Biz2X launches ‘Account Opening Product’ for banking clients

By Delisha Fernandes

Biz2X has announced its new Account Opening product. This technology allows banking clients to quickly and efficiently open new deposit accounts, enabling faster funding for borrowers.

New small and medium-sized businesses are cropping up every day. The integration of Biz2X’s Lending and Account Opening products can help to win their deposit accounts, as well as streamline lending to them. For financial institutions seeking a more efficient and streamlined account opening process, Biz2X’s software provides a secure and user-friendly solution.

The new software offers:

• Digital application with business and validations;
• Automated ID verification, KYC, and validations;
• Compliance questionnaire and e-sign;
• Banker dashboard to review requests; and
• Data transfer to the client bank’s core system.

The seamless integration into existing banking systems from Biz2X’s new Account Opening product will allow financial institutions to open accounts faster and more accurately. The offering enables users to deliver a superior customer experience while reducing costs and improving compliance.

“In today’s competitive market, the ability to onboard new client accounts seamlessly has never been more critical as financial institutions are battling for depositors and face increasing competition from neo-banks and FinTechs,” said Aaron Traub, Chief Product Officer for Biz2X.  “We worked closely with our clients to develop a best-in-class solution that removes much of the friction from the process. It’s a natural complement to our lending platform.”

Biz2X is the platform for business lending at banks and financial institutions of all types and sizes. Lenders choose the platform because they want to succeed in business lending. Biz2X makes this possible through its unique technology that provides enhanced loan management, servicing, risk analytics and a configurable customer experience.