Autobooks, the small business payment and accounting services platform, today announced they have partnered with Community Bank, N.A. to provide an integrated online banking experience for its small business customers. This partnership is facilitated by Jack Henry & Associates, a leading provider of turnkey financial technology solutions and services.
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Through Autobooks, small and micro-business customers of Community Bank, N.A. will be able to send digital invoices and accept online payments directly from Jack Henry’s Banno Digital Platform. Providing integrated receivables as a feature of its digital banking channels will enable Community Bank, N.A. to better serve their small and micro-businesses that are actively seeking ways to accept online payments, while increasing non-interest fee income for the bank.
In addition to integrated receivables, Autobooks will make available its complete small business product suite to customers of Community Bank, N.A. The offering includes digital invoicing, accounting, payment acceptance, payables and financial reporting solutions. Autobooks will also deploy its full suite of go-to-market materials and services to support the bank’s efforts and success in rolling out the product suite.
This blended model of product and go-to-market enablement allows banks to launch in as little as 90 days; effectively scaling the bank’s operations from product delivery through adoption and utilization by the banking customer.
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“We’re seeing a whole host of market changes — the rise of challenger banks, the accelerated shift from in-person transactions to online, growing expectation of sophisticated and user-friendly software — that drive demand for solutions like Autobooks,” said Aaron Friot, SVP and Chief Technology Officer at Community Bank, N.A. “Our small and micro-business customers have a wide variety of needs that aren’t cookie cutter to what other expensive solutions provide. Autobooks is ideal because of its low-cost entry point, go-to-market support services and small-business focused features that suit our customer’s needs.”
Community Bank, N.A. has over $13 billion in assets, and more than 235 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts. The financial institution has relied upon Jack Henry & Associates as its technology partner for more than a decade. In that time, Autobooks has become a proven integration for both Jack Henry banks and credit unions, as well as their digital banking platforms. The most notable of these is their integration with Banno, which spans across both retail and business banking. Future integration efforts that leverage the Banno toolkit will enable Autobooks to further deepen its product experience for the end user.
“Community Bank’s integration with Autobooks demonstrates the strategic agility necessary to differentiate in the face of disruption,” said Ben Metz, Head of Digital at Jack Henry. “And this is precisely why we built Banno from the ground up as an open, API-first platform that gives financial institutions the ability to partner and integrate at will with fintechs of choice.”
Metz added, “Serving small businesses is relationship-intensive, and this is also why we pioneered a way for banks to extend their live, local, personal service digitally at the moment of need. Together, Banno and Autobooks create a compelling answer to disruptors automating the humanity out of critical small business services.”
