details, check and promissory note collections, and credit card transactions are all monitored from a single screen. This saves time and significantly reduces the rate of human error.
Open banking integration is particularly indispensable for multi-branch retail businesses and wholesale companies. A company that processes hundreds of bank transactions daily faces serious delay and error risks when tracking these transactions manually. When Finrota integration is established through Nebim V3 ERP, all bank movements are automatically reflected in accounting records and current account reconciliation occurs in real time.
Another critical benefit of open banking integration lies in the area of audit and compliance. Since all financial movements are recorded in the ERP system, full backward traceability is ensured during independent audit processes. Which date, from which bank account, to whom, and how much was paid or collected can be reported within seconds. This transparency provides tremendous convenience for the business during both internal audits and tax audits.
Nebim V3 Finrota Netekstre Integration
Netekstre is one of the core modules of the Finrota platform and transfers bank account movements to ERP systems in a standardized format. When the Nebim V3 and Netekstre integration is established, movements across all of the company's bank accounts are automatically pulled into the ERP. This integration currently supports 13 major banks in Turkey: Garanti BBVA, Yapi Kredi, Is Bankasi, Akbank, Ziraat Bankasi, Halkbank, Vakifbank, QNB Finansbank, Denizbank, TEB, ING, Sekerbank, and HSBC.
One of the most powerful features of the Netekstre integration is automatic account movement matching. Every movement received from the bank is automatically matched with the current accounts in the ERP system. For example, an incoming wire transfer from a customer is automatically recorded to the relevant current account based on the invoice number or current code found in the description field. This matching significantly reduces the accounting department's daily workload and accelerates the current account reconciliation process.
Automated wire transfer management is another critical feature offered by the Netekstre integration. Businesses can create wire transfer instructions between different bank accounts through Nebim V3, and these instructions are transmitted directly to the bank via the Finrota API. In bulk payment processes, it becomes possible to initiate supplier payments from a single screen, authorize them through a payment approval mechanism, and automatically track whether the payment has been completed.
Current account reconciliation processes undergo a fundamental transformation thanks to Netekstre. In the traditional method, mutual balance verification with suppliers or customers would be performed at the end of the month via phone or email. With Netekstre integration, since bank movements are instantly reflected in the ERP, current account balances are always up to date. When any discrepancy arises, the system automatically generates an alert and notifies the relevant accounting personnel.
Check and promissory note tracking is also managed within the scope of the Netekstre integration. The collection status of checks submitted to the bank for collection, protested checks, and information about promissory notes reaching maturity are automatically transferred to the ERP. This allows the check and promissory note portfolio to be monitored in real time, and a reminder mechanism is activated for negotiable instruments approaching their due dates.
Bank-Specific Account Configuration
In Nebim V3, a separate cash register definition is created for each bank account and linked to the corresponding bank account on the Finrota platform. During configuration, the currency, branch code, IBAN information, and movement retrieval frequency are specified for each account. For businesses using multiple currencies, foreign currency accounts are defined as separate cash registers and exchange rate differences are automatically calculated.
The account movement retrieval frequency can be adjusted according to the business's needs. Hourly retrieval may be preferred for high-volume retail companies, while daily retrieval suits mid-sized firms. Outside the automated retrieval schedule, users can also manually update account movements at any time they wish.
POS Report Integration and Card Collections
In the retail sector, a significant portion of sales are conducted via credit cards and debit cards. For a store chain that processes dozens or even hundreds of POS transactions daily, tracking and reconciling these transactions is extremely critical. The Finrota POS Report module collects transaction data from all POS terminals in a centralized structure and transfers it to the Nebim V3 ERP system.
The most complex dimension of credit card collection tracking is commission calculation. Each bank applies different commission rates, and these rates vary based on card type (personal, commercial, international), installment count, and transaction volume. For single-payment transactions, the commission rate generally ranges between 1 and 2 percent, while for installment transactions it can rise to between 3 and 5 percent. The POS Report integration automatically calculates this complex commission structure and determines the actual collection amount.
End-of-day reconciliation is one of the most valuable outputs of POS report integration. At the end of each day, the system compares the total transaction amount processed through POS terminals, the confirmation amount received from the bank, and the sales records in the ERP. Through this three-way comparison, missing collections, unprocessed refund transactions, or duplicate charge errors are instantly detected. Store-level reconciliation reports are presented to the finance team on a daily basis.
Installment tracking holds special importance in installment sales. When a customer makes a payment in 6 installments, each monthly installment amount received from the bank must be tracked separately. The POS Report integration creates a maturity plan for each installment transaction and automatically closes the relevant record as installment payments are received. If any installment payment is delayed, the system generates an alert.
