EBICS and Odoo

In an increasingly digital context, international companies face specific challenges in managing their financial flows. Bank connectivity in particular is complex, especially when some banks, such as those in Switzerland, are not covered by Open Banking solutions. This limits companies in automating their transactions, a process that is nevertheless essential for managing cash and financial flows effectively.

The finding: the limits of Open Banking solutions

At Auguria, we ran into this problem while working with a customer whose main bank is Crédit Suisse. The most commonly used Open Banking solutions, such as Ponto, SaltEdge or EnableBanking, perform well for banks in the European Union. However, none of them supports Swiss banks, leaving companies with banking needs in that country without a suitable solution. This lack of coverage seriously limits international companies that want to automate their bank flows across several countries.

The EBICS alternative: a reliable, secure solution

Faced with this challenge, EBICS (Electronic Banking Internet Communication Standard) proved to be the most suitable solution. EBICS is a banking communication protocol originally developed in Germany and France that quickly became a reliable standard for managing international banking transactions. This protocol stands out for several advantages:

• Enhanced security: EBICS uses advanced encryption protocols, guaranteeing the security of communications between the company and its bank.
• International compatibility: Unlike Open Banking solutions, EBICS is widely supported in countries such as Switzerland, offering a solution to companies with international needs.
• Flexibility: EBICS can handle various types of transactions, whether transfers, direct debits or bank statements, all integrated into an ERP such as Odoo.

For international companies like those we work with at Auguria, EBICS has become an essential solution to overcome the geographic limits imposed by traditional Open Banking solutions.

The EBICS module developed by Noviat

Integrating EBICS with Odoo is easy thanks to the modules developed by Noviat. This company is an Odoo integrator that specializes in developing bank connection modules. Their EBICS module offers immediate compatibility with the main European and Swiss banks.

The setup steps are simple but essential to ensure a successful integration:

1. Subscribe to an EBICS contract with the bank: This step is required to obtain the identifiers and security keys needed for the connection.
2. Acquire an EBICS Fintech license: This license allows the use of EBICS protocols for bank communication.
3. Install Noviat's EBICS modules: The modules are available on GitHub and integrate directly into Odoo.
4. Configure the interface: Once the modules are installed, a few configuration steps are needed to set up access and bank flows. At this stage, Noviat's expertise was crucial in ensuring a fast, effective setup.

Thanks to this methodical approach and Noviat's assistance, the integration with Crédit Suisse went smoothly, and our customer was able to automate its bank transactions securely.

Lessons learned: a successful project and skills growth

This first EBICS integration for a Swiss customer let us take on several challenges and strengthen our expertise in managing international financial flows. For Auguria, it is a strategic step forward that opens the way to new opportunities with companies that have similar needs outside the European Union.

We not only met our customer's specific needs, but also gained valuable skills in optimizing complex banking processes for companies operating in several markets. This project highlighted the importance of adapting our tools and knowledge to international challenges, well beyond the more traditional cases we encounter with purely domestic French companies.

Outlook: the necessary evolution of banking solutions

This experience shows that Open Banking solutions urgently need to evolve to include non-EU countries such as Switzerland. Although outside the EU, this country remains a central economic player for many international companies. As long as Open Banking solutions do not cover these regions, alternatives such as EBICS will continue to play a crucial role.

At Auguria, we will continue to explore and develop solutions tailored to the needs of our international customers. EBICS, as a flexible and secure solution, will remain at the heart of this strategy until global bank connectivity becomes uniform.