Pennylane Wallet simplifies the lives of entrepreneurs and accountants

Pennylane, a fast-growing French Fintech, has solved a UX conundrum with Pennylane Wallet, facilitated by Swan's Banking-as-a-Service. Paying company bills is now quick and easy.

Sarah Wachter
June 4, 2020
3 min read

Hey entrepreneurs, paying bills is finally easy!

Entrepreneurs dedicate about 10 hours weekly to making manual entries of their invoices, says Pennylane. That's a good chunk of time that could be put to better use.

Pennylane, a fast-growing French fintech, solves this by automatically identifying and pre-filling invoice info. Now, they've taken things even further with Pennylane Wallet, facilitated by Swan's Banking-as-a-Service platform.

The user experience for paying bills has been broken for a long time.

This is especially frustrating for entrepreneurs who, along with everything else they do, have to deal with everything related to finance, administration, HR. Bills, bills, bills! Lots of great software solutions already help with this, but they require you to frequently leave their platform to confirm payments on your own exterior banking app. It's a waste of time.

Pennylane has solved this UX conundrum by linking with Swan's Banking-as-a-Service, to create the Pennylane Wallet. ⚡

Their clients confirm it's a killer feature. By linking accounting to banking services, Pennylane Wallet drastically lightens the load of companies' operational management.

Nicolas Benady, CEO of Swan said:

“Thanks to Swan's payment APIs, Pennylane's clients don't have to constantly bounce back and forth between a banking app and their accounting solution. They can execute and automize their payments, in a streamlined, elegant way, directly from Pennylane.”

Pennylane Wallet is totally safe and secure

Swan is proud to help facilitate this much-needed product, through our Banking-as-a-Service platform. We are regulated by the French regulator, ACPR, and provide similar guarantees to a traditional bank. In other words, all money deposited in a Pennylane Wallet is totally safe and secure. 🤗

Pennylane Wallet lightens the load for business leaders and accountants

Paying bills is easier and simpler than ever before.

  • Payments are centralized in one place. You can pay for them all with one click (even if they are for a bunch of different suppliers). No need to connect to a separate banking account to pay for each bill one by one. Finally!
  • Differed payments: Pay the same day, on the due date, or any other date you choose. This also lets you process your bills and plan their payment all at once. You won't have to deal with it later!
  • Bills are automatically reconciled with their payments, thanks to a unique identifier associated with the transfer order.
  • Basically, as soon as a transaction appears on a business leaders' Pennylane Wallet, their accountant has access and can see which bills correspond. No more sifting through lists and lists of payments, looking for typos.

Arthur Waller, CEO of Pennylane said:

“The innovation permitted by Swan's technology fits perfectly with our commitment to meet entrepreneurs need for simplicity and practicality in running and managing their businesses. The Pennylane Wallet drastically changes the way bills are managed, saving time, and significantly lightening the mental load of entrepreneurs' and their accountants.”

This initial partnership with Pennylane has been invaluable to Swan. We're all on the same side, building up a solid product that business leaders and accountants really need. Pennylane has helped us to improve our own platform with consistently relevant feedback. And it's great to witness them progressively add even more value to their customers, sprint after sprint. What's up next? They'll soon be adding incoming invoice reconciliation and expense card management to the Pennylane offer!

Thank you, Pennylane, we look forward to watching your Pennylane Wallet grow.💰

Sarah Wachter
June 4, 2020
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