00:05 Hello. Hello. Hello.
00:08 My name is Gosia, I'm a cofounder of Fena
00:11 and I tend to talk about open banking.
00:14 And today I'm going to talk about bulk payments.
00:17 I know, super exciting.
00:19 I think first and foremost, let
00:22 me explain what bulk payments are.
00:26 So bulk payments is an ability to
00:30 process multiple payments with one authorisation.
00:35 Effectively, that's pretty much this
00:38 sentence summarises it all.
00:41 What are the use cases of bulk payments?
00:45 For instance, if you're a business, you
00:47 need to pay multiple suppliers for the
00:51 goods or services they provided to you.
00:54 You need to process the invoices.
00:57 And for instance, you have let's say, 15
01:00 invoices due on the 10th of each month.
01:03 So what you can do, you can select
01:05 all those 10th invoices within our Fena system.
01:09 You say, I want to process
01:10 payments for those ten invoices.
01:14 And then you generate one authorisation link.
01:17 When you click on that link, it takes you
01:20 to your banking app, online banking, and then you
01:24 just authorise the payments to all the 2015 businesses,
01:30 depending how many you had in the payment run.
01:33 And those payments just go through.
01:36 No need to do multiple payments, no need
01:39 to 20 times authorise the bank transfer.
01:43 You just do it with one click.
01:45 That's the big beauty of bulk
01:48 payments, build on open banking.
01:50 It just saves you time and
01:52 automates some of your payment processes.
01:57 So as I mentioned, vendor payment is one
01:59 of the use case of bulk payments.
02:02 Another use case of bulk payments
02:04 is actually, for example, processing payroll.
02:07 Let's say we have a client, they have a
02:10 gym, they pay, I think, 26 different gym instructors.
02:16 They need to pay them at the end of the month.
02:18 So they need to process a payroll.
02:21 They get payroll information straight to Fenna and
02:24 then just compile a payment link for the
02:27 authorisation and they authorise on the banking app
02:31 all 26 payments for payroll without any mistakes
02:35 with the right correct references with one click. Done.
02:41 What in the past took them about 1 hour,
02:44 20 minutes, now takes them less than a minute.
02:48 And that's the rest of time can be
02:51 spent on things that really matter for businesses,
02:54 which is building the business, scaling up, getting
02:57 sales and growing the business.
03:01 As I mentioned, this is going to be super short video.
03:04 It's a super easy to understand feature.
03:06 If you're interested in trialling this feature, either
03:09 leave your comments in the comment section below
03:12 or email firstname.lastname@example.org.
03:15 And we will be in touch to set up a trial for you.
03:19 In the meantime, have a lovely
03:21 day and I'll see you soon.