FinLab AG: FastBill and Kontist launch the 'smart financial assistant' and offer the world's first live synchronization tool between an accounting and a banking solution

The FastBill scanning app sends a reminder to archive the invoice when paying with Kontist's Mastercard

The collaboration between FastBill and Kontist accelerates everyday accounting duties. Payments, which are processed with the Kontist Mastercard are synchronized to FastBill where they are matched to the according expenses. The new scan app by FastBill allows the scanning of receipts and invoices via photos and the immediate allocation to the corresponding accounts. The integration of both tools frees up as much as an entire day of work per month. All advantages at a glance:

• Bank transactions are matched to invoices and receipts immediately and automatically.
• Comfortable storing of receipts and invoices via the new FastBill scanning app on smartphones. A fully automated push notification reminder supports the user in maintaining the invoices.
• Kontist matches the receipt and invoices from the FastBill accounting software to the corresponding payment streams automatically.
• In order to optimize liquidity assessments, Kontist calculates the share of VAT and income tax on the invoices and receipts and automatically creates liquidity reserves.
• The manual and delayed matching of a transaction to the receipt, to the invoice and to credit card history is now obsolete.

"After the creation of online banking over 35 years ago, we are taking new steps today to offer entrepreneurs and freelancers a simple and time-effective solution for the matching of invoices to transactions. Customers get rid of the tedious tasks and are offered real time insights into their business finances. We do not want to be an administrative tool, but rather want to establish our products as active support in the everyday work life - that is our product and service ambition," said René Maudrich, Founder and CEO of FastBill.

The synchronization between FastBill and Kontist is two dimensional. Consequently, all invoices from the FastBill accounting and finance software are available to Kontist, and are immediately matched. "Imagine: While paying a taxi bill with your credit card, your cell phone reminds you to scan the invoice. The bill is uploaded directly into the accounting software and done!" explains Christopher Plantener, Founder and CEO of Kontist.

FastBill already offers the possibility to its clients to detect transactions from third-party bank accounts. However, this new cooperation is a groundbreaking step towards achieving the highest customer satisfaction and a more amiable user experience.

Pictures and Videos:
Video teaser (0:44Min): https://www.youtube.com/watch?v=YA3BoNa4FHY
Video extended (1:30Min): https://www.youtube.com/watch?v=9IGnZGkSwZI
Images: https://files.fastbill.com/index.php/s/4R0yRB2k7sTIBRn
 

About FastBill GmbH
FastBill GmbH is a pioneer in web-based financial management for small businesses and the self-employed. With its SaaS solution "fastbill.com", the company offers a platform to manage financial documents and data in one place, as well as interfaces suitable for data exchange with tax accountants and related services. FastBill combines invoicing, real-time banking and assistant services in one simple user interface. This hands-on solution helps clients always keep track of their liquidity, receive payments faster and get their accounting done automatically. FastBill's foundation is an internally-developed platform technology with a high degree of automation. Machine learning algorithms also provide for intelligent data analysis and smart assistant services. All data is processed and stored in high-security data centers in Germany. FastBill was founded in 2011 and currently employs 42 people.

Press contact FastBill GmbH:
René Maudrich
presse@fastbill.com
http://www.fastbill.com
Tel: +49 69 348 772 913
 

About Kontist GmbH
Kontist (https://kontist.com) is Germany's first banking solution tailored to freelancers and entrepreneurs. A seamless handling and top-notch user experience is achieved through a straightforward registration process on the mobile app as well as the automated creation and managing of business and tax accounts, such as: VAT, income tax, and input tax. The Kontist application grants real independence to entrepreneurs and allows a real-time overview of income, expenses and taxes. The Kontist GmbH was founded in Berlin in 2016 and entered a partnership with the solarisBank for the setup of bank accounts and with the Wirecard Bank AG for the issuing of the Kontist Mastercard. The team consists of 23 employees, who share a history of freelancing, and thus developed the product to match freelancer's needs.

Press contact Kontist GmbH:
Inga Clausen (Head of Communications and PR)
press@kontist.com
https://kontist.com/integrations/fastbill
Tel: +49 (0)1522 7978987
 

About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector in Europe. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Press contact FinLab AG:
investor-relations@finlab.de
http://www.finlab.de
Phone: +49 69 719 12 80 0