Andera, one of BTN's top 10 tech companies to watch, will soon provide the account opening technology for Intuit's financial clients.
Intuit Financial Services serves about 2,900 financial institutions, providing about 1,100 with digital banking (online and mobile) and 1,800 with TurboTax and other financial management capabilities.
The companies, partners since 2009, announced Wednesday they have begun working to integrate Andera's account opening software into Intuit's digital banking offerings.
Andera's oFlows platform allows bank customers to originate and fund new accounts and loans from mobile devices. The platform takes advantage of native mobile technologies, such as the camera, to eliminate the need of filling out physical paperwork. BTN chose the company as one of it tech companies to watch because of the ease and simplicity of its account opening software for smartphones and iPads, and the high demand among banks for technology that can do this.
"Mobile devices have changed people's expectations of the services they can get from their financial institution, and how fast or conveniently they can have access to them," said John Flora, director of product management for Intuit Financial Services, in a press release. "Expanding our relationship with Andera will help us provide financial institutions with an experience that meets the needs of today's digital banking customer."
Andera, of Providence, R.I., counts more than 550 financial institutions as clients. More than 100 of those are also Intuit clients.