PayNet, Inc. and Akouba Announce Technology Collaboration
Small Business, Investment
CHICAGO, IL., – December 13, 2017 —PayNet, Inc., a leading data analytics company that provides credit assessments to improve small business lending, and Akouba, provider of a secure cloud-based small business lending and onboarding platform, announce a data and technology relationship. This digital lending platform combined with credible and reliable credit assessments enables lenders to safely and efficiently grant credit to small businesses to address the “Credit Gap.”
In addition, banks and credit unions are looking to generate more revenue and to lower the cost of delivering credit to small businesses. Industry-leading data inside the Akouba digital small business lending platform greatly enhances the customer experience and the underwriting automation for all financial institutions using the Akouba platform. “We are excited to integrate our data analytic capabilities to allow financial institutions access to PayNet Credit History Reports, PayNet MasterScore® v2, and risk management solutions as well as financial statement and tax return information directly from the Akouba platform,” states Paul Tennola, Chief Financial Officer, PayNet, Inc.
“Akouba is committed to creating integrated solutions that enable financial institutions to reduce end-to-end time, maximize the profitability of small business lending, and give customers and staff a better experience,” said Chris Rentner, CEO, Akouba. “The combined efforts to distribute this product into the market will allow all new and existing PayNet and Akouba clients access to the best data and user experience on the market.”
To learn more about the Akouba and PayNet combined offering, a free webinar will be presented on Wednesday, February 7 at 1:00 p.m. CT. For more information go to, https://www.akoubacredit.com/paynet.
PayNet Inc. is the leading provider of credit ratings on small businesses enabling lenders to manage credit risk, grow earning assets and operate credit at lower cost. PayNet maintains the largest proprietary database of small business loans, leases and lines of credit encompassing over 23 million contracts worth over $1.4 Trillion. Using state-of-the-art analytics, PayNet converts raw data into real-time marketing intelligence and predictive information that subscribing lenders use to make informed small business financial decisions and improve their business strategy.
Akouba provides cloud-based, white-labeled technology that delivers an end-to-end, omni-channel business lending platform endorsed by the American Bankers Association and Akouba Now, a digital onboarding software, with leading edge technology and integrations that delivers a great experience for all, which enables financial institutions to execute digital processes quickly, efficiently, and profitably.