Vereinsbuddy reduces reconciliation time by 80%
Non-profit organisations and associations are an important part of Austrian culture and the backbone of many thriving communities. Despite this, administrative tasks such as manual bookkeeping, handling paper receipts and tracking payments can create a significant operational burden.
Vereinsbuddy set out to modernise this landscape with an intuitive, cloud-based platform designed specifically for associations operating under the Austrian Association Act (Vereinsgesetz). To support its automated bookkeeping and AI-driven reconciliation features, Vereinsbuddy partnered with Qwist for its Open Finance coverage, technical capabilities and regulatory licensing.
At a glance
- Client: Vereinsbuddy
- Sector: Non-profit management and financial software (B2B SaaS)
- Geography: Austria
- Qwist solution: Qwist Connect (Financial Data)
- Key capabilities enabled: Automated transaction reconciliation, AI invoice matching, membership fee tracking, bookkeeping and simplified statutory reporting under the Austrian Association Act.
- Primary outcomes: Streamlined banking workflows, broad coverage across Austrian retail and cooperative banks, access to regulatory licensing and a seamless implementation process.
The challenge
Manual bookkeeping and fragmented data sources placed a heavy administrative burden on non-profit associations.
For Austria’s thousands of non-profit organisations and associations, financial administration has become a significant burden. Manual processes can take hours every month, from exporting bank statements and sorting through paper receipts to matching payments against member lists and invoices, and chasing unpaid fees. This bureaucracy and fragmented data make it difficult for associations to scale, while increasing the risk of errors.
In many associations, this work falls to volunteers, typically a treasurer who manages the books in the evenings and at weekends alongside a full-time job. Their time is one of the most valuable resources a club has, and every hour spent checking bank statements is an hour not spent on rehearsals, training or events. When a treasurer steps down, their successor often inherits a folder of receipts and a spreadsheet that only the previous treasurer understood.
Vereinsbuddy aims to address this challenge with an AI engine that automates much of the administrative workload by extracting key financial information from documents such as receipts and PDFs. However, without direct access to bank transaction data, full automation remained out of reach. Financial information was fragmented across different sources, and payments still had to be checked manually.
Vereinsbuddy needed reliable connectivity across the Austrian banking landscape. Building this infrastructure, navigating complex PSD2 and Open Banking requirements, and securing the necessary regulatory authorisation would have required significant time and resources, diverting attention from business growth and slowing product development at a crucial stage.
For Vereinsbuddy, Open Banking was a strategic choice. It was the missing link between an AI-powered product and genuinely automated financial administration. Reliable, compliant bank connectivity was essential, so the company turned to Qwist. With extensive connectivity across banks and financial institutions in the DACH region, Qwist was a natural partner for the innovative Austrian fintech.
The solution
Reliable Austrian banking connectivity and regulatory compliance through an established infrastructure provider.
Vereinsbuddy selected Qwist as its long-term financial infrastructure provider, bridging the gap between Austrian financial institutions and its software platform.
Qwist was chosen based on four decisive factors:
- Comprehensive Austrian banking coverage: Broad and reliable API connectivity across Austria’s banking ecosystem, enabling member associations to connect their accounts regardless of their banking provider.
- PSD2 compliance and regulatory coverage: Vereinsbuddy gains access to Qwist’s infrastructure and banking data services for non-profit organisations across Austria. This allows Vereinsbuddy to operate within Qwist’s established regulatory framework, removing the need to obtain its own PSD2 authorisation for the covered services.
- Smooth integration and developer support: A straightforward onboarding process, an accessible trial environment and direct support from Qwist’s technical team enabled a swift rollout.
- Predictable, scalable pricing: Transparent commercial terms designed to support Vereinsbuddy’s growth as a B2B SaaS provider.
Most treasurers in Austrian associations do this work as volunteers, in the evening after their actual job. Every hour they spend matching bank statements against member lists is an hour taken away from the club itself. With Qwist, payments arrive in Vereinsbuddy automatically and our AI suggests where each one belongs, so the treasurer only has to confirm. Qwist understood the space we operate in and moved at our pace, which made them a partner rather than just a provider.
Lukas Kemetinger, CEO of Vereinsbuddy
The result
Qwist Open Finance helps Vereinsbuddy simplify financial administration for associations.
By integrating Qwist Connect into its core platform, Vereinsbuddy removed one of the biggest barriers to reliable banking connectivity and compliant financial data flows. Banking connectivity now operates behind the scenes, giving associations access to transaction data without requiring members to manage the banking integration themselves.
The access is read-only, Vereinsbuddy can retrieve and match transactions but cannot move money. Control over each association’s bank account therefore remains with the association. For volunteer treasurers responsible for managing their club’s funds, this was essential.
Associations no longer need to download CSV files, print bank statements or review transactions line by line. Bank data flows directly into Vereinsbuddy, where transactions can be matched against membership payments, invoices and expense records. What was once a labour-intensive process requiring hours of manual work has become a much quicker review, giving volunteers more time to focus on running their organisations.
This also enables Vereinsbuddy to bring the standard of financial management associated with modern fintech products to Austria’s association and non-profit sector. Qwist handles the complexity of banking connectivity behind the scenes, allowing Vereinsbuddy to focus on delivering a simple, intuitive experience for users who can benefit from Open Banking without needing to understand the underlying infrastructure.
With Qwist Connect, including Financial Data, Vereinsbuddy can concentrate on core features such as member management and AI-powered receipt recognition rather than spending months building and maintaining individual bank integrations. The partnership also gives Vereinsbuddy access to Qwist’s regulatory framework, including its BaFin authorisation, and provides a potential route to expansion into neighbouring European markets.
For Vereinsbuddy, the partnership replaces complex connectivity challenges with a single integration, unlocking access to Qwist’s product portfolio and Open Finance infrastructure.
This collaboration demonstrates how Qwist’s Open Finance platform can help businesses across industries streamline operations and unlock new growth opportunities through a single, trusted partner.
About Qwist
Qwist is a leading European Open Finance provider that empowers businesses to turn banking data into a competitive advantage. Its regulated, three-pillar solution enables secure data activation and the creation of new revenue streams across Europe.
About Vereinsbuddy
Vereinsbuddy is software for bookkeeping, membership management and membership fee administration, designed for associations (Vereine) in Austria. Treasurers can capture receipts using AI-powered receipt recognition, connect their association’s bank account via Qwist and confirm AI-suggested matches instead of reconciling transactions line by line. The platform also includes invoices with QR codes for instant payment, donation management and the annual income and expenditure statement required under the Austrian Association Act. Vereinsbuddy runs in a browser and as an app for iPhone and Android, with all data hosted in the EU. It was founded in Vienna by Lukas Kemetinger, who also chairs an association himself. Visit vereinsbuddy.at.
