Penta Offers Digital Accounting, Receipt Services

Customers of digital business banking platform Penta will now have the option to manage accounting and receipts digitally as the company partners with Germany-based DATEV Marketplace, a company news release stated.

By being able to access proprietary accounting digitally and directly from their business accounts, Penta customers will now be able to achieve a “perfect symbiosis” between banking and accounting, the release stated.

The move is touted in the release as Penta’s attempt to help out larger companies that have more complex accounting needs and higher numbers of employees.

Penta customers can now attach their receipts directly to any bank transaction, synchronizing them to files like a monthly statement. Linking that kind of document to the DATEV Unternehmen through the DATEVconnect online interface, users will have the ability to hand over documents quicker and easier to tax accountants, according to the release.

Lukas Zörner, chief product officer and managing director at Penta said in the release that the majority of German tax consultants work with DATEV, and Penta is the first digital banking platform to create a service that brings banking and accounting together.

In separate news, Penta also began accepting overnight and term deposits from WeltSparen in a bid to boost customers’ interest rates, PYMNTS reported. That comes about through a partnership with FinTech Raisin, allowing customers to dodge negative interest rates and invest surplus liquidity. With WeltSparen, companies will also be able to close and manage multiple investments during the same login and access fixed-term deposits and overnight money offers in various capacities.

Jessica Holzbach, co-founder and chief customer officer of Penta, said the service would be able to boost situations with negative interest, such as those after financing rounds from younger companies.