SMALL BUSINESS ADVICE

VERMEG Launches Colline.Cloud to Help Small and Medium Sized Firms

VERMEG | November 19, 2020

VERMEG, the main banking and protection programming arrangements supplier, has today dispatched Colline.Cloud, a profoundly cost-productive start to finish guarantee the board administration, focused on smaller purchase and sell-side firms.

The dispatch comes as the worldwide guidelines for uncleared subordinates (UMR) moves to stages five and six.

Notwithstanding, because of COVID-19, there is a year augmentation to the usage cutoff time. In particular, all substances with an AANA (Average Aggregated Notional Amount) above EUR 8 billion, have until September 2021 to go along. The defer implies any semblance of smaller resource chiefs and venture banks will have additional chance to plan and have the occasion to locate a vital arrangement that meets the administrative prerequisites as well as empowers them to audit 'All out Cost of Collateral' and improve insurance the board productivity.

Colline.Cloud is a measured cloud-based security the board stage that is exceptionally computerized and versatile, and can be executed quickly and consistently to address this issue. The spry and adaptable programming, with adaptable measuring and arrangement, has been created from the honor winning and market driving help, COLLINE, and has extra abilities including Standard Initial Margin Model (SIMM) computations and another UI.

Spotlight

The awards will be presented by SBA Administrator Linda McMahon on April 30, during the National Small Business Week kickoff event at the U.S. Institute of ... Rob Leonardis, President of Ember Industries, Inc., will receive the 2017 Phoenix Award for Outstanding Small Business Disaster Recovery.


Other News
FINANCE

Finastra collaborates with Microsoft to bring embedded financing options to thousands of businesses with Banking as a Service

Finastra | April 13, 2022

Finastra today announced a Banking as a Service (BaaS) collaboration with Microsoft to bring new lending options to thousands of Small and Medium Enterprises (SMEs) – a sector severely underserved when it comes to accessing finance. SMEs using Microsoft Dynamics 365 will be able to access and unlock vital financing offers without leaving their business management platform. This move will enable SME owners to access relevant and valuable business financing in a seamless and frictionless manner. Users will be able to unlock lending options within Dynamics 365. With consent from the SME, the solution will use information an SME already stores within Microsoft Dynamics 365, making it easier for them to apply for lending. The ability to provide banks with additional information, including accounts receivable and payable records, will improve lending decisions and time to cash for SMEs. Finastra's expansive network of over 5,000 financial institutions in the US will allow SMEs to access the most relevant and valuable financing options for their specific business needs. "We are extremely excited to bring this additional finance capability to SMEs to ease the process of accessing capital, and power competitive financing offers in less time. This lending proposition for Microsoft Dynamics 365 reinforces Finastra's leadership in open and embedded finance. It demonstrates the huge benefit that embedded and contextual finance will bring to the industry and the communities within it. We look forward to continuing our long-standing collaboration with Microsoft and working closely on this and future impactful projects." Angus Ross, Chief Revenue Officer, Banking as a Service, at Finastra "We are proud to further expand our relationship with Finastra to drive new value for small and medium enterprises, the backbone of job creation in the world's economy," said Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft. "By embedding secure access to key financial services in the context of Microsoft Dynamics 365, our SME customers will have a faster path to the financing options and critical capital they need to thrive." The Finastra SME embedded finance solution on Microsoft Dynamics 365 will be integrated with open APIs through Finastra's FusionFabric.cloud platform. The solution is expected to go live in Summer this year, with initial focus on North America customers. About Finastra Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world's top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. About FusionFabric.cloud FusionFabric.cloud is a scalable, open and collaborative platform built by Finastra. It brings together an ecosystem of financial institutions, core providers, developers and fintechs, as well as embedders and distributors of financial services. Financial institutions use FusionFabric.cloud to enhance efficiency, create new experiences for customers and offer services through new distributor channels as part of Banking as a Service (BaaS). Embedders and distributors can tap in to the platform to source, and integrate with, financial institutions which can quickly produce new financial products in context.

