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Autobooks Accelerates Financial Institutions' Access to Small Business Banking Solution Built on Microsoft Azure
[August 13, 2019]

Autobooks Accelerates Financial Institutions' Access to Small Business Banking Solution Built on Microsoft Azure


Autobooks, a small business payment and accounting platform built on Microsoft (News - Alert) Azure helps banks reimagine and simplify small business banking.

The rise of the gig economy (lifestyle, small and micro-businesses) are creating new opportunities for financial institutions. This growing market segment is often too big for consumer and retail accounts, but too small for commercial relationships, creating a gap that has forced these businesses to seek out non-bank providers - until now. Autobooks' digital solution is helping financial institutions bring treasury and cash management tools down-market to address the needs of this rapidly expanding audience.

"Financial institutions are realizing the small business market can be an area of tremendous growth and opportunity," said Steve Robert, co-founder and CEO of Autobooks. "Proven channel integrations with existing core and digital banking providers, along with industry leading providers such as Microsoft, enable Autobooks to offer an all-in-one solution that both banks and credit unions can use to better serve small and micro-businesses in their communities."

Luke Thomas (News - Alert), Head of Banking U.S. Financial Services at Microsoft, added, "Collaborations with fintech companies are an exciting and growin segment for Microsoft as they are helping the entire financial services industry transform. With our industry expertise in regulated markets, working with companies like Autobooks, we will collectively bring new capabilities for the financial services industry to market using our technologies, such as Microsoft Azure."



The Small Business Administration reports there are more than 30 million registered small businesses in the United States. That number is expected to grow 10x as more people look to augment their income in the gig-economy, from baby-boomers retiring to part time consulting gigs, to freelancers starting a photography business. With Autobooks, financial institutions can provide these businesses with the tools they need to improve cash flow and gain access to working capital, better positioning business owners for success, strengthening their local economies, and having a social impact on the communities they serve.

By using Autobooks solution built on Azure, financial institutions can access a digital business banking suite to strengthen and build customer relationships; leading with services instead of interest rates, to attract and retain customers. Autobooks helps financial institutions drive adoption of small businesses, which accelerates deposit growth, service-fee income and business lending.


About Autobooks

Detroit-based Autobooks is a provider of small business banking solutions that integrate within a financial institution's existing digital experience. Through Autobooks, banks and credit unions can become a digital destination for small business owners, helping build stronger relationships, grow deposits and identify opportunities to increase fee income.

Please visit www.autobooks.co to learn more.


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