Biz2X Announces Account Opening Product for Business Banking Clients

Biz2X is pleased to announce its new Account Opening product.

This “breakthrough” technology reportedly “allows banking clients to quickly and efficiently open new deposit accounts, enabling faster funding for borrowers. ”

New small and medium-sized businesses (SMBs) are “cropping up every day.”

The integration of Biz2X’s Lending and Account Opening products can “help to win their deposit accounts, as well as streamline lending to them.”

For financial institutions seeking a more efficient and streamlined account opening process, Biz2X’s software provides a secure and user-friendly solution.

The new software offers:

  • Digital application with business and validations;
  • Automated ID verification, KYC, and validations;
  • Compliance questionnaire and e-sign;
  • Banker dashboard to review requests; and
  • Data transfer to the client bank’s core system.

As noted in the update, the seamless integration into existing banking systems from Biz2X’s new Account Opening product will “allow financial institutions to open accounts faster and with greater accuracy.”

The offering enables users “to deliver a superior customer experience while also reducing costs and improving compliance.”

Aaron Traub, Chief Product Officer for Biz2X, said:

“In today’s competitive market, the ability to onboard new client accounts seamlessly has never been more critical as financial institutions are in a battle for depositors and face increasing competition from neo-banks and Fintechs. We worked closely with our clients to develop a best-in-class solution that removes much of the friction from the process. It’s a natural complement to our lending platform.”

As mentioned in the announcement, Biz2X is “the platform chosen for business lending at banks and financial institutions of all types and sizes.”

Lenders choose the platform because they want “to succeed in business lending.”

Biz2X makes this possible “through best-in-class technology that provides enhanced loan management, servicing, risk analytics and a configurable customer experience.”

Biz2X is built on the insights and expertise “earned from Biz2Credit’s decade-plus of business finance experience.”

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