Significantly improved transparency of cash is one of the results, with virtualised bank accounts and visual representations of cash balances across a world map. Efforts are now ongoing to link providers into the systems via application programming interfaces (APIs). A platform will be built on software to take control of the inflows of data in a “bank agnostic” way.
Consolidating the overview of bank fees is another ambition … but this is quite a challenge, as banks usually don’t offer coherent reports on them.
Hallvard Bokn Eikeland is Equinor’s Head of Cash Management Infrastructure.