SaaS Providers to Accelerate Autobooks Solution Deployment for Finxact Clients
Finxact, the leading provider of next gen core systems to the US regional and super-regional banking sector, announced that Autobooks has joined its Marketplace and that the companies will accelerate the path for banks running the Finxact core to deploy the Autobooks all-in-one small business account receivables product suite.
Small businesses are a critical part of the economy, employing nearly half of the private workforce in the U.S. and accounting for a staggering 99.9% of all businesses in the country as of 2020. Reaching the SMB, family owned, and sole proprietor bank customer segments with business banking tools that allow them to digitally manage their receivables from invoicing to payment acceptance to cash management has become a priority for financial institutions.
A war for merchants is being waged online by big tech providers, well beyond ecommerce and payments, battling for the entire small business relationship. Autobooks aims to help financial institutions better compete, by embedding essential back-office services that help customers manage and run their business – all within internet and mobile banking.
“The team at Autobooks is doing important work and the company is fast becoming recognized by the industry as a natural partner to banks that are trying to help their small business customers be competitive. We look forward to making it easy for banks to deploy the Autobooks solution within the Finxact ecosystem,” said Christopher McClinton, CMO of Finxact.
“We’re excited to participate in the Finxact Marketplace and help further unlock bank innovation,” said Chris Spiek, Autobooks’ Chief Product Officer. “Our companies are both cloud-native, API-first platforms that help financial institutions spend more time realizing their future potential vs. supporting the past. Together, we can leverage our technology and go-to-market expertise to deliver solutions that help small business owners overcome their daily cash flow struggles.”
The Finxact Marketplace attracts the leading fintechs and banking software providers to position their solutions to the market integrated with the leading next gen core platform via its open-API architecture. Banks can readily identify solutions for which they may become the driver for API-based inclusion, as well as those solutions that are pre-integrated and form part of the Finxact reference ecosystem in production environments.
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