Omnichannel digital banking provider Access Softek has launched a new solution designed to enable community banks and credit unions (CUs) to provide services to businesses of all sizes — from sole proprietors to corporates.
With the new generation of Access Digital Business Banking, the company’s solution that creates a seamless online and mobile banking experience, financial institutions (FIs) can provide cash flow management, payments, payment acceptance and sophisticated entitlements, Access Softek said Friday (Nov. 18) in a press release.
“Providing a business banking offering opens the door for significant opportunity and growth for financial institutions and business owners alike,” Chris Doner, founder and CEO of Access Softek, said in the release.
Access Digital Business Banking allows businesses to pay, get paid, manage their cash flow and perform other tasks online, while also making it easy for them to communicate with a trusted advisor at the FI when they’d like, according to the release.
For the bank or CU, that enables them to provide the “human touch” to their business clients along with the digital capabilities, the release stated.
Because the new business banking solution is part of Access Softek’s Access Digital enterprise platform, it provides a consistent user experience as users move back and forth between business banking and personal banking, per the release.
“With Access Digital Business Banking solution, business owners can spend less time managing money and more time making money,” Doner said in the release.
PYMNTS research found that three-quarters of FIs said their corporate customers experience money management frictions when making B2B payments, with smaller FIs more likely to say this.
These frictions are related to working capital management, spend management, real-time cash flow management and real-time reporting, according to “Meeting the Challenge of Payments Modernization: How Organizational Size Influences Innovation,” a PYMNTS and FIS collaboration.
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