Interview with nBanks

SolidSoft interviewed nBanks, a Portuguese company specializing in Open Banking, Open Finance and Financial AI, to understand how its integration with GC – Condominium Management is transforming administrators’ daily routines by simplifying banking tasks, strengthening security and bringing intelligent automation to the sector.

1. Getting to Know nBanks

For those who are not familiar with it, what is nBanks and what role does it play in the digital financial ecosystem?

nBanks is a fully cloud-based platform focused on Open Banking, Open Finance and Financial AI. It acts as a bridge between banks and business management software, aggregating and standardizing financial information from multiple institutions. Powered by Artificial Intelligence, the platform converts scattered data into clear, secure and actionable insights, offering companies greater control, accuracy and efficiency in financial management.

Your platform is frequently associated with the concept of open banking. Can you explain what this means in simple terms?

Open Banking allows customers to securely and explicitly share their banking data with other applications through APIs. Before this model, banks had complete control over financial information, making integrations or switching institutions complex. Today, the customer is the true owner of their data. As a result, they can view multiple accounts in one place, access new financial services and enjoy more transparency and autonomy.

What are the main advantages that nBanks provides to companies and software systems integrating your services?

nBanks drastically reduces the time spent on daily banking administration. Real-time data aggregation and synchronization enable faster decision-making, higher productivity and simplified financial operations. According to the company, customers save up to 86% of the time usually spent on banking tasks — a return up to 5.29 times higher than the investment.

How do you see the development of open banking in Portugal?

Although Open Banking is regulated under the PSD2 directive and progressing steadily, the Portuguese market is still consolidating. Interest and adoption are growing, but banks and the wider technological ecosystem still need to accelerate their evolution. Nonetheless, Portugal follows the broader European trend, supported by a regulatory framework that ensures innovation and security.

2. Integration with GC

SolidSoft integrated nBanks technology into GC. How does this connection work?

The integration uses nBanks’ Open Banking API. Administrators authenticate directly on their bank’s portal and authorize secure access to the condominium’s accounts. Once authorized, GC automatically retrieves up-to-date balances and transactions — no manual exports required.

Key features include:

• Consolidated view of all bank accounts;
• Automatic updates of banking movements;
• Direct integration with GC’s accounting system;
• Complete elimination of intermediary files.

What are the main benefits for administrators who activate the integration?

Administrators notice immediate improvements in:

• Time savings: elimination of repeated manual tasks such as checking portals or importing statements;
• Accuracy: significant reduction of human errors in reconciliation;
• Transparency: reliable, up-to-date data for meetings and reports;
• Security: fully regulated and encrypted access.

Is the integration compatible with all Portuguese banks?

Yes. It supports all Portuguese banks supervised by the Bank of Portugal, including CGD, Millennium, BPI, Santander, Novo Banco, ActivoBank, Montepio and others. It also supports European SEPA-area institutions.

Are there any limits to the number of accounts or condominiums that can be linked?

No. nBanks’ architecture is fully scalable and designed to handle dozens or hundreds of accounts under the same user.

Which tasks save the most time through automation?

The biggest savings occur in:

• Extracting and reviewing bank statements;
• Manually checking payments;
• Updating reconciliations;
• Preparing financial maps and monthly reports.

A typical administrator managing around 50 condominiums can reduce 2–3 full days of monthly work to just a few hours.

3. Security and Compliance

Data security is a critical topic. How does nBanks ensure information protection?

nBanks holds an A rating (95/100) from Security Scorecard — far above the industry average. The platform uses AES-256 encryption, TLS 1.3 communication protocols, two-factor authentication (2FA), IP-based access validation and continuous monitoring. All infrastructure is located within the European Union and fully compliant with PSD2 and GDPR.

Does the user need to share banking credentials with SolidSoft?

No. Credentials are never shared. Authentication always takes place directly within the bank’s secure environment. nBanks only receives temporary encrypted tokens, unusable outside the authorized context.

How long is the user’s consent valid?

Consent is valid for 90 to 180 days, depending on PSD2 rules. After that, renewal is required — ensuring transparency and full user control.

4. Feedback from GC Users

What feedback have you received from administrators using the integration?

Administrators highlight the drastic reduction in reconciliation time, greater confidence in financial reporting and the stability of the synchronization process. The setup is simple, and day-to-day use is almost completely automated.

Can you share a real example illustrating the difference before and after integration?

An administrator managing 60 condominiums previously needed 2–3 days per month to download statements and verify transactions. With GC + nBanks:

• Movements update automatically;
• Reconciliation takes only seconds;
• Information remains fully consistent between the bank and the software.

The result is more accurate and real-time financial management.

How does nBanks support partners such as SolidSoft?

nBanks provides continuous maintenance, 24/7 API monitoring, automatic security updates, compatibility with new banks and dedicated technical support — ensuring a secure and stable integration at all times.

What new features can users expect in the future?

Upcoming improvements include:

• Intelligent reconciliation using automatic matching algorithms;
• Alerts for critical transactions or balances;
• Integrated payments via Open Finance;
• Cash-flow forecasting powered by AI.

5. Vision and the Future

How will open banking continue to transform Portuguese companies?

Open Banking is becoming a fundamental part of digital infrastructure, much like invoicing or electronic accounting. In the coming years, we can expect:

• Full automation of banking tasks;
• Direct integration between banks and business management software;
• Real-time cash-flow control;
• Personalized financial services;
• Gradual expansion into Open Finance (credit, insurance, investments).

What message would you leave for condominium administrators who have not yet explored this integration?

Automation is above all a gain in security, accuracy and time. The nBanks–GC integration enables:

• Fewer errors;
• Greater transparency;
• More rigorous financial management;
• Instant access to accurate banking information.

Activation is quick, secure and requires no technical expertise — the administrator simply authorizes the connection inside GC and gains full access within minutes.

Interview conducted by SolidSoft. Published in partnership with nBanks.