Financial Institutions Empower Data Points for Financing Programs

Financial Institutions Empower Data Points for Financing Programs

Financial Institutions (FIs) engage in complex workflows, business processes and digitization overhead to serve their vast customer base and help them explore embedded financing options.

From lengthy customer onboarding processes to inadequate risk monitoring, FIs need targeted financing programs to automate business collections and payouts for their business customer base.

Vayana’s Hylobiz can automate and digitize collections and payouts for its FI partner’s customers. With the help of structured data available on the SMBs, Banks and Financial Institutions can offer comprehensive financing programs tailored to each customer.

Financial Institutions and their Customer Needs for Collections and Payouts Digitization

Traditional collections and payouts are tedious, time-consuming and have higher chances of manual errors. This may often result in inaccurate information collection and lead to financial risks and fraudulence in the long run.

Thus, there is a space for FIs to serve their customers better by adapting digitization and automation, i.e., switching to Hylobiz for Financial Institutions. SME or Corporate customers transacting in huge volumes can carry out on-time collections and reconciliation with Hylobiz. They can even track real-time transactions and access smart dashboards for automated business reports.

With Hylobiz’s digitization of collections and payouts, financial institutions partner customers can streamline their daily operations, enhance data security, and monitor risks. Customers need business process automation for faster transactions, efficient operations, and minimization of errors.

Advantages for Financial Institution’s Customer Base

Hylobiz is an advantage not only for FI partners but also for their customer base. As a comprehensive platform offering financing programs for SMEs/Corporate customers, they have the following benefits:

  1. Invoice collections – Tracking invoices, digital collections and payment methods with a pre-integrated payment gateway.
  2. Bank-grade security with zero downtime – The customer data is safe and secure and can be accessed anytime for definite purposes.
  3. Automated processes and business dashboards – Customers can use business dashboards and real-time reports to gather insights.
  4. Pocket-friendly prices – Customers can avail of ‘Pay-as-you-go’ billing options through super powerful billing engines.
  5. Connected banking – They can avail of real-time vendor payout automation and reconciliation.

Features of Hylobiz Leveraged by Banks and Financial Institution Partners

Hylobiz for FIs serves as an all-in-one platform and possesses captivating features that are leveraged by its FI partners. These smart features allow the FIs to serve their business banking customers at their best by leveraging smart data points and, thereby, maintain a firm relationship throughout.

These FI partners empower the below-listed Hylobiz features to meet the objective of their financing programs.

  1. Connected Banking – Hylobiz offers automated collections and payables with integrated ERPs, enables payment gateways and allows access to build secondary sales networks for cross-selling various banking products like lending or insurance.
  2. API Services – These enable 3rd party service providers to ride the platform core and enhance service footprints along with the delivery of custom workflows.
  3. Dashboard report and data insights – Hylobiz enables a quick digital onboarding journey with lead generation automation. Smart dashboards and reports allow tracking of total collections and payouts.
  4. Embedded financing – With Hylobiz, FIs can embed commercial cards as part of the payout workflow to acquire new bank customers seamlessly.
  5. Trade Financing – Flexibility to initiate financing requests from either side of the trade relationship with validations.

Hylobiz for Financial Institutions comes with zero process changes and set-up costs. It operates via the PaaS model and has a commercial partnership approach.

Hence, Financial Institutions in partnership with Hylobiz can reach out to a wide base of borrowers. FI partners can also gain transactional revenue via digital payments from credit/debit cards, virtual accounts or wallets and monthly Saas from the business customers.

Hylobiz has a highly scalable & secure infrastructure with zero downtime to help its FI partners maintain a compelling relationship with business banking customers.

Hylobiz Empowering Partnered Financial Institutions

Hylobiz Partner Banks and Financial Institutions are growing their business clients’ network with automated collections and payables through integrated ERPs. It is built around the above-listed features that are highly scalable and FIs’ customers need not have any change in their processes. The financing programs for SMEs and Corporations leverage smart data points with Hylobiz to facilitate seamless transactions and bridge the gap between businesses and banks.

Hylobiz has zero set-up cost and no such downtime to elucidate the smooth digitization of business processes. It ensures that the FI business banking customers are making the most benefits by exploring the financing programs and maintaining a healthy relationship between them.

Why not collaborate with us to serve your customers better? Get in touch for a demo session click here.

Frequently Asked Questions

How can Hylobiz improve customer satisfaction for business banking clients?

With Hylobiz, business banking clients can digitize their business processes, automate their payments and collections, access smart dashboards and generate real-time reports. The technology is easy to adopt with no major process changes, no set-up cost, and zero downtime.

Can Hylobiz help FIs offer targeted financing programs for SMEs?

As a comprehensive platform, Hylobiz offers automated collections and payables with integrated ERPs, data insights for cross-selling other banking products (lending/insurance), and a highly scalable, secure infrastructure with zero downtime. Third-party API services, trade financing and embedded financing with Hylobiz help FIs offer targeted financing programs for SMEs.

What are the benefits of Hylobiz for FIs’ customer base?

The benefits of Hylobiz for FIs’ customer base are as follows:
– Tracking invoices with a pre-integrated payment gateway.
– Data safety and security.
– Access business dashboards and real-time reports.
– Avail of real-time vendor payout automation and reconciliation. 

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