American digital banking technology provider Bankjoy has launched its banking platform aimed at small businesses.
Bankjoy’s invoicing, payroll, company formation, wire transfers and entitlements features are aimed at helping businesses ‘efficiently’ and ‘effectively’ manage their finances.
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The platform has been engineered by credit union executives and built specifically for community financial institutions.
Bankjoy’s platform claims to equip financial institutions with tools aimed at driving loyalty among business members and allowing SMBs to save time on mundane tasks and achieve business goals.
Bankjoy CEO Michael Duncan said: “Small businesses have been demanding better digital banking capabilities for the better part of the last decade. In fact, 60% of business owners said they would switch financial institutions if they found one with superior offerings. But SMBs are not a monolith. Their needs vary, from payment processing to invoicing and so on.”
“Financial institutions must be able to offer more than a generic platform with limited functionality while also ensuring an outstanding user experience. Our latest business banking offering achieves this, helping more banks and credit unions support small business owners within their communities and drive growth for local economies.”
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By GlobalDataBankjoy caters to banks and credit unions and its banking technology offerings include mobile, online, e-statements, online account opening, online loan origination, and conversational AI.
Recently, Cloud banking technology provider Thought Machine raised $200m at a $1bn valuation.
