VSoft Expands Business Banking Functionality For Arya Platform
Summary
The company announced news on Monday (Oct. 23) that it is introducing business bill pay and cash flow management features for the Arya tool, which combines mobile and digital banking solutions aimed at streamlining financial management for its corporate banking clients. The solution supports ACH disbursements and wire transfers initiated from the platform, as well as fraud monitoring and business bill pay. With Arya, financial institutions can streamline multiple banking channels under a single access point, which makes it easier for businesses to manage their finances in one place and utilize administrative controls over employee roles and restrictions.” VSoft’s Arya platform surfaced at a time when traditional FIs were beginning to pair and collaborate with FinTechs in an effort to address the increasingly sophisticated needs of corporate banking customers. Nearly half of small businesses surveyed said they were considering switching banks because the FI lacked the products and services they wanted. Separate analysis from Temenos and Ovum, released earlier this month, found that larger corporates are also dissatisfied with their banks and are considering switching providers.
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