FinTech and RegTech provider Computer Services, Inc. (CSI) has collaborated with Autobooks to provide financial institutions (FIs) with the technologies they require to help small business clients better handle their finances, according to a Tuesday (Feb. 2) announcement.
Autobooks is a completely integrated payments and accounting technology for small companies provided via FIs, according to the announcement.
“By partnering with Autobooks, we’re providing our financial institution customers with a robust, cohesive platform that helps them serve their small business customers in new and exciting ways,” CSI President and COO David Culbertson said in the announcement.
Autobooks connects with CSI Digital Banking and the cloud-based core banking system of CSI, NuPoint®, letting small and micro companies send online invoices and take digital payments. Moreover, the solution monitors incoming and outcoming payments, streamlines reporting and digitizes accounting.
“Autobooks is proud to partner with CSI to enable invoicing and payment acceptance as integrated features of CSI Digital Banking,” Autobooks CEO Steve Robert said in the announcement. “Our seamless integration will enable banks across the country to redefine the expectations of small business banking, making online payment acceptance as common as bill pay and mobile remote deposit capture (mRDC).”
FIs can economically and simply provide Autobooks to current small business clients, and they can also harness the platform’s collection of online technologies to bring in new clients, according to the announcement. In addition, the system helps financial institutions strengthen non-interest fee income, develop lending opportunities and bolster deposits.
Autobooks, which is based in Michigan, offers small business banking offerings for receiving payment through the web, digitizing accounting and handling cash flow. Computer Services, Inc. provides FinTech and regulatory compliance solutions to FIs and business clients throughout the country, according to the announcement.
The news comes as TD Bank was rolling out a new digital payment and accounting functionality on its digital platform for small companies. TD Online Accounting showcases technology built out by Autobooks.
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