NEW YORK, Oct. 22, 2019 (GLOBE NEWSWIRE) -- Biz2Credit, a leading online credit resource for small businesses, today announced that it is partnering with Infosys, a global leader in next-generation digital services and consulting. The companies aim to equip financial institutions with solutions to establish the modern digital bank.

Infosys will become the key technology integrator for Biz2X by Biz2Credit, a global SaaS platform that enables financial institutions to provide a customized online lending experience for their customers.

This fusion of digital lending and core banking software that will come from this integrator partnership is a major step in the FinTech industry. It creates a fully-equipped suite of digital bank capabilities as a turnkey solution. The partnership announcement comes at a time when platform providers and integration-technology enablement firms are positioning their services for financial institutions to become online digital banks.

“Infosys is excited to partner with Biz2Credit and utilize its Biz2X Platform to assemble innovative solutions for data monetization, underwriting, and lending. Financial Institutions will benefit from our partnership and leverage this solution to accelerate their journey to becoming truly digital,” said Narayan Sivaram (Nans), VP and Global Head of Cards and Payments at Infosys. “We look to partner with leading FinTechs such as Biz2Credit, which are at the forefront of online business financing. Together, we can make it easier for banks to reimagine lending and embrace innovation faster.”

“Biz2X is the best way for banks to provide business owners with a variety financing products, including traditional bank term loans, SBA loans, business lines of credit, and other funding options,” said Rohit Arora, CEO of Biz2Credit and a pioneer in the FinTech industry. “Our Biz2X Platform uses the latest technology to connect small business owners with financing options based on each potential borrower’s unique credit profile. Through our open ecosystem of API connections, Biz2X clients will benefit from Infosys’s industry-leading integration capabilities for a wide range of technology needs.”

In the conventional banking model, the lending process is paperwork-heavy for the customer and expensive for the bank. The Biz2X platform is designed for banks that are ready to streamline that process. Biz2X uses a streamlined user interface, AI-driven analytics and a customizable white label environment to help banks enhance their core services such as offering focused customer service, growing their portfolio, and increasing the use of their products.

The Biz2X platform offers end-to-end loan management features, including:

  • Loan Level Pricing
  • A Risk Analytics Tool Suite
  • Credit Policies Configured to Banks’ Needs
  • An Intelligent, Dynamic Application for Each Product Type
  • Low to No IT Work Required
  • Cross-Device Compatibility

Advances in risk management are among the greatest benefits for Biz2X customers. Biz2X uses artificial intelligence (AI) and machine learning (ML) extensively to automate key risk assessment tasks. Through a combination of natural language processing, image analytics and using data from tens of millions of financial transactions by small and medium businesses, Biz2X offers banks a way to automate manual tasks in the underwriting process and improve the customer experience.

Biz2X/Biz2Credit
Biz2Credit was founded in 2007 with one goal: make the business financing process work better for lenders and their customers. Since its inception, Biz2Credit has arranged more than $2 billion in small business financing and has several times been named to Crain’s New York’s Fast 50 and was ranked among the top 200 fast-growing companies on Deloitte's 2018 Technology Fast 500. The company offers its Biz2X Platform to banks and other financial institutions to allow them to better manage loan processes and related risks. The Biz2X Platform is SOC 2 and ISO 27001 certified and runs on Amazon Web Services with 99.9% availability.

For inquiries, contact platform@biz2credit.com. For more information about Biz2Credit and Biz2X, visit Biz2Credit.com and Biz2X.com.

Media Contacts: Sherry Shokoohy, (212) 999-5585, biz2credit@5wpr.com