Finxact core to deploy the Autobooks all-in-one small business

JACKSONVILLE, Fla., June 8, 2021 /PRNewswire/ — Finxact, the leading provider of next gen core systems to the US regional and super-regional banking sector, today 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 have become a priority for financial institutions.

A war for merchants1 is being waged online by big tech providers, well beyond e-commerce 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.

About Finxact
Finxact’s headless core is a SaaS platform engineered to support the scale and regulatory requirements of the largest U.S.-based financial institutions. Its cloud-native core banking system provides 100% accessibility to all data and functions via a robust set of modern APIs, empowering banks and their partners to rapidly deliver new experiences by creating products on demand and integrating new services as needed. Learn more at www.Finxact.com.

About Autobooks
Detroit-based Autobooks is a provider of small business banking solutions that include digital invoicing, online payment acceptance, cash flow management, automated accounting, and financial reporting. Autobooks offers pre-built integrations into industry leading core, online banking, and merchant servicing providers – along with dedicated go-to-market support to enable financial institutions to realize outcomes quickly & cost-effectively. To learn more, ask your technology provider about Autobooks or visit www.autobooks.co.

1, Forbes,In The War Between Square, PayPal And Shopify, Banks Are Collateral Damage, June 2021

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SOURCE Finxact

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