Cloud-based digital banking company Alkami will partner with upSWOT, a fintech, to help connect various business applications for data analysis and insight, to help add more digital banking tools to improve health financial, a press release said Tuesday (July 12).
Adding upSWOT will help Alkami add more capabilities for businesses to import banking transactions and business data into a user-friendly dashboard.
Applications 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 power banks’ corporate clients using actionable insights, accurate cash forecasts, and personalized insights. This will help add its suite of digital banking tools and network of banking clients for users.
This will help banks grow and compete with fintechs and megabanks.
“Corporate banking requires innovative technology that can harness real-time data and turn it into actionable insights,” said Stephane Bohanon, co-founder and chief strategy and product officer of Alkami. “By adding SWOT to our suite of business banking solutions, we are giving our customers (regional banks and credit unions) the data aggregation, visualization and analysis they need to better support their customers and grow their activity.”
Meanwhile, Dmitri NorenkoCEO of upSWOT, said banks will not be able to ignore fintech innovations that have propelled new businesses.
“Banks that want to stay competitive in the global marketplace actually need to embrace fintech and digital banking innovations, and can benefit immensely from implementing the seamless solution that our partnership enables,” Norenko said. “Together with Alkami, we will bring a new era of innovative support for business banking and help businesses across America build greater financial success.”
Read more: FinTech upSWOT and Wipro partner on digital banking tools for SMEs
UpSWOT also recently partnered with technology services and consulting firm Wipro, to add digital banking tools to small businesses, PYMNTS wrote.
This will help add access to upSWOT for banks, providing access to business health to meet funding needs.