Business Banking Gains Traction

Many small and medium sized businesses are largely under-served by their financial institution. Over 89% of America’s businesses have fewer than 20 employees yet represent some $5.2 trillion per year in unmet financial needs.  This represents a significant growth opportunity for many FIs. 

To meet this market need, Bankjoy is rolling out key new features December 1st, 2022 which boost the utility for Business Banking. If you’d like to see the product in action, take a look at Bankjoy CEO Mike Duncan’s demonstration of Business Banking at September’s Finovate Fall 2022 conference. 

Key features in the December release include:

Dual Approvals on ACH, Wire and internal Transfers

Description: Provides fraud prevention along with visibility, check and balance capability on transfers for different users within the business.

Availability: December 1st 2022

Audience: Business owners, partners, businesses with tiered roles (such as employees, managers, owners)

Admin Transfer Hub

Description: It provides increased security and visibility for the FI admins through a one stop shop feature while giving them the capability to manage transfers. (i.e. stop, hold, process for risk and audits)

Availability: December 1st 2022

Audience: Financial Institution administrators who manage transfers

ACH Payment Type

Description: Enables users to initiate and manage a robust set of ACH payments.

Availability: December 1st 2022

Audience: Users with advanced ACH payments needs (such as Payroll and Vendor payments)

Feel free to Download our Business Banking white paper, or schedule a demo to see Business Banking live!