TECHNOLOGY

YourSix Launched ZINFI Partner Portal Software

ZINFI Technologies | February 23, 2022

Portal Software
ZINFI Technologies announced that YourSix has successfully launched ZINFI partner portal software to provide its network to resellers with a secure, accessible central repository of marketing and sales assets and to streamline its partner onboarding process. ZINFI Technologies, Inc. is a company leading the definition and creation of Unified Channel Management (UCM) solutions. While YourSix is a leading Physical Security as a Service (PSaaS) software provider to enterprises and small businesses. Since its February 2021 launch, YourSix has onboarded over 150 partners via the partner portal.

ZINFI was recognized as a leader in The Forrester WaveTM: Through-Channel Marketing Automation, Q2 2020 report in April 2020, earning the maximum possible score (5 out of 5) in the criterion "Product innovation roadmap," "Pricing strategy," "Supporting goods and services," and "Number of workers. What differentiates ZINFI is its dedication to modularity, which makes it equally suitable for a small to medium-sized business (SMB) automating channel management for the first time or a major multinational manufacturer filling gaps or altering its channel technology.

Later in 2020, ZINFI was named a leader in another Forrester report, The Forrester WaveTM: Partner Relationship Management Q4 2020, where it received a score of 5 out of 5 (the highest possible) in the "Strategy" category for the "Product innovation roadmap" criterion and a score of 5 out of 5 (the highest possible) in the "Current offering" category for the "Partner co-selling and co-marketing" criterion.

ZINFI provides prospective clients with a 30-day free trial (no credit card necessary) that permits them to view the entirety of their Unified Channel Marketing (UCM) automation platform. This enables prospective purchasers to evaluate the company's market-leading channel management tools before making a purchase decision.

Spotlight

One of the biggest challenges small business owners face is maintaining a positive cash flow. The problem is, many aren’t managing and reporting on it in the first place. How do you manage cash flow that allows you to predict expenses, payments and forecasted sales?


Other News
FINANCE

Pitney Bowes and Funding Circle Launch Innovative Partnership to Support Small Business Lending

Pitney Bowes | March 23, 2022

Pitney Bowes Inc., a global shipping and mailing company that provides technology, logistics, and financial services, today announced it has partnered with Funding Circle, a leading online small business lending platform, to provide loans to their small business customers. Powered by Funding Circle’s world class machine learning and technology platform, Pitney Bowes will offer small business term loans to their customers, who will benefit from Funding Circle’s streamlined online application and loan origination process with market competitive rates. With these capabilities, customers will be able to get access to critical funds in as little as 48 hours. This pilot program aims to advance the lending experience for Pitney Bowes small business customers at a time when many small businesses are increasingly looking for growth capital. Seven in ten business owners (72%) have said they feel they will need financing this year, according to Funding Circle’s 2021 Small Business Surveyi. “America’s 32.5 million small businesses are the driving force behind our economy, but the number of small business loans approved by large banks has halved in just two years,” said Christopher Johnson, Senior Vice President and President, Pitney Bowes Financial Services. “Our partnership with Funding Circle will help business owners on Main Street get the working capital they desperately need to grow their business. In addition, it positions Pitney Bowes for long-term growth, as we create new value for our clients with new offerings.” “We share a common mission with Pitney Bowes to break down barriers and help make access to finance easier for all SMBs. This lending as a service partnership showcases the strength of our machine learning and tech platform to help customers access funding in a simple and seamless way. More than one third of business owners see an opportunity to grow the size of their business this year; yet, many remain hindered by a lack of access to capital to do so. We are committed to helping these businesses to unlock the finance they need to grow and power the economic recovery.” Vipul Chhabra, Managing Director of Funding Circle US The announcement is the latest in a series of strategic Pitney Bowes investments and services which will expedite SMBs’ access to capital and improve their lending experience. About Pitney Bowes Pitney Bowes is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. The Pitney Bowes Bank, Inc. (the Bank) is a subsidiary of Pitney Bowes Global Financial Services, LLC, which in turn is a subsidiary of Pitney Bowes Inc. The Bank is an FDIC insured Utah Industrial Bank located in Salt Lake City, Utah for over 23 years. The Bank has a nationwide lending and deposit footprint. About Funding Circle Funding Circle is a small and medium enterprise (“SME”) loans platform. Since launching in 2010, investors and lenders across Funding Circle's geographies - including retail investors, banks, specialty finance companies, asset management companies, insurance companies, government-backed entities and funds - have lent approximately £13 billion to c.120,000 businesses globally. iThe Funding Circle 2021 Small Business Survey was conducted through The Bliss Group’s Speed Data platform, powered by 1Q, a survey application that polls mobile audiences in real time. The survey includes responses from 1,000 U.S. business owners, who completed the questionnaire on October 26, 2021.

