Embat Acquires Necto To Strengthen Banking Connectivity

Madrid-based company Embat, which provides treasury management solutions, has acquired Necto, a United States company that connects banks through technology.

The company said the deal will help finance teams in medium and large businesses by improving banking connections through Necto’s system, which links with over 30 banks and nearly 100 services.

Embat said the move will help expand its global banking network. The company explained that with Necto’s technology, it will strengthen its banking infrastructure. It will also connect with financial institutions such as Deutsche Bank, Commerzbank AG, HSBC, Barclays, Citi, JP Morgan, and Wells Fargo. These banks have a strong presence in North America, Europe, and Asia.

Necto Joins Embat To Strengthen Banking Technology

Necto also shared the news, saying the acquisition marks an important step in its goal of improving bank connections around the world. The company said it had worked to ensure corporate bank technology was simple, safe, and easy to use.

The company added that joining Embat would help achieve this vision by bringing more growth, new ideas, and improvements in managing money and payments.

Embat recently secured funding to grow in international markets. The company raised money in a funding round and said it planned to use the funds to expand its presence in different countries.

Reports at the time described Embat’s system as a tool that helps businesses handle payments, collections, and treasury tasks in one place. The company’s system also automates accounting and bank reconciliations.

Embat Brings Simple Tools To Help Businesses Manage Money Better

These features allow financial teams to save time and gain a better view of company cash flow. It also helps businesses monitor their financial plans more easily.

Businesses that have not yet improved how they handle money can get better by using simple tools, according to a report by PYMNTS Intelligence and Citi.

According to the report, adding tools that check bank accounts automatically and show money data in easy charts can help finance teams work better with the systems they already use.

For many businesses, these changes are easy to do but can help a lot. Connecting all bank accounts in one place and using simple charts to understand money flow are small steps that can help companies handle their money in a better way.

By joining with Necto, Embat wants to help finance teams connect with banks more easily and manage money in real time. The company plans to keep working on improving bank connections so businesses can use them more simply and quickly.