By partnering with Expex, banks can improve their performance in three of their KPI’s:
NEW CLIENT ACQUISITION
GROWTH IN PROFITABILITY
These are critical KPI’s for banks that shareholders are concerned with and the Expex application is designed to address them directly. The Expex application enables SMB QuickBooks users with a dashboard and tool set that automates their entire internal accounting and bookkeeping requirements, which is still handled primary in a paper based environment. The application goes far beyond bookkeeping and provides users with the ability to operate their businesses more efficiently, with improved profits and cash flow.
Benefits to our Bank partners
- A significant uptick in business clients use of banks online banking from users logging in daily to perform various bookkeeping tasks. Artificial Intelligence is used to provide users with suggestions for improving profit margins, cash flow and lowering business expenses.
- Creates a solution that is very difficult to replace. Expex provides numerous services that users would need to replace with several applications.
- Creates a high barrier of entry for competition since most banks do not have an application like Expex available for their business clients.
- Data mining that creates standardized reporting, performance monitoring and identification of business development opportunities. This solution can be delivered with an opt in option for business customers.
- Improves the bank’s profitability through a fee based solution. The bank would be able to offer a solution for managing the bookkeeping of their business clients and charge a fee for using the Expex application.
Benefits to the bank’s SMB clients
Expex is a SaaS application that automates accounting and bookkeeping tasks, improves cash flow, lowers business expenses, and reduces the time required to review financial data and transactions. The app has smart alerts that notify users of critical issues requiring their attention and is integrated with QuickBooks and 11,000 financial institutions.
- 20% increase in working capital
- 25% reduction in expense spending
- 70% reduction in time to pay bills and other accounting tasks
- REAL TIME & complete view of your finances 24/7
- Alerts for time-sensitive items
- Replaces the need for multiple applications including bill payment, cash management and financial dashboards
- More time for driving sales, customer service and revenue