Read More

TECHNOLOGY

Norma: Turkey’s First Neobank for Freelancers, Sole-Traders, and Micro-SMBs Launches Platform to Help Manage their Business and Finances

Norma | June 24, 2022

Norma, an all-in-one banking, accounting, and business services platform, has seen interest from members early on with more than 2000 small business pre-registrations for its services. Norma moved from its closed beta to public launch in Turkey and is quickly onboarding small businesses on its list while also acquiring new members. Norma wants to onboard thousands of small businesses in the country before the year end and collect feedback from them to release new features to enhance and automate their financial experience. Norma completed two successful fundraising rounds within the span of one year; a $350k pre-seed round from various angel investors in Turkey and a seed round of $1,8m led by Global Founders Capital, and joined by MSA Novo, Finberg, D4 Ventures. The founder Hakan Gonca, a seasoned executive in the Fintech space, is excited about the product release and explains why Turkey is the right place to launch, emphasizing on the crucial role Norma will play in the lives of SMBs and freelancers. Norma wants to build an internationally impactful company, while partnering with globally recognized brands and bringing customer-oriented solutions for small businesses to increase their visibility in the banking system, and to support their financial efficiency. “All around the world, banking is focused on individual users and the needs of large companies, while ignoring small businesses that need these products the most. Moreover, the products offered to these businesses come with no advantages in terms of segmentation or pricing. Norma offers a next-generation experience by focusing on the needs of these businesses while creating a community where members can learn from each other as well. Norma distinguishes itself from the traditional banking approach by combining all company finance and accounting information on a single platform, while expanding the scope of banking services offered to these businesses. The interest international investors has given us even further assurance that we will make a great deal of difference in banking for small businesses with our customer-oriented vision. Norma is keen to become a multi-regional player and grow both in Turkey and new markets.”

Read More

BUSINESS STRATEGY

Ready Capital Small Business Lending Scales Up with LenderAI

Ready Capital & LenderAI | May 10, 2022

Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") announced another Company record for small loan closings (loans from $10,000 to $350,000) funding over fifty-five (55) SBA 7(a) small loans in April. The Company attributes this success and continuous growth to using a technology platform called LenderAI by iBusiness Funding LLC ("iBusiness Funding"), which is now available to all lenders. "LenderAI has enabled us to scale up and support the smallest businesses, a key objective for us,"Traditionally, it has been extremely difficult to scale SBA 7(a) operations, especially for lower loan amounts offered to the smallest businesses. This was the perfect opportunity to employ iBusiness Funding's LenderAI technology." -John Moshier, President of Small Business Lending at Ready Capital. Ready Capital's Small Loan Lending program has gone from funding 84 loans in 2021 to 150+ loans in the first four months of this year. This growth has been enabled by iBusiness Funding's LenderAI technology, a full suite of tools including digital application flow as well as automated decisioning, origination, underwriting and closing, all in a convenient and user-friendly platform. "Our core mission when expanding the SBA small loan program was to help the smallest businesses, making affordable lending available to support economic development and underserved communities, enderAI has enabled our 7(a) small loan products. The technology platform allows us to process loans for smaller businesses, who have fewer capital options, by digitizing their documents and inputs, giving them access to capital while allowing them to stay focused on their businesses." -Justin Levy, President of Ready Capital Small Balance Lending We believe our LenderAI technology has drastically improved document collection and processing, streamlining both the borrower and lender experience, said Katy Forte Seybold, iBusiness Funding Chief of Staff and Head of Strategy. We're thrilled Ready Capital has successfully leveraged our LenderAI technology and we're hoping many more lenders will for all loan sizes. There's little risk to trying it out, with bank level security, flexible core platform integrations and, for a limited time, it's free to try with no implementation fees. Ready Capital continues breaking company records with a focus on the smallest and most underserved borrowers. iBusiness Funding is a wholly owned subsidiary of Ready Capital. About iBusiness Funding, LLC iBusiness Funding LLC ("iBusiness"), established in 2015 and acquired by Ready Capital Corporation in 2019, is a technology Software and Services Provider that provides small business lending solutions to financial institutions. Over 130,000 loans have been funded through iBusiness' technology amounting to more than $6 billion. About Ready Capital Corporation Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 600 professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Read More

