Bankjoy Launches Its Business Banking Platform
Fintech startup Bankjoy has recently announced the official launch of its new powerful business banking platform aimed at helping small businesses become competitive in the financial services market by providing them with the digital tools they need.
The Bankjoy banking platform will help businesses save time on administration and financial tasks with its superior Invoicing, Company Formation, Payroll, Entitlements, and Wire Transfer features and an intuitive UX.
Bankjoy CEO Michael Duncan said for BusinessWire, “Small businesses have been demanding better digital banking capabilities for the better part of the last decade. In fact, 60% of business owners said they would switch financial institutions if they found one with superior offerings. But SMBs are not a monolith. Their needs vary, from payment processing to invoicing and so on.”
Instead of a generic platform, Bankjoy offers a customizable experience that enables partner banks and credit unions to better cater to small-business owners and fuel growth for local economies. All of these institutions can benefit from Bankjoy’s new technology that offers online loan origination, e-statements, online account opening, and conversational AI with intuitive, natural language features.
It wasn’t an easy task to achieve amid the growing competition in the financial market, with higher clients’ expectations and an increasing number of companies launching business banking services and streamlining transactions.
With small businesses in need of banking options that come bundled with other financial services and increased demand for more complex business tools, Bankjoy has launched its platform at the right moment.
Also, there was an evident need to support small-business owners in their struggle to rebound from setbacks they went through during the pandemic. According to research conducted by Meta, the devastating impact of COVID-19 has resulted in some 26% of small businesses wrestling with business-related expenses, such as loans, bills, rent, and employee wages.
Julia A. is a writer at SmallBizGenius.net. With experience in both finance and marketing industries, she enjoys staying up to date with the current economic affairs and writing opinion pieces on the state of small businesses in America. As an avid reader, she spends most of her time poring over history books, fantasy novels, and old classics. Tech, finance, and marketing are her passions, and she’s a frequent contributor at various small business blogs.
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