Insight & Analysis

Press release: easyJet adopts The B2 Group Multi-Bank Integrator automated banking platform

Published: May 2018

Multi-Bank, a 5th generation platform based on two decades of experience and launched at the start of 2016, enables corporates to automatically connect with their banks for processing of payments and statements, providing a single point of access and cash management portal. The fully managed Multi-Bank service already boasts an ever-growing global clientele of subscriber institutions, including major multi-national corporates and insurers, as well as a rapidly expanding community of partner banks connected to the platform. Outgoing payments and incoming statements are processed automatically via secure links with the banks to deliver fast and tangible benefits, including; automation of incoming statements, “smart” reconciliation of credit and debit payments, real-time enterprise-wide cash visibility, automation of complex business processes such as supply-chain finance, cash pooling and sweeping, and controlled automation of outgoing accounts payable, payroll and treasury payments via a real-time portal. Multi-Bank also fully integrates with most ERP and TMS platforms, to provide true end-to-end processing, with associated cost savings through reduced back-office headcount.

Mike Hirst, Director of Treasury and Tax at easyJet comments:“The Multi-Bank platform provided the efficiencies we were looking for, giving us of a one-stop-shop cash management tool and automation with multiple banks, and the B2 team brought invaluable expertise and experience to make the project a success. We now look forward to realising the benefits of Multi-Bank and to automating additional processes across the platform going forward.”

easyJet will ultimately use Multi-Bank to process a wide range of disbursements, with the platform connecting to both easyJet’s internal ERP and other systems as well as its outsourced TMS platform. easyJet back-office staff will be able to access the Multi-Bank Real-Time-Console to control outgoing payments and gain real-time enterprise-wide cash visibility via a single, secure portal. Automated communication with different banks will be handled seamlessly by the platform, with easyJet sending payments and receiving statements via a single secure file-based interface with Multi-Bank.

Phil Boland, CEO, The B2 Group commented, “We are delighted to count easyJet as a Multi-Bank user. They are an important client that requires the very best from a provider such as B2, and their choice of Multi-Bank is a testament to the business benefits, flexibility, ease of use, resilience and security of our platform”.

For all enquiries or queries about B2 and Multi-Bank, please contact The B2 Group.

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