TECHNOLOGY

Foxquilt Launches eCommerce Insurance Product to Support Modern Small Business Owners

Foxquilt | April 20, 2022

Foxquilt, a leading North American insurtech focused on empowering small businesses with customized insurance products uniquely matched to their needs, announced the launch of a new eCommerce insurance product. Business owners will be able to secure coverage tailored to their specific needs, entirely online, on their own time and at better prices than they are used to. Foxquilt's eCommerce product is evolving insurance to meet the needs of the modern small business owner by providing an easy, all-online solution specifically designed to help new and existing e-commerce business owners quickly access insurance and fulfill compliance needs. Until now, the average eCommerce business was met with trepidation if US sales volumes were high or if they were a dropshipper who sold products from overseas. Foxquilt's new offering provides reliable coverage no matter the percent of US sales or where the products come from. Not to mention the improved affordability of this product, starting at $500 annually. The pandemic vastly accelerated the rise of eCommerce as the primary channel for shopping, and businesses have evolved to meet this new need. As such, more small businesses and entrepreneurs are turning to eCommerce and online marketplaces to meet customers where they are, changing the landscape in direct-to-consumer buying behaviors. With this shift, large eCommerce marketplaces such as Etsy, Shopify, and Amazon, now require sellers to purchase their own insurance policies. "Innovating insurance solutions for our small business customers has always been the epitome of our business at Foxquilt. That's why we're proud to introduce this new product offering to ensure that eCommerce business owners can secure insurance online and on-demand while protecting them from exposures where they trade." Mark Morissette, CEO and Co-founder of Foxquilt Foxquilt affords small business owners in over 500 professions to quote, buy and instantly receive their business insurance online. This is more efficient and cost-effective than other solutions available in the market. The company is committed to building technology that empowers small business owners, enabling them to have more control of their insurance buying experience, instead of being restricted to long wait times, extensive paperwork and a lack of autonomy. Foxquilt's business insurance products are specifically built to support business owners' entire insurance journey online, while providing a tailored, customized product. The platform is complemented by unique data and machine learning underwriting infrastructure, that suggests coverages based on a user's individual profile. As a North American insurance provider, Foxquilt is looking forward to launching the eCommerce product within the US later this year. Foxquilt also has leading partnerships and is excited to expand this roster with eCommerce marketplaces and online stores to provide top-quality coverage and a slick experience. About Foxquilt Foxquilt is a leading North American Insurance technology company focused on providing small businesses insurance. Foxquilt develops, underwrites and distributes a complete line of its own commercial insurance products in the United States and Canada. The company uses a combination of data analytics and artificial intelligence to recommend the best insurance coverage and price to meet the individual needs of its small business customers.

Read More

Spotlight

One of the biggest challenges small business owners face is maintaining a positive cash flow. The problem is, many aren’t managing and reporting on it in the first place. How do you manage cash flow that allows you to predict expenses, payments and forecasted sales?

Resources