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Moven and upSwot form partnership

Moven, a company that enriches digital banking experiences for banks, credit unions, and fintech, is partnering with upSWOT, a leading fintech platform that enables service providers to support the success of SMB customers with data-driven embedded finance tools.

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 As a result of this partnership, Moven will be able to scale into serving the SMB marketplace, and access a new and immense global marketplace for its products and services.

Through their agreement, upSWOT will expand the arsenal of digital banking solutions that Moven is able to offer to financial institutions. The upSWOT platform offers many valuable embedded business management and embedded finance tools, all driven by cutting-edge data processing technology. As a result of this technology, financial institutions can have their customers connect data from 200 API-enabled apps of all kinds. These applications include popular accounting, ERP, payroll, e-commerce, CRM, marketing, and POS business applications.

“Small businesses are heralding a new world - one in which they are empowered to become more successful despite limited resources by leveraging an incredible diversity of business apps,” observes upSWOT CEO Dmitry Norenko. “However, with this incredible richness of technological resource availability comes a new and formidable challenge - how does one combine learnings and analyze information across so many apps?"

"Our partnership with Moven will allow more financial institutions to help their SMB customers solve this problem. The solution is incredibly complex on the back-end but incredibly user friendly with easy-to-understand and actionable output. Moven is a company that can lead this change together with upSWOT, and we are proud to work together to ultimately build the financial success of small businesses and their communities.”

"We're doubly thrilled to be partnering with upSWOT," notes Moven's Head of Sales and Client Success, Talene Shuck. upSWOT is doing vital and unique work in the flourishing SMB space. And entering this sector with such a formidable partner is a great opportunity. As the digital economy expands and digital natives are finding more avenues to step out on their own, SMB support will be crucial for fintechs and community financial institutions. This partnership is perfectly timed to take advantage of this expanding opportunity."

Moven will be able to offer financial institutions the ability to add upSWOT’s white-labeled financial tools to their online portals. These tools are all driven by this extensive combined data set, and as a result tailored to the SMB’s particular situation. Here are some of the innovative embedded finance and embedded business management tools that financial institutions will be able to provide to SMB customers as a result of this partnership:

The credit boost tool enables businesses to share data with credit bureau(s), which then boost their credit score as appropriate. Sharing proprietary data never causes a decreased credit score.

+The insight generator tool cross-analyzes multiple app datastreams to generate specific actions the business can take to improve their operations and profitability. Businesses will also get access to associated real-time analytics.

+The cash flow forecast tool will give businesses the ability to see their expected cash inflows, and the sensitivity analysis tool will help them understand the future impact of key possible decisions.

+The bank reconciliation tool auto-posts and categorizes all of the business’s transactions from their bank feed to their accounting app, allowing for rules to be set up to improve accuracy.

+The cash management tool gives businesses access to all their banking accounts (including accounts in different banks) as well as drill-down into transactions. This tool also aggregates all of the business’s invoices, bills, subscriptions in one place, and provides notification of upcoming amounts due.

+The business valuation tool gives businesses a valuation and estimate of market value, as well as the numbers and metrics that affect it. Results can also be compared with those of public companies.

+The funding access tool allows businesses to access credit products tailored to their current needs.

+The ecommerce management tool connects to POS and ecommerce apps and ensures that every step of the ecommerce transaction is tracked and performed on schedule, and provides sales analytics and insights.

Moven brings to the partnership its extensive knowledge of financial institutions’ digital banking needs, as well as countless trusted technology provider relationships with those institutions. Moven also brings its reputation as being at the forefront of financial innovation and financial wellness technologies. The Moven and upSWOT partnership is centered on leveraging complementary technologies and high-level cooperation to deliver truly spectacular fintech solutions to financial institutions.

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