Multi-POS terminal management is also within the scope of the integration. POS devices belonging to different banks, terminals at different stores, and virtual POS transactions are all managed from a single center. Through Nebim V3 modules, separate commission rates can be defined for each terminal and bank-specific performance reports can be generated. Which bank's POS device offers lower commissions can be easily compared, enabling cost optimization.
POS Reconciliation in Refund and Cancellation Processes
In sales made by credit card, refund and cancellation transactions create a separate reconciliation layer. Same-day cancellations are processed directly through the POS device and reported to the bank. However, different-day refunds involve a more complex process: the refund amount is written as a credit to the customer's card, and this transaction awaits bank confirmation. The POS Report integration tracks refund transactions separately from sales transactions and verifies whether refund amounts have actually been transferred to the customer by the bank.
Cash Flow Management and Financial Reporting
The most strategic advantage that open banking integration provides to businesses is real-time cash flow visibility. When balances from all bank accounts are instantly reflected in the ERP system, the finance manager can view the company's total liquid assets from a single screen. This visibility is particularly critical for businesses that maintain accounts at multiple banks. Consider a business with 12 accounts across 5 different banks; in the traditional method, checking the current balances of these accounts required logging into 5 different internet banking portals. With open banking integration, all balances are displayed instantly in a single table.
Cash flow projection enables forward-looking forecasts based on the data provided by the integration. Open orders in the ERP system, checks reaching maturity, planned supplier payments, and expected customer collections are combined to create a cash flow forecast for the upcoming week, month, or quarter. This forecast allows the business to identify its financing needs in advance and apply for financial instruments such as bank loans or factoring in a timely manner when necessary.
Bank-specific reporting enables measuring the performance of the relationship with each bank. The volume processed through each bank, bank-by-bank commission cost comparisons, the total amount of EFT and wire transfer fees, and the distribution of loan interest expenses are reported in detail. These reports serve as a powerful bargaining tool in bank relationship management. A high-volume business can use this data to request lower commission rates and more favorable credit terms from banks.
Foreign currency position management constitutes a separate reporting dimension for businesses engaged in imports or international sales. Balances in foreign currency accounts, open foreign exchange positions, exchange rate risk amounts, and the status of forward currency purchase and sale contracts are monitored on a single dashboard. The potential impact of exchange rate fluctuations on the business is evaluated through scenario analyses, and risk management strategies are determined in light of this data.
Consolidated financial reporting is particularly valuable for group companies or businesses with a holding structure. While each company's bank accounts are tracked separately, group-level total cash position, intercompany fund transfers, and consolidated cash flow are presented in a single report. This reporting supports senior management's strategic financial decisions and makes the group's overall financial health visible.
Integration Setup and Techiz Support
Although the Finrota integration setup is a technical process, it is carried out systematically by Techiz's experienced team. The setup process generally consists of five phases: needs analysis, bank account configuration, API integration, testing and validation, and go-live. The entire process is completed within an average of 5 business days and is carried out without disrupting the business's daily operations.
In the first phase, Techiz consultants analyze the business's existing bank structure. The number of accounts across how many banks, average daily transaction volume, number of POS terminals, and payment methods in use are identified. Based on this analysis, the integration scope and configuration parameters are finalized. The business's accounting processes are examined, and automatic matching rules and current account reconciliation parameters are defined.
During the bank account configuration phase, the necessary authorizations are set up on the Finrota platform for each bank. API keys provided by the bank are introduced to the system and security parameters are configured. At this stage, connection tests are performed in coordination with the bank's technical team. Since each bank's API structure differs, Finrota's standard interface hides these differences and provides a uniform data flow on the ERP side.
During the testing phase, validation is performed with real bank data. Detailed checks verify that account movements are pulled correctly, current account matching works properly, commission calculations are consistent, and reports produce expected outputs. Any discrepancies identified during testing are corrected and necessary fine-tuning adjustments are made.
After go-live, Techiz provides user training and first-month support services. The accounting and finance team is trained on the use of Netekstre and POS Report modules, reporting tools, and troubleshooting methods. Priority support is provided for any issues encountered during the first month, and configuration updates are made when necessary. With the ongoing maintenance and support service offered by Techiz, the integration is regularly updated in line with bank updates and new features.
Conclusion
Open banking and Finrota integration fundamentally transforms the financial processes of businesses using Nebim V3 ERP. With Netekstre, account movements from 13 banks are automatically retrieved, current account reconciliation occurs in real time, and wire transfer operations are managed through the ERP. POS Report integration automates credit card collections, commission calculations, and end-of-day reconciliations. With cash flow projection and bank-specific reporting, finance managers make data-driven decisions. At Techiz, we deliver end-to-end Finrota integration setup, strengthening your business's financial operations with training and ongoing support.
Want to evaluate your business's bank integration needs? Contact us for a free open banking integration analysis.
