Detroit Fintech company adds integrated receivables and payment processing to speed up cash flow.
TCF Bank announced it has teamed with Detroit fintech company Autobooks to provide an integrated banking experience to its small business customers. Starting today, small business customers of Chemical Bank, a division of TCF National Bank, can enroll in Autobooks at www.ChemicalBank.com/autobooks and within a few moments begin accepting online payments via ACH and Credit Card — with funds deposited directly into their Chemical Bank checking account. In order to help customers in this time of caution and uncertainty — Chemical Bank is waiving the monthly software fee for the first 90 days. As part of our local communities, the Bank continually looks for ways to support our customers. Autobooks will be made available to all TCF Bank customers in the near future.
Small businesses who rely on face-to-face payments have recently turned to tools like Autobooks to enable them to get paid online, which makes the relationship especially timely. Through the relationship, TCF Bank and Chemical Bank’s small business clients will have the ability to electronically send invoices, collect payments, and automate aspects of accounting and reconciliation. These streamlined services help the bank become an ecommerce platform capable of budgeting and cash flow forecasting, while reducing the number of days to get paid formerly by cash and checks for their clients.
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“Small businesses rely on predictable cash flow, and now more than ever need tools from their financial institution to help them quickly get paid — such as self-service merchant onboarding to accept online payments and donations,” said Joe Chasteen, Director Business Banking Sales at TCF Bank. “We are providing a platform to evolve the traditional business checking account into a modern back-office that emphasizes cash-flow, embedding tools such as customer management, receivables, payables and payment processing. Digital banking services are going to be critical to small business success and we want to be there every step of the way to support our customers with timely, relevant and innovation solutions.”
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