A Quick Analysis of Bank Data? Kuboon!
Accessing a small business borrower’s bank statement data is nothing new but Kuboon, not to be confused with kaboom, gives the whole experience an upgrade. A lender can embed Kuboon’s technology into their existing CRM with a simple line of code and be up and running in no time.
According to Kuboon VP of Sales Brysen Partridge, the technology doesn’t necessarily compete with universal tools like Plaid and Finicity because Kuboon actually uses them too.
“So we compare differently because our engines are far more advanced,” said Partridge, “[The big aggregators] give you a small out of the box engine of just giving the transactions and then you have to come up with your dev team to try and filter out and fix and categorize all those transactions and make them into something useful. We do all that for you…”
Partridge said that’s far from everything. “It’s not just bank details,” he said. “We have payroll and ID data. We have other sources that are coming in soon that will provide a ‘complete integrated intelligence.'”
Recognizing that not everyone will embed it, Partridge said that Kuboon can also be used as its own standalone CRM, a feature they call Kuboon Lobby and that many clients choose to use it this way.Last modified: February 8, 2023