Penta Bank and Wavy
Category: WavySys News
Penta Bank and Wavy
When did banking actually started?
Let’s read about Wavy and Pentabank!
The first banking activities are traced back to the Babylonian time, in 2.000 B.C, where it was possible to get loans in cereals. But if transactions and money are very ancient, the modern bank, more as we know it, appeared more recently. It was during the industrial revolution during the 19th century that the first banks appeared (Deutsche Bank, Barclays Bank etc…).
And since then,
Banking activities may fundamentally remain the same but the tools banks use and their clients’ needs have changed.
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Living in a digital world
Digital has its way of..
Making everything connected together, and to make communication and transfer of information almost immediate. But this doesn’t mean that mastering digital in business is easy. What we keep saying here at WavySys is that digital is a tool you use to make life easier. Digital has the power or potential to radically change the business model of any market.
Take for example, the case of Airbnb. In that context, digital brought the possibilities to connect individuals together and provide a new source of income. And whether we like the idea or not, digital answered a hole in the market: in big cities, Airbnb answered the need for a saturated short-term accommodation market. Called sometimes uberization, digital are truly changing markets. And step by step it’s affecting every area, banking activities included.
Wavy GmbH and Penta Bank
Neobanks, digital banks, non-traditional banks etc… These are different terms used to talk about the new bank generation. Though there exists some differences between those terms, it all lies in the use of new technologies.
Nowadays, as an individual, we can do daily banking operations very smoothly and easy-to-do. You can subscribe online in less than 10 minutes, and get your credit card the day after, you can subscribe or cancel contracts on you mobile phone. You can send money to anyone with just one text message etc…
And this flexibility and ease of use brought to individuals were also made available to professionals, for business account. Penta is currently offering 100€ for any new business account opening. If you are interested, use our link!
According to Mark, Wavy's CEO
Founding WavySys meant that all processes were still to be made and that many uncertainties remained due to fast evolution as a startup. When you don’t have a clear view of how it’s going to evolve, you want to have as a basis, tools that give enough flexibility to shift directions. For example, you want less red tape if you have 3 new employees needing credit cards, or you want to spend less time with your tax advisers asking for external corporate expenses made by your employees.
If new features in banking 2.0 can be relevant to any businesses, they are even more when it comes to the startup world. Speed, flexibility and reliability of service, are three main aspects startupers care about when launching their businesses.
And there are different banks offering such possibilities, but because we have a great experience with Pentabank, we think it is worth sharing.
Simplicity and speed of financial business operations along with an effective customer service. 100% secure, you can open an account in 10 minutes and get an IBAN along with credit cards for your employees. The service comes with an easy tool for managing accounting and bookkeeping.
Digital in the service of banking activities, really do ease business operations. By giving, customized features, speed and security, Penta provides reliability and credibility to your business. And coupled with a CRM, you already have a good basis to get your activity going.