Bucharest, 27 October 2026
Finqware, a pan-European payment institution and provider of Open Banking infrastructure for businesses, announces the integration of its FinqData solution into FGO, a Romanian invoicing and financial automation platform, bringing automated payment reconciliation to FGO users.
Through this integration, FinqData, the bank data aggregation service developed by Finqware, enables account, balance and bank transaction information to be imported automatically into the FGO platform, with users’ consent and in accordance with PSD2 security standards.
One specific use case is the automatic issuance of a tax invoice upon receipt of payment for an order or a pro forma invoice. Online merchants can accept card payments for orders, and once the payment is identified in the bank account, an invoice is automatically issued in FGO and matched to the corresponding transaction.
Merchants can thus complete the entire process, from payment confirmation to invoicing and payment reconciliation, without manual intervention and with a significantly lower risk of errors. Furthermore, incoming payments are identified through synchronisation several times a day, thanks to FinqData’s on-demand bank data refresh capability.
The integration illustrates how Open Banking supports the digitalisation of corporate financial management through automated workflows that go beyond simply displaying banking information.
``Through FinqData, we make bank data available to digital platforms in a form that enables end-to-end process automation. The integration with FGO shows exactly what this means: a payment identified in the account can trigger invoice issuance and transaction reconciliation, all within the same day. The value for users lies in the seamless flow and the time saved in their day-to-day work.``
For FGO, the integration expands financial automation capabilities by connecting invoicing features with information retrieved directly from bank accounts. In addition to the workflow for online merchants, bank data enables transactions to be matched with invoices already issued or received, and the status of incoming and outgoing payments to be updated.
``We firmly believe that the applications a company uses should communicate with one another. For entrepreneurs, what matters is that information from banking, invoicing and accounting reaches where it is needed, without additional steps, regardless of the technology behind it. Our collaboration with Finqware is another step towards the connected ecosystem we are building at FGO.``
FGO and Finqware are both Romanian fintech companies and members of the Romanian Fintech Association. Their collaboration demonstrates how complementary expertise within the local ecosystem can be brought together to create solutions that address specific business needs: reducing repetitive tasks and connecting banking services with business applications.
How payment reconciliation works with FinqData and FGO
Payment reconciliation means matching every bank transaction with the order, pro forma or invoice it belongs to. In many companies it is still a manual task: someone downloads the bank statement, opens the invoicing software and checks payments one by one. With FinqData connected to FGO, the same flow runs automatically:
- Bank connection: the FGO user connects their company accounts through a secure authorisation flow, confirmed in their internet or mobile banking app.
- Data retrieval: FinqData collects balances and transactions from the connected banks and refreshes them on demand, several times a day.
- Normalisation: transactions are cleaned, structured and labelled in the same format, whichever bank they come from.
- Matching: FGO matches each payment with the corresponding order, pro forma or invoice and updates its payment status.
- Invoicing: for online orders, the tax invoice is issued automatically as soon as the payment is identified in the bank account.
The same bank data also supports invoice reconciliation for documents already issued or received, so both incoming and outgoing payments stay up to date in FGO.
Why automated payment reconciliation matters
Manual payment reconciliation takes more time as the number of transactions, bank accounts and sales channels grows. Typing errors, missed payments and delayed invoices affect both cash visibility and the customer experience. Automating payment reconciliation brings several practical benefits:
- Less manual work: no more CSV or Excel statement uploads and no more checking payments line by line.
- Fewer errors: payments are matched using structured bank data instead of information copied by hand.
- Faster invoicing: invoices can be issued on the same day the payment arrives.
- Up-to-date cash visibility: the status of incoming and outgoing payments is refreshed several times a day.
The same approach already works in other industries. On the 24Broker platform, for example, insurance brokers use FinqData to automate bank reconciliation. Software providers can also read why invoicing apps need a multibanking engine.
Open Banking connections to Romanian banks
Open Banking makes automated payment reconciliation possible without file uploads or screen scraping. Under PSD2, a licensed provider such as Finqware accesses bank data through secure APIs, only with the account holder’s consent. Our guide to API connections with Romanian banks explains how these connections work locally, and the FinqData launch article shows how Finqware raises the quality of Open Banking data.
Finqware is a Romanian fintech company authorized as a pan-European payment institution and specializing in Open Banking infrastructure for businesses. Through its products – FinqTreasury, FinqData and FinqLink – the company connects more than 150 banks across 20 European countries and helps organizations automate financial processes such as bank data aggregation, transaction reconciliation and payment initiation. Finqware’s infrastructure is used by both enterprise companies and software developers seeking to integrate Open Banking services into their own products.
Launched in 2017, FGO.ro is a Romanian platform for invoicing and automating business financial activities. FGO connects invoicing, accounting, banking and interactions with government authorities. Used by more than 175,000 entrepreneurs and accountants, the platform integrates e-Factura, e-Transport and REGES Online, alongside partners such as Banca Transilvania, Salt Bank and SAGA Software.
The platform is developed by i-Tom Solutions and works with companies in banking, accounting, payments and technology to connect the services entrepreneurs use every day.
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