Henry Smith
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ForwardAI announced as finalist in the 2022 Technology Impact Awards bit.ly
Henry Smith
6 days ago in Technology and Gadgets
ForwardAI was created to bridge the gap for banks, lenders, and other fintechs by providing easier accounting data access and faster client assessment. With several leading small business software integrations, the intelligent PreciseMatch™ tech, deep client analysis, unparalleled forward-looking data insights, and a complete suite of calculated KPIs and ratios, ForwardAI customers can turn client intake and risk assessment into only three quick steps.
Accounting and Financial Data API for Lending: Analyzing the Trends henrysmith81.tumblr.com
Henry Smith
7 days ago in Technology and Gadgets
Financial institutions allocate a significant portion of their operating expenses to software and services. These costs tend to increase over time as lenders become more dependent on digital solutions to streamline operations and generate value for their organization. Financial data APIs are an essential tool for fintech companies that need to implement fast, scalable, and cost-effective solutions for accountancy and financial reporting.
ForwardAI's June 2022 Company Update bit.ly
Henry Smith
2 weeks ago in Technology and Gadgets
Much like the rainy Canadian weather so far throughout 2022, ForwardAI has been 🌧️raining down articles, product updates, and press releases non-stop so far this year. We're hopeful that the weather will get better soon, but before that, come check out our Company Update and see what ForwardAI has been up to! ☀️
How can open accounting APIs assist in developing better products for lending to SMBs? financingconsultants.wordpress.com
Henry Smith
2 weeks ago in Technology and Gadgets
Lenders have always found it difficult to develop products that are appropriate to the needs of small businesses. The majority of lending products fall into two categories:- personal loans and institutional loans. But, both of these do not cater specifically to the requirements of SMB owners. Because of the lack of market coverage, SMB owners tend to depend on personal loans, but this isn’t the…
Open Accounting Data What is it that matters to SMEs henrysmith81.tumblr.com
Henry Smith
2 weeks ago in Technology and Gadgets
Every company sets up its management accounting accounts in its manner. Businesses operating in the same industry with a similar audience and business models often use completely different terms and concepts to define their performance. Accounting data gives insight into how an organization views its internal processes.
ForwardAI visits Fintech Nexus USA 2022 bit.ly
Henry Smith
2 weeks ago in Technology and Gadgets
After a long wait, conferences and tradeshows are finally returning in person! This year, ForwardAI is thrilled to be a sponsor at Fintech Nexus USA 2022 – one of North America’s leading events for innovation in financial services (previously LendIt Fintech USA).
Grow Your Businesses with Cash Flow Management Tips financingconsultants.wordpress.com
Henry Smith
1 month ago in Technology and Gadgets
You can’t run a business if you don’t have effective cash flow management. It is almost like trying to ride a bike fast without any paddles. While you may be successful for some time, having a poor cash flow management system is having a prominent chance that your business is out of business very soon. It is found in a banking study that businesses often fail…
Why SOC 2 is Critical for Fintech Companies bit.ly
Henry Smith
1 month ago in Technology and Gadgets
Nowadays, most companies understand the value of security and claim they are. But how much weight does a claim hold without concrete and objective proofs like a SOC 2 report? The SOC 2 report is a long and rigorous process, self-imposed and pursued by companies that take data security seriously. Although the SOC 2 report will vary between companies due to organizational differences, it is…
The Advantages of Forecasting Cash Flow for Businesses henrysmith81.tumblr.com
Henry Smith
1 month ago in Technology and Gadgets
Forecasting cash flow is the prediction of cash inflows or outflows for a company. Forecasts can be made for the near future, medium-term, or long-term. Forecasting allows companies to predict how much money they will have at a given time to invest and pay down debt. Forecasting also gives an estimate of the time it may take to pay for expenses such as payrolls.
Necessities of Cash Flow Forecasting Model henrysmith-hs81.medium.com
Henry Smith
1 month ago in Technology and Gadgets
Cash management excellence is possible with accurate cash flow forecasting. Cash is, as the saying goes, the lifeblood of a business and will always be so. The most recent cash flow forecasting tools are powered by intelligent technology to produce accurate cash forecasts that reduce manual effort and increase operational excellence.
