Bill.com Updates Banking Platform
Bill.com has updated its platform through which banks can resell the company's bill payment, invoicing and cash flow management services to their small-business customers.
The Palo Alto, Calif., company expects to announce its first banking customers next year, according to a spokeswoman. It introduced the platform last year.
Bill.com's technology revolves around a series of apps for banks' small business customers. Among others, there are accounting (QuickBooks and NetSuite), document digitization and expense reporting apps.
"We believe that banks have the opportunity to reinsert themselves into the very center of their customers' business by taking advantage of the powerful financial automation available to them today," said René Lacerte, Bill.com's founder and chief executive, in a press release issued last week.
"We are committed to harnessing that power of the cloud to bring banks effective and efficient ways to help their customers thrive across many of their most common financial workflows and, in doing so, help the banks themselves build new revenue streams while increasing customer loyalty."