Autobooks exceeds 100 clients of financial institutions
STRAIT, May 18, 2021 / PRNewswire / – Autobooks, the emerging leader in integrated billing and payment acceptance for financial institutions, today announced it has reached a milestone of partnering with more than 100 financial institutions.
the DetroitFintech based on partnerships with banks and credit unions to integrate digital invoicing and online payment acceptance directly into the financial institution’s existing digital banking channels.
âAllowing small and micro businesses to accept online payments directly to their checking account is similar to setting up direct deposit by a consumer – it helps ensure primacy,â says Derik Sutton, vice president of marketing at Autobooks. “We help financial institutions stay ahead of the competition, increasing engagement by becoming the back office for their clients.”
2020 represented a sea change from accepting payments in person to online. Businesses have recognized the need to modernize the filing cabinet and that by embracing online payments, their customers are paying them much faster. Challenger’s fintechs have taken notice and are capitalizing on the growing trend online to steal connections from small businesses to financial institutions.
Autobooks has proven to help financial institutions increase small business product lineup, reduce attrition, and shift use of competing products. In addition to online billing and payment acceptance, Autobooks offers cash flow management, accounting and financial reporting tools as part of its comprehensive product line. With Autobooks, financial institutions can deliver contextually relevant services that meet the needs of their customers while increasing engagement, loyalty and profitability.
Recognizing the need to better support small businesses, 46 financial institutions partnered with Autobooks in 2020, up 250% from the previous year. Growth accelerated further in 2021, as Autobooks is now deployed to more than 5 financial institutions each month, including its 100th customer Susser Bank.
“Small businesses need solutions and ideas that will drive their success,” said Carl Cravens, Chief Lending Officer at Susser Bank. âOur partnership with Autobooks is another opportunity to deliver real value and help solve what’s next for our customers. In addition to best-in-class technology, Autobooks has a great team that will help us launch this service in July. customers can focus on their growth. “
Turnkey integrations allow financial institutions to focus on creating value. âSince the launch of automatic books, we have seen a rapid first-hand adoption of e-invoicing by our small businesses, surpassing previous product deployments,â says Evan ashcraft, Vice President of Product Strategy at nbkc. “Even receiving unsolicited positive feedback from customers multiple times saying things like this” are a game-changer. “
Launched in 2017, Autobooks recently announced a $ 25 million B series round, led by MissionOG, on the heels of a record year. In just a few short years, Autobooks has built integrations and forged partnerships with all of the major core and internet banking service providers, making it easy for financial institutions to unleash new potential. FinTech has partnered with Microsoft Financial Services to deliver its solution on Azure, which delivers industry-leading data storage, security and information to financial institutions of all sizes.
âAs a pioneer, we have been a long-time supporter of automatic books. We are always looking for opportunities to support our local businesses,â said Rob bava, CEO of Community Choice Credit Union. âOffering this tool allows owners to save time in their busy schedules to focus on serving their customers, growing their business or spending extra time with their family.
About automatic books: Detroit-based Autobooks is a provider of banking solutions for small businesses that include digital invoicing, online payment acceptance, cash flow management, automated accounting and financial reporting. Autobooks offers pre-built integrations with leading core and merchant processing solutions, as well as dedicated go-to-market support, allowing financial institutions to get up and running within 90 days on average.
To learn more, ask your technology provider about automatic books or visit www.autobooks.co to schedule time with the Autobooks team.