Ponto Announces Partnership With WeFact, a Dutch Invoicing Solution for Online Administrative Tasks

As the invoicing market grows, Ponto continues to gain popularity among international accounting software solutions. Thanks to Ponto's stable and secure API connections to 1,800 European banks, the Dutch invoicing solution, WeFact, recently announced their partnership with Ponto.

The online invoicing market is expected to continue growing at 21,5% year-over-year from 2022-2027 [1]. This trend opens new growth opportunities, but it also opens new challenges for finance solutions. For example, consumers are increasingly demanding faster integrations and fewer manual processes. New legislation also play an important role in changes in consumer habits. In fact, paper invoicing is being reduced as e-invoicing has become a mandatory standard in various countries in Europe [2].

WeFact has decided to start preparing for the future with a direct connection to the bank account using Open Banking APIs. Recently, they announced a new partnership with Ponto.

WeFact has been a prominent player in the Dutch market for over 17 years. Their invoicing solution is used by tens of thousands of SME’s and is partnering with over 700 accountancy firms. Ponto, a solution from Isabel Group, harmonizes individual bank APIs into a single and easy to use connection.

Through this partnership, WeFact has expanded their reach across Europe and become more cost-effective. Their customers now benefit from automatically linking their invoices to their bank accounts. Plus, they can keep up to date with administrative tasks, save time and minimize human error.

Ponto was among the first Belgium FinTech companies to receive permission and a PSD2 license from the National Central Bank of Belgium (NBB) to initiate payment transactions (PISP) and provide account information services (AISP). Via this license, Ponto’s partners and customers can access open banking data. This enables companies without a PSD2 license to offer their financial products in a legal and compliant manner without having to worry about the regulatory requirements themselves. Using Ponto’s PSD2 license, WeFact sped up their go-to-market and reduced the efforts associated with the registration and licensing process.

Roel Korting, CEO and Founder of WeFact: "We see an increasing need from entrepreneurs to process their basic administration with a user-friendly solution which is connected to their accountant's bookkeeping. This includes creating sales invoices, processing expenses and nowadays having a bank integration. Through our partnership with Ponto, we are able to give entrepreneurs real-time access to bank transactions and in the near future, bank payments directly within the administration in WeFact."

Marc Lainez, VP API Marketplace at Ibanity: “Our developer-friendly approach makes it easy for developers and software companies to integrate banking APIs into their products. We are proud that WeFact selected Ponto as their partner. We are looking forward to seeing open banking become a success for WeFact and Ponto."

About WeFact

WeFact is an online invoicing tool that has been specially developed for entrepreneurs to be able to do the administration themselves without accounting knowledge. No more errors and more time saving!  WeFact provides real-time insight in sales and expenses. WeFact works seamlessly with the most popular accounting software solutions. WeFact is trusted by tens of thousands of entrepreneurs and more than 700 accountancy firms.

About Ponto

Ponto is an API aggregator for Open Banking and finance services that is fast, secure, and developer-friendly. In just a few minutes, fintech companies can connect their customers' bank accounts and initiate payments with over 1,800 European banks. Always in line with PSD2 regulations, Ponto ensures smooth integrations, reliable API connections, and an expert tech team available to assist you 24/7. Sign-up and create new open banking services without effort!

[1] E-Invoicing Market Size, Share and Global Report, 2022-2027 (imarcgroup.com)

[2] Fasten the seatbelts for the Upcoming E-Invoicing/Real Time Reporting/SAF-T implementations (changes) in the European Union - VATupdate