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Finlyte Wields Oracle Tech For Finance-as-a-Service Tool

Finlyte Partners has launched a new central office services platform that will provide Finance-as-a-Service (FaaS), consulting and capital for small to medium-sized businesses (SMBs). In addition, Oracle NetSuite will be its technology partner, joining the NetSuite Business Process Outsourcing (BPO) Partner Program.

"We are excited to launch Finlyte and deliver our service commitment of improving financial visibility, creating efficiency and facilitating oversight for small- to medium-sized businesses," said Randy Russell, Finlyte managing partner and co-founder, in a press release. "They count on us to help add value and free them up to focus on running their business."

Finlyte is a technology-driven business solutions provider for emerging and established startups and middle-market companies. The companies Finlyte serves quickly outgrow entry-level accounting systems, manual processes and spreadsheets. By running NetSuite's cloud-based ERP, Finlyte is able to improve "financial visibility and create cost efficiencies for its customers," senior managers, investors, boards and other key stakeholders.

NetSuite also reduces the burden on Finlyte to invest in IT infrastructure, as well as enables the company to work collaboratively with its clients by providing access to real-time data. So if a client outgrows the need for outsourced accounting services, Finlyte will be able to easily transition the use of NetSuite to the client.

Oracle offers complete Software-as-a-Service (SaaS) application suites for ERP, HCM and CX, as well as Platform-as-a-Service (PaaS) and Infrastructure-as-a-Service (IaaS) from data centers throughout the Americas, Europe and Asia.

"We are excited to welcome Finlyte Partners into the BPO Partner Program," said Craig West, vice president of alliances and channel for Oracle NetSuite. "Finlyte is well-positioned to serve mid-market customers with its financial management expertise and depth of accounting system experience. This type of experienced partner, coupled with NetSuite's rich functionality and scalability, will greatly benefit joint customers."

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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