The Fight For Eyeballs — Credit Unions Versus Accounting Platforms financingconsultants.wordpress.com
Henry Smith
1 month ago in Technology and Gadgets
There are three main problems with business banking: lack of transparency in decision-making, no one to talk to about important issues, and the feeling of being given a retail product with a different name. These issues will not force them to become commoditized utilities, but they will lose the attention of business owners.
How is Open Banking Paving the Way to Open Finance? bit.ly
Henry Smith
1 month ago in Technology and Gadgets
Open banking is a term that has been around for half of a decade. But, open finance is a new term. Open finance is the next step on the open banking journey. It is the exchange data between financial institutions. Open finance extends beyond what is available at your bank and allows third parties to provide even more customized services.
API To Get Financial Data: What You Need to Know henrysmith81.tumblr.com
Henry Smith
1 month ago in Technology and Gadgets
Financial data is essential for so many businesses. If your business is in the services industry, it’ll be even more important to you than other businesses. Knowing where you stand as a business in terms of revenue, expenses and financial standing is essential for knowing how to proceed with your business strategy and operations going forward.
ForwardAI and Fifo Capital Partner To Enhance Loan Underwriting Process For Small Business Clients bit.ly
Henry Smith
1 month ago in Technology and Gadgets
ForwardAI, a fintech providing aggregated access to accounting & business data and analysis, announced today its partnership with Fifo Capital, a leading provider of business finance solutions in Australia. Through the partnership, Fifo Capital will be enhancing its business loan underwriting process using accounting, financial and cash-flow forecasting data provided by ForwardAI's technology.
Growing Pains: Stuck on Excel bit.ly
Henry Smith
2 months ago in Technology and Gadgets
Finance staffers might think every business decision requires an Excel spreadsheet, just as to a person with a hammer, everything is a nail. The so-called “law of the instrument” refers to using one familiar tool for all purposes, even when it’s not the best solution.
Meet Digital Marketing Team | ForwardAI : Alex Niu bit.ly
Henry Smith
2 months ago in Technology and Gadgets
I didn’t start off knowing that I wanted to work in Marketing! I consider myself data-driven and analytical, and for a while, it seemed like walking a path closer to accounting or finance was right for me. I went to undergraduate at Wilfred Laurier University and did an accounting internship during the time, which I thought I would have loved (spoiler alert: I didn’t).
Reasons Why You Need an API for your Fintech Lender financingconsultants.wordpress.com
Henry Smith
2 months ago in Technology and Gadgets
APIs are the lifeblood of any digital ecosystem. They are the digital plumbing through which we connect and transact with services. If you’re reading this, you already know this. Your reader is probably already a digital native. An API is a set of protocols and software that enable third parties to connect to a computer network and exchange data with the API. It’s how third…
Fighting The SMB Funding Gap In Countries Worldwide bit.ly
Henry Smith
2 months ago in Technology and Gadgets
About 90% of businesses globally are small and medium-sized businesses (SMB). They account for 50% of employment worldwide and generate trillions annually. Despite significant contributions to the global economy, SMBs have an unmet financing need. Forty percent of micro, small and medium enterprises (MSMEs) found in developing countries need $5.2 trillion per year.
Are Challenger Banks Leading the Industry? bit.ly
Henry Smith
2 months ago in Technology and Gadgets
The rise of challenger banks has been a particular hallmark of the fintech industry over the last decade. Created to disrupt the traditional banking sector, challengers are full to the brim with innovative, often digital offerings aiming to serve customers in a variety of ways. With the customer taking centre stage and new found co-operation with incumbents,this month we explore some of the classic attributes…
4 Top Reasons SMB Lenders are Ignoring Credit Scores and Moving to Cash Flow-Based Lending bit.ly
Henry Smith
2 months ago in Technology and Gadgets
Lenders have always struggled to approve Small Business (SMB) borrowers efficiently at scale because of factors such as: 1) The slow, inefficient manual process of accessing borrower information 2) High loan rejection rate against “credit-invisible” borrowers 3) Increased default rate with inaccurate assessments of borrower risks
15 Smart And Informative Finance-Focused Resources For Small Businesses bit.ly
Henry Smith
2 months ago in Technology and Gadgets
As a small-business owner, it’s important to find high-quality information and educational resources you can trust to help you overcome common obstacles and achieve success. These resources may include finance-focused resources such as magazines, podcasts or blogs that aim to educate business owners about how to make the right financial decisions.