Read More

FINANCE

Alchemy launches Small Business Lending SaaS Platform to fully automate Commercial Lending Process

Alchemy | April 07, 2022

Small and Medium Sized Enterprises (SME) are the backbone of the world economy. They play a major role in economic development, job creation, and innovation. Furthermore, SMEs create up to 50% of employment worldwide and represent almost 90% of commerce worldwide. According to research, entrepreneurs and business owners will create over 600 million jobs in the next 10 years which will consist of 70% of new jobs around the globe. Today, small business owners are less likely to receive funding from large national or international banks. Instead, they rely on their own savings to bootstrap their business. According to the International Finance Corporation (IFC), there are 65 million small businesses or 40% of all SMEs in the world who have unmet financing needs. In other words, small business owners need funding to give them the boost they need to grow and expand their business. There are many emerging markets such as Latin America, that have started to explore credit information infrastructure where lenders and financing companies can underwrite small businesses by accessing the SME's credit history and banking transactions. Alchemy along with other partners in Latin America and around the world have built white labeled software that can help launch lending companies to start offering much needed financing products for millions of SMEs worldwide. Alchemy has assisted in developing government backed lending systems and automated crucial elements of the small business lending decision points. To properly underwrite a small business, the lending software must be able to automatically verify the small business's corporate information as well as the true owner's personal identity. We can automatically verify all small business owners' personal identity to provide a high level of confidence that these applicants are using their identity. Cash flow is another critical element of SME lending underwriting decision. Identity verification, personal and corporate credit tells us the history and behavior of the business, but it may not necessarily tell us the current financial health of the business. Alchemy has integrated with partners such as Codat and Plaid, which offer a deep dive into a company's cash flow and financial stability. We've spent years perfecting our automated application process, decision engine, and workflows that allows lenders to negotiate with their borrowers before a final offer is signed. Alchemy's powerful loan management system can manage line of credit, installment loans, and revenue-based repayment structures. The Alchemy lending system covers repayments, payment reminders, and collections modules to help lenders to stay on top of their portfolio and investment.

Read More

TECHNOLOGY

Thumbtack Announces Front Desk – a First-of-its-Kind Concierge Service – to Help Small Businesses Grow More Sustainably

Thumbtack | March 10, 2022

Thumbtack, the modern home management platform, today announced the launch of its latest offering for local professionals: Front Desk. This new concierge service is personalized to help small businesses turn even more potential customers into confirmed jobs. Now, hundreds of thousands of small business owners can optimize their operations to be more efficient and more profitable. “Today, our Front Desk team responds to inquiries in 2 minutes, which means customers are finding help faster than ever and pros are growing their businesses more sustainably. We’re helping pros spend less time in the office or on the phone — and more time on the job. In the future, we envision Front Desk helping independent business owners manage more of their growth factors on Thumbtack. Chat is just the beginning.” Jeff Grant, COO at Thumbtack The labor shortage has severely impacted the home improvement, repair, and maintenance industries with 52 percent of home pros reporting difficulty hiring in our recent Economic Sentiment Survey. Despite the shortage of available qualified workers, home pros are busier than ever – 73 percent expect their company's financial situation to be the same or better in the next quarter. And, they're seeking help to keep up with demand — with more than one third (36 percent) attempting to fill full or part-time positions last quarter. Our new Front Desk offering helps pros minimize the effects of the labor shortage by giving them peace of mind that their customers are getting near instant, effective, and high-quality support while allowing them to focus on their craft. “The Front Desk team has been phenomenal. Customers reach out to us at all times of the day, including at night,” said Michele Bottone, owner of Lazy B Fencing and Staining. “Prior to using Front Desk, we wouldn’t see the messages until the next day because we are out in the field or at home with family. Now it doesn’t matter when customers reach out because they get responded to right away and it’s helped us engage them more efficiently. The customers also enjoy the quick response from our team. It’s been great!” To start, Thumbtack’s Front Desk team conducts an onboarding call with each pro to understand their business goals and preferences in order to set up personalized responses for future customers – much like a personal assistant. From there, based on the package that best fits each pro’s needs, the Front Desk team handles messaging with customers on behalf of the pro (days, evenings, even weekends) and books jobs for them based on their availability and any other personal preferences. Customers get a personalized experience depending on the independent pro they’ve reached out to. During initial testing of Front Desk, local service professionals saw, on average, 20 percent higher job conversion, and 28 percent higher customer satisfaction ratings. To learn more about Thumbtack, download the app (available on iOS and Android). About Thumbtack Thumbtack is a technology leader building the modern home management platform. Through the Thumbtack app, homeowners can effortlessly manage their homes — confidently knowing what to do, when to do it, and who to hire. Bringing the $500 billion home services industry online, Thumbtack empowers millions of homeowners to fix, maintain, and improve their most valuable asset. Hundreds of thousands of local service professionals, from painters and plumbers to photographers and math tutors, use the Thumbtack platform to grow their business each year.

