Bottomline and Autobooks Collaborate to Provide a Digital Experience Solution for Small Business Development

Bottomline, a leading provider of financial technology that makes business payments easy, smart, and safe, and Autobooks, an embedded invoicing, payments, and accounting platform for small businesses, announced a collaboration today to provide innovative and critical digital solutions to help small businesses prosper. Autobooks' invoicing, receivables, and accounting tools will be incorporated with Bottomline's Digital Banking IQ platform, allowing financial institutions to have a seamless digital interface as well as a comprehensive range of integrated payments and cash lifecycle solutions designed specifically for small businesses.

Bottomline's market-leading digital banking platform will be leveraged, as well Autobooks' innovative approach to assisting financial institutions in recruiting and keeping small businesses by offering critical backoffice services and being their system of record. The joint effort would provide banks and credit unions with a widely differentiated solution for increasing engagement and small business relationships. Bottomline's dedication to working with fintech collaborators, such as Autobooks, who are partnered with financial institutions to promote innovation and deepen customer relationships is expressed with this effort.

For financial institutions, the more than 30 million US small companies pose a $370 billion1 opportunity. However, failing to meet the particular demands of overburdened small businesses exposes banks to disintermediation from an evolving landscape of tech-led solutions. According to Aite Group2, fewer than 10% of financial institutions have digital services geared to the needs of small businesses such as invoicing, receivables, accounting, and cash flow management. Bottomline's existing and future banking clients will be able to further extend their services and comprehensively meet the demands of this underserved market with the inclusion of Autobooks.

Also, the most competitive banks and credit unions face challenges in finding new and innovative ways to engage small businesses with flexible, realistic approaches that satisfy industry demands for speed and convenience. Integrating the Autobooks approach into an existing technology stack takes no effort from the financial institution and provides a highly productive way of increasing revenue opportunities and deepening relationships. Autobooks enrollment for small businesses is entirely online and takes just a few minutes to complete.

About Bottomline

Bottomline simplifies, smartens, and secures complex business payments. Bottomline is used by corporations and banks for domestic and international payments, flexible cash tracking, automated payment processing, and bill review workflows, and state-of-the-art fraud prevention, behavior analytics, and regulatory compliance solutions. Bottomline technologies support thousands of businesses worldwide. Bottomline, headquartered in Portsmouth, New Hampshire, serves clients from offices in the United States, Europe, and Asia-Pacific.