Autobooks now lets small businesses handle invoicing, bill pay, and accounting-all within their online or mobile banking.
Autobooks, the leading provider of receivables, accounting, and cash flow management tools integrated within digital banking, announced the acquisition of Allied Payment Network, a trusted provider of business and consumer bill pay solutions. This strategic acquisition strengthens Autobooks’ all-in-one platform by adding business bill pay capabilities — empowering financial institutions to offer small businesses a complete solution for sending invoices, accepting payments, paying vendors, managing their books, and accessing working capital — all from within online and mobile banking.
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With the addition of Allied Payment Network’s proven bill pay infrastructure, Autobooks now delivers the most comprehensive small business finance solution available inside digital banking. Financial institutions can now support both sides of the money movement equation — receivables and payables — while also helping businesses stay organized with built-in accounting and cash flow tools. The result is a deeper, more valuable relationship between the institution and its business customers.
“Financial institutions want to deliver more value to their business customers and they want to do it within the banking experience. By acquiring Allied Payment Network, we’re bringing together receivables, payables, and accounting in a way that’s never been done before.”
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“Financial institutions want to deliver more value to their business customers — and they want to do it within the banking experience. By acquiring Allied Payment Network, we’re bringing together receivables, payables, and accounting in a way that’s never been done before,” said Steve Robert, CEO of Autobooks. “This is more than a product expansion — it’s the next step in our mission to help financial institutions compete by offering small businesses the tools they need to succeed.”
“Allied Payment Network has spent more than a decade helping financial institutions bring modern bill pay solutions to market — and we’re incredibly proud of the trust we’ve built and the relationships we’ve formed along the way,” said Geoff Knapp, CEO of Allied Payment Network. “Joining Autobooks marks an exciting new chapter. By combining our strengths in payables with their all-in-one receivables and accounting platform, we’re setting the stage for what’s next in small business banking — a more complete, connected experience delivered right inside digital banking.”
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The acquisition builds on Autobooks’ proven track record of delivering new product innovations and enhancements designed specifically for small businesses. The addition of business bill pay provides immediate value to small business owners by integrating vendor payments and accounting in one place — simplifying financial management and improving cash flow visibility. This foundation sets the stage for future payable and spend management innovation that will further help businesses consolidate and control expenses more efficiently directly within their digital banking experience.
“Autobooks has already helped us transform the way we support small businesses — and this acquisition only makes the platform stronger,” said David Barrows, SVP – Director of Digital Banking at United Community Bank. “By combining invoicing, bill pay, and accounting into a unified experience, they’re solving real problems for business owners. We’re excited about what this means for our customers and our long-term digital strategy.”
With invoicing, payment acceptance, accounting, working capital, and now business bill pay all integrated into one solution — directly offered through digital banking — Autobooks makes it easier for small businesses to manage their finances and for financial institutions to deepen engagement where it matters most.
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Source: globenewswire
