upSWOT, Cion Digital to offer embedded finance tools

US-based fintech upSWOT has partnered with Cion Digital to help wealth managers and commercial loan brokers better serve SMBs with embedded finance tools

US-based fintech upSWOT has partnered with Cion Digital to help wealth managers and commercial loan brokers better serve SMBs with embedded finance tools. Cion offers an intelligent curation platform that matches business owners with the loan products that meet their financial needs and objectives, whereas upSWOT provides a data-driven platform that offers SMBs embedded finance tools needed for financial success.

As part of the partnership, the companies are looking to ensure that wealth managers and commercial loan brokers have the financial technologies necessary for giving SMB customers financial solutions to succeed in the digital age, while also building stronger relationships with said customers. Through this collaboration, upSWOT will support Cion’s institutional clients in offering to their SMB customers embedded business managements and embedded finance tools, built on data processing technology. The technology enables SMB customers to connect data from 200 API-enabled apps of all kinds, with them including well-known accounting, ERP, payroll.

Ecommerce, CRM, marketing, and POS business applications. Cion’s institutional clients will thus be enabled to better manage customer relationships by getting managerial insights across their portfolios in a timely manner and offering support and relevant financing at the right time in an SMB’s journey. Further details on the partnership Following the upSWOT and Cion partnership, institutions will be able to offer their SMB customers some of the following embedded finance and embedded business management tools: A credit boost tool that enables businesses to share data with credit bureaus to have their credit score boosted as appropriate, as sharing proprietary data does not cause a decreased credit score.

An insight generator tool that cross-analyses a multitude of app data streams in order to generate specific actions that the business can take for improving its operations and profitability, with the businesses also getting access to associated real-time analytics.   A cashflow forecast tool to enable businesses to see their expected cash inflows, and a sensitivity analysis tool to help them understand what the future impact of key possible decisions would be. A bank reconciliation tool that automatically posts and categorises all the businesses’ transactions from their bank feed to their accounting app, enabling for rules to be set up to have accuracy improved.

A cash management tool that gives businesses access to all their banking accounts, including those in different banks, and in-depth examinations into transactions. Furthermore, the tool aggregates all business invoices, bills, and subscriptions in one place, and offers notifications for upcoming due amounts.   A business valuation tool that offers businesses a valuation and estimate of market value, alongside the numbers and metrics that affect it, with the results being enabled to be compared with those of public companies.

A funding access tool that allows businesses to access credit products that are tailored to their needs. An ecommerce management tool that connects to POS and ecommerce apps ensuring that each step of the ecommerce transaction is tracked and performed on schedules, in addition to providing sales analytics and insights. As Cion has established relationships with institutions that understand the value of technology in better serving the financial needs of SMB customers and are already using Cion’s financial technology platform, they are in a position where they can take advantage of the embedded finance and embedded management components that upSWOT will integrate into Cion’s platform.

Through this partnership, the two companies are looking to bring a holistic fintech solution, with upSWOT officials stating in their press release that fintech is believed to have the power to reshape SMBs’ success, continuing to say that the partnership with Cion will enable institutions to offer to their SMB customers access to financial technologies tools to bolster their business, as well as the economies around them. Cion Digital representatives advised that the company’s focus is on using data and machine learning to enable financial advisors and commercial loan brokers to secure financing for their clients that meets their financial objectives and curate high-value relationships for lenders and financial institutions. Through the collaboration with upSWOT, the company will be given access to a multitude of data sources and next-generation insights to be used to match business owners to the financing they need and enable their customers to have their digital offering expanded with on-demand embedded finance and business management tools.

upSWOT, Cion Digital company information upSWOT is a fintech platform that enables service providers to offer their SMB customers data-driven embedded finance tools through means of their online portal. The tools offer real-time SMB performance data, trends, and insights; the upSWOT platform has connections to 200 SaaS products and is a powerful add-on to digital banking offerings. Cion Digital helps financial advisors, commercial loan brokers, and lenders with creating and expanding customer relationships through its intelligent curation and distribution platform.

The company uses data and machine learning to match potential borrowers with the right loan products and lenders based on their needs and financial objectives, and the lender’s credit requirements and ideal borrower characteristics. .

Nov 23, 2022 09:56
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