What are the partnership benefits for Banks and their Customers?

As we move through the digital economy, traditional financial models are evolving rapidly. Both banks and businesses are now adapting to new digital demands.  Businesses are looking for streamlined operations, real-time insights, and effortless financial management. Simultaneously, banks are striving to enhance their digital offerings (automated receivables and collections), expand their reach, and deepen customer relationships.

All of this is to create a powerful collaboration between banks and businesses for sustained growth and competitive advantage. This blog will explore how strategic partnerships deliver profound mutual benefits for banks and their diverse business clients, showcasing Hylobiz’s unique role in driving this digital evolution.

Hylobiz: Understanding the Solution

Hylobiz stands as a pioneering B2B collections platform, expertly designed to bridge the gap between financial institutions and businesses of all sizes – from large corporations to mid-sized firms and crucial SMEs. It is built on a robust, microservice-driven architecture, ensuring extensive API integration capabilities.

The platform enables businesses to effortlessly issue, reconcile, and collect payments across diverse channels. Holistic solutions are centered around key financial operations, including automated collections, streamlined expense management, and precise reconciliation.

Hylobiz Offering for Bank Partners & Businesses 

Hylobiz provides a powerful suite of services designed to enhance efficiency and control across a business’s financial operations:

• Digital Collections: Our pre-integrated payment gateway enables digital fund collection across multiple methods including Credit Cards, Debit Cards, UPI, and Net Banking. We also support collections through virtual accounts, helping businesses lower digital transaction costs.
• ERP Connect: Through deep integrations, Hylobiz seamlessly connects with pre-existing accounting platforms and ERPs, allowing businesses to effortlessly import invoices and automate the sending of payment links and reminders.
• Connected Banking: Integrating directly with Corporate and Core Banking APIs, Hylobiz transforms the banking experience for customers by enabling seamless, real-time payouts and reconciliation.
• Automated Reminders: Our robust rule engine powers customizable, multi-channel payment reminders (SMS, WhatsApp, Email, push notifications), significantly optimizing Daily Sales Outstanding (DSO).
• Powerful Dashboards & Reports: Gain instant, real-time visibility into collections, payouts, ageing reports, and overall business health through intuitive dashboards and comprehensive transaction-level reporting.
• Value-added Services: Beyond core automation, the solution facilitates crucial value-added services such as embedded trade financing, ensures compliance (e.g., e-invoicing), and provides enhanced solutions for overall customer process efficiency.

Why Choose Hylobiz to Partner with Banks? 

In a crowded fintech landscape, Hylobiz stands apart through a series of distinct advantages that redefine business automation and financial integration:

• Industry’s First Connected Banking Platform: Hylobiz proudly leads as the first platform designed to fully enable working capital and trade automation through its deep, connected banking capabilities.
• End-to-End Invoice Collection Platform: We offer the most comprehensive solution for invoice management, encompassing automated invoice import, real-time tracking, multi-mode digital collections, and industry-first reverse synchronization of payment statuses directly back into ERP systems.
• Seamless Integration with Zero Process Change: Our platform allows businesses to digitize their operations without disrupting existing workflows. We ensure 100% automated processes with custom configurations for tailored reminders and intuitive dashboards.
• Bank-Grade Security and Scalability: Built for robustness, Hylobiz guarantees a highly scalable and secure infrastructure, offering bank-grade security and ensuring zero downtime for mission-critical operations and secure data storage.
• Extensive ERP Ecosystem: Hylobiz boasts deep integration with over 20 leading ERP systems, including Tally, QuickBooks, Zoho, Oracle, SAP, Dynamics 365, NetSuite, etc., ensuring effortless data flow and reconciliation.

Partnership Benefits for Banks 

Financial institutions gain significant competitive advantages by integrating Hylobiz into their service offerings:

• Increased Revenue & Customer Acquisition: By providing cutting-edge digital solutions, banks can attract new business customers, leverage greater visibility into client networks, and significantly boost their Current Account Savings Account (CASA) floats and fee income.
• Enhanced Data Insights & Risk Management: Banks gain real-time, enriched data insights into their SME and corporate clients’ financial health, including trade ledgers, invoices, and payment patterns. This allows for more informed decision-making, precise risk assessment, and proactive client engagement.
• Optimized Loan-book Utilization: With access to comprehensive, verified trade data, banks can develop more accurate credit scoring models, optimize their lending strategies, and achieve more efficient utilization of their loan book.
• Cross-selling Opportunities: The platform enables banks to seamlessly embed corporate credit card data into payout workflows and creates robust opportunities for cross-selling various other banking products, including tailored financial products, insurance, and investment offerings, opening new revenue streams.
• Operational Efficiency & Reconciliation: Hylobiz drives remarkable operational savings for banks through its 100% automated reconciliation capabilities and end-to-end reporting across all transaction types (virtual accounts, ACH, and other collection/payout methods), ensuring unparalleled accuracy and reducing manual effort.

Partnership Benefits for Customers (Businesses)

Businesses partnering with banks that leverage Hylobiz experience a transformative shift in their financial operations:

• Streamlined Financial Operations: Customers benefit from significantly simplified collections and payouts, reducing manual efforts, minimizing errors, and directly contributing to improved cash flow predictability.
• Real-time Financial Control: Gain immediate, actionable visibility into their financial health, outstanding amounts, and payment statuses through intuitive dashboards, allowing for proactive and informed financial management.
• Enhanced Banking Experience: Businesses receive modern, integrated financial tools and seamless services provided directly by their trusted banking partner, fostering a stronger, more value-driven relationship.
• Access to Value-added Services: Through their banking partner, businesses can easily access crucial integrated services such as trade financing and compliance solutions (like e-invoicing) directly through their bank.
• Efficiency and Cost Savings: Experience tangible improvements in key metrics like Daily Sales Outstanding (DSO), which can reduce by up to 40%, alongside significant cost savings achieved through extensive process automation and reduced administrative overhead.

Join Hands with Hylobiz: Grab Benefits in One Go

A partnership with Hylobiz isn’t merely adopting a new platform; it’s a strategic decision to step into an era where banking relationships are fortified by real-time intelligence, seamless operations, and unparalleled efficiency.

This powerful synergy creates an ecosystem where complexities dissolve, collections are automated, cash flow optimizes itself, and real-time data empowers every decision. For financial institutions, it’s a direct route to expanded reach, deeper client loyalty, and undeniable competitive advantage. For businesses, it’s the foundation for accelerated growth, unprecedented control, and the freedom to innovate without financial friction.

The future of finance is connected, and the opportunity to lead is now. Seize it.  Partner with Hylobiz and unlock your unparalleled potential.