Why Challenger Banks Are So Attractive To SMB Clients bit.ly
Henry Smith
2 months ago in Technology and Gadgets
Alternative lenders aren’t afraid to use new tech and tap into underserved 'credit invisible' segments says ForwardAI.
Why Challenger Banks Are So Attractive To SMB Clients bit.ly
Henry Smith
2 months ago in Technology and Gadgets
The traditional lending process lacked flexibility but lenders today can make quick underwriting decisions confidently with APIs that provide access to real-time information and in-depth analysis. Flexible loan terms and repayment options are ensuring challenger banks are primed to meet SMB clients’ needs.
Financial Inclusion in Banking Can Be Improved With AI Says Fintech Industry bit.ly
Henry Smith
2 months ago in Technology and Gadgets
The rise of challenger banks has been a particular hallmark of the fintech industry over the last decade. Created to disrupt the traditional banking sector, challengers are full to the brim with innovative, often digital offerings aiming to serve customers in a variety of ways. With the customer taking centre stage and new found co-operation with incumbents, this month we explore some of the classic…
Open And Direct Accounting Can Help Make Lending Fairer bit.ly
Henry Smith
2 months ago in Technology and Gadgets
Data is the driver for lending decisions, particularly for small businesses that rely on their cash flow to fund operations. While banks tend to use different criteria for their lending decisions, most banks review the same data points to arrive at their decisions. Banks offer businesses many different loan products that range from traditional loans to lines of credit and credit advances, but as business…
Why is Canadian Fintech Sizzling? bit.ly
Henry Smith
3 months ago in Technology and Gadgets
In recent weeks, Canadian fintech companies have made major splashes in the world market. In the sphere of acquisitions, lending, funding, products and even digital assets, multiple Canadian cities and the companies that call them home have gained a reputation for being a focal point in fintech progression. Cities like Vancouver, Toronto, and Montreal have become start-up hotspots for companies looking to ride the wave…
Meet the Team: The Pets of ForwardAI bit.ly
Henry Smith
3 months ago in Technology and Gadgets
Pips is a 2-year-old cat I adopted right before the pandemic. Her mum was part of a nearby feral colony and had stunted growth, and Pips is tiny as well. You can often see Pips in the background of my camera looking out the window, watching for flappy snacks (birds) and guarding against pernicious squirrels. She often chitters at birds like a tiger chuffs. Pips…
How Automated Loan Underwriting Can Save Your Business Time and Money financingconsultants.wordpress.com
Henry Smith
3 months ago in Technology and Gadgets
The rise of online lending has revolutionized the way businesses obtain funding. Up until now, businesses had to turn to expensive and time-consuming alternative financing options. These options could be costly, and in some cases, they might not have been right for your business.
Is ‘Coopetition’ The New Competition? bit.ly
Henry Smith
3 months ago in Technology and Gadgets
The rise of challenger banks has been a particular hallmark of the fintech industry over the last decade. Created to disrupt the traditional banking sector, challengers are full to the brim with innovative, often digital offerings aiming to serve customers in a variety of ways. With the customer taking centre stage and newfound cooperation with incumbents, this month we explore some of the classic attributes…
Is ‘Coopetition’ The New Competition? bit.ly
Henry Smith
3 months ago in Technology and Gadgets
The rise of challenger banks has been a particular hallmark of the fintech industry over the last decade. Created to disrupt the traditional banking sector, challengers are full to the brim with innovative, often digital offerings aiming to serve customers in a variety of ways. With the customer taking centre stage and newfound cooperation with incumbents, this month we explore some of the classic attributes…
