Cloud-based digital banking firm Alkami will be teaming with upSWOT, a FinTech offering mobile banking solutions, to connect apps for data analysis and insight, which a press release on Tuesday (July 12) said would boost financial health for clients.
The addition of upSWOT will help Alkami add more abilities for businesses to import banking transactions and business data into a user-friendly dashboard.
The apps will include things like popular accounting, ERP, payroll, e-commerce, CRM, marketing and POS business applications. Examples include QuickBooks, Shopify, Salesforce, Square, Instagram and others.
The data will help out with powering banks’ business clients using actionable insights, accurate cash flow forecasts and personable insights. That will help out with adding its suite of digital banking tools and network of banking clients for users.
This will help banks out with growing and competing with fintechs and megabanks.
“Business banking demands innovative technology that can harness data in real time and turn it into actionable insights,” said Stephen Bohanon, co-founder and chief strategy and product officer of Alkami. “Adding upSWOT to our suite of business banking solutions, brings our clients—regional banks and credit unions—the data aggregation, visualization, and analytics they need to better support their customers and grow their business.”
Meanwhile, Dmitry Norenko, upSWOT CEO, said banks won’t be able to ignore the fintech innovations that have been powering new businesses.
“Banks wishing to remain competitive in the global marketplace must in fact embrace fintech and digital banking innovations, and can benefit tremendously from implementing the seamless solution that our partnership enables,” Norenko said. “Together with Alkami, we will bring a new era of innovative support to business banking, and help businesses across America build greater financial success.”
Read more: FinTech upSWOT, Wipro Team Up on Digital Banking Tools for SMBs
UpSWOT also recently teamed up with tech services and consulting company Wipro, on adding digital banking tools for smaller businesses, PYMNTS wrote.
This will help add access to upSWOT for banks, giving access to business health to help out with finance needs.
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