Axiom Bank, based in Florida, has its roots as a community-based savings and loan firm that has bigger plans.
The two firms are joining forces with the goal of making SME banking better. This is BankiFi’s first North American partner.
Axiom Bank’s customers will now be able to leverage BankiFi’s services, such as cash management which can be integrated with various accounting packages popular across the US. In addition, the system can handle the collection, matching, and reconciliation of invoice payments submitted through various payment networks in a quick and efficient manner.
Mark Hartley, founder and CEO of BankiFi, said they are pleased to announce the new agreement with Axiom, noting that community financial institutions in the US are facing threats from Fintechs.
“…through BankiFi, these valuable institutions can fight back, regaining the trust of North American SMB customers and providing them with the tools that they need. That’s why we’re so pleased to have a community bank of the stature of Axiom place its trust in us. The partnership is testament to the power of our service, and the result of much hard work across the entire BankiFi team. It’s a huge step in helping to support banks around the world to fight back, and will provide SMB owners across North America with the banking services they require to thrive.”
Axiom aims to expand its offerings across the US as technology makes geographic presence less importan. Axiom Bank and BankiFi share that they will work to continually update their offering to customers by adding new functionality. The two companies aim to fill a void within the suite of digital banking services designed for the SMEs.
“Many SMBs across the U.S. are struggling right now and need help to keep their heads above water,” said Mike Coyne, Chief Information Officer at Axiom Bank. He added that many banks are unable to offer their support effectively, and there is a need to put banks back at the heart of business.
Axiom Bank COO John Zazzera, said that BankFi’s Open Cash Management platform can help them go further than before in their support of SME customers.
“It’s a huge positive for us and supports our drive to attract more SMB customers from across the U.S. We’re excited to work with the BankiFi team and look forward to a highly prosperous relationship.”