Read More

BUSINESS STRATEGY

BuildESG Unveils All-In-One ESG Solution for Asset Managers and Small Businesses to Accelerate ESG Adoption

BuildESG | June 20, 2022

BuildESG recently launched the BuildESG Hub, a holistic software and service solution to deploy, manage and scale ESG programs for small businesses, asset managers and their portfolios. The digital platform is a powerful tool for aligning ESG practices with core business strategies, offering a best-in-class digital user experience that provides a 360-degree view of ESG processes, and offers access to resources, expert guidance and a community forum. “The BuildESG Hub arose because we saw a gap in the market — we couldn’t find a simple solution that would help companies understand the basics of ESG, why it matters and how to establish a foundation of practical policies and processes that were applicable across sectors and company maturity levels, So, our team of ESG experts, investors and technologists built a platform that combines digital tools and ESG expertise that companies and investors need to set and meet their ESG goals.” -BuildESG Founder & CEO James Lindstrom The BuildESG Hub offers both free and paid packages. For those who need more guidance, we felt it was important to offer guidance alternatives in the form of a community forum and ESG experts under a flat fee versus the hourly model of most consulting firms. Lindstrom added. BuildESG members and teams at various membership tiers are able to. Deploy ESG Programs. For companies that do not yet have an ESG program, the platform includes basic education and a methodical building of a foundation of processes and policies. Deployment starts with access to introduction to ESG training content and user-friendly, digital assessments of a company’s existing policies and processes, resulting in a digital action list to establish a solid foundation for future ESG initiatives, such as quantitative data tracking. Access Support Resources. In order to support building a foundation, BuildESG provides guides, templates, due diligence and vendor assessments and a portfolio-wide content retention library. Connect with Peers through the BuildESG Forum. BuildESG’s platform drives connections and community among our members by helping share best practices, tools and intelligence. Additional paid features include: Hands-on Introductory and Annual ESG Training. Portfolio Analytics for Asset Managers. Premium Private Equity Industry Benchmarking Reports. Detailed Benchmarking Process-Level Data. Expert ESG Guidance from BuildESG Experts. Annual Company and Portfolio Reviews from BuildESG Experts About BuildESG BuildESG is a software and services ESG platform with 50+ ESG subject-matter experts at the helm. BuildESG’s solutions address the reporting, framework and ratings advisory, data collection and analytics needs of its Fortune 500 and global private equity firm clients. BuildESG serves clients across industries, with certain expertise in the financial services, private equity and energy and power sectors. BuildESG has offices in New York; Greenwich, Conn.; and Berkeley, Calif.To learn more, please contact info@buildesg.com or visit https://buildesg.com.

Read More

Spotlight

The awards will be presented by SBA Administrator Linda McMahon on April 30, during the National Small Business Week kickoff event at the U.S. Institute of ... Rob Leonardis, President of Ember Industries, Inc., will receive the 2017 Phoenix Award for Outstanding Small Business Disaster Recovery.

Resources