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Michigan Credit Union League

CU Solutions Group and Autobooks Announce New Partnership

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On Jan. 11, CU Solutions Group (CUSG) and Autobooks announced a joint venture to provide credit unions with an automated bookkeeping and cash flow management tool for their small business members. The fintech startup’s technology streamlines and simplifies financial services for users by seamlessly integrating financial management and accounting into a single platform. Autobooks delivers what other small business accounting tools can’t—immediate access to a suite of smart cash flow tools such as invoicing, payment acceptance and accounting through their online credit union account.

“Small business owners expect technology and services typically only available from mega-banks, until now,” said Autobooks CEO Steve Robert. “Autobooks levels the playing field for credit unions, helping to better serve business members. Our turnkey solution can be deployed quickly and cost effectively, helping to grow deposits and increase non-interest income.”

Small businesses continue to face challenges in the economy, jockeying for position in communities. Roughly 82 percent of businesses fail due to cash flow management. Autobooks’ mission is to fuse banking strength with accounting intelligence to power small businesses into the future.

“Together, CU Solutions Group and Autobooks will provide the resources necessary to help credit unions become a digital destination for businesses to thrive,” said Robert.

Autoboks meets the surging demand as consumers seek out innovations in mobile offerings, big data and automation. It provides credit unions with a secure, cloud-based payment and accounting solution to help their small business members run their operations more efficiently. The user-friendly software equips small business members with financial tools that speed cash flow, reconcile accounts and accelerate growth while helping credit unions gain data insights and deliver more value to members.

"We invested in Autobooks to offer credit unions tools to help their small business members succeed, not just provide them with capital to grow their businesses," said Dave Adams, CUSG president and CEO. "We're excited to partner with a forward-thinking company that makes the best interest of small business a priority."

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2018-01-12 00:00:00