FINBOA Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, announced significant growth in new clients and revenue for FY2023. The company attributes its 44% increase in revenue to offering banking-centric SaaS solutions that anticipate industry demand, and the successful expansion of strategic partnerships.
In 2023, FINBOA’s installed base of customers grew to almost 200 financial institutions, comprised of U.S. based community or regional banks and credit unions. A key driver for implementing FINBOA for these institutions is the need to eliminate manual processing to increase efficiency, compliance and customer experience. In the past year, FINBOA expanded integration of its Payments Disputes solution with leading banking core systems and card processors; and secured PCI/DSS certification ensuring compliance with industry data security standards.
“FINBOA continues to experience solid growth in both new client acquisition and revenue. We’ve strategically invested in people, systems and partnerships that enable us to grow exponentially. For example, our Payment Disputes integration with leading core systems and card processors firmly establishes FINBOA as the leading provider of dispute process automation for banks and credit unions,” said Raj Singal, CEO and Founder of FINBOA, Inc. “I am excited about the opportunity to introduce more innovations in 2024.”
FINBOA continues to earn industry recognition, being named a 2023 finalist in Finovate’s Best Use of RPