Solutions for Financial Services Firms

APiO gives you the keys to ACCOUNTING SYSTEM and ERP system data. What you do with this new power is up to you.

Every once in a while, a new technology comes along that dramatically changes the way companies service their customers. In the banking world, we’ve seen many such examples of this including the ATM machine, the Internet and mobile banking. These innovations represented a seachange with how banks serviced their customers by lowering costs and also for consumers who were able to access cash, make deposits and transfer funds immediately, without going into a branch.

Not having customers visit the branch, however, to perform basic banking tasks has created challenges with marketing and promoting core banking products and services, such as loans.

DIRECT ACCOUNTING SYSTEM INTEGRATION - THE NEXT CREDIT FRONTIER

Imagine consumer lending without being able to reference a FICO score. Although it’s possible to perform extensive due diligence on every consumer, it’s cost-prohibitive. Fast and accurate credit decisioning for consumers is made possible by the Fair Credit Reporting Act which gives credit providers a uniform way to report (to credit bureaus) credit amounts and payment behavior of their customers.

In the business world (B2B), there is no such regulatory mandate to report when a purchase order arrives, when an invoice is sent or when a payment is made against an invoice. Interestingly, B2B financial data is incredibly insightful from a credit standpoint as it highlights how much credit is being extended to each customer and, importantly, how timely they pay.

In addition to storing customer invoicing and collection activities, accounting systems also contain detailed information on a business’s payment behavior with its suppliers and vendors.

WHY YOU’RE NOT ALREADY LEVERAGING THIS TECHNOLOGY

Despite the obvious benefits of integrating directly with a business’s accounting system, there are numerous reasons why you’re not doing this already. These include:

Need to support literally dozens of different accounting systems

Each accounting system
has its own peculiar
design and architecture
that requires unique insights to integrate successfully.

Most accounting data are locked away in on-premise software systems

Connecting to local systems requires specific installers and unique software/skills.

Each accounting system has it’s own unique data model

Data literally is all over the place in and in different formats. Standardization is needed prior to processing or interpreting.

Integration challenges with your Loan Origination System.

Getting data from dozens
of systems is a daunting
task, even for the largest
financial services providers.

IMAGINE...

Imagine being able to determine an SMB’s creditworthiness and suitability instantly. Imagine being able to leverage a “FICO-equivalent” score and deliver financial services against that score just like the consumer world?

Imagine being able to dramatically reduce origination costs. Imagine being able to improve your view of risk? Imagine what an improved customer experience will do for your competitive profile and differentiation? Imagine the results.

INTRODUCING SMBDIRECT - A BETTER WAY TO DETERMINE & PROVISION CREDIT FOR SMBS

SMBDirectTM is a breakthrough product suite designed to help financial services companies improve the way they engage their business customers, increase speed, better understand risk and drive results.

The SMBDirect product suite includes three complimentary components that can be adopted signularly, or in combination, to provide a more comprehensive solution:

ACQUIRE & TRANSFORM

Integrate with leading accounting systems to automate the credit evaluation process.


Transform disparate data
types into a common format
for consumption.

RISK & CREDIT SCORING

Proprietary entity resolution technology and credit scoring based on first party accounting
system data.


Advanced risk and fraud detection using AP & machine learning.

 

REAL-TIME CREDIT MONITORING

Ongoing credit monitoring to ensure compliance with loan covenants.


Eliminate reporting delays and effort. Stay on top of your portfolio without effort.

TECHNOLOGY ENABLING ENTIRELY NEW PRODUCTS AND SERVICE OFFERINGS ​

Direct integration technology opens up entirely new possibilities. See how SMBDirect is creating entirely new products and revenue opportunities.

Single Invoice Cover Portal

Offering credit insurance coverage on an individual invoice basis.

The world’s largest credit insurance company leverages APiO’s to enable entire new online distribution models.

See how SMBDirectTM can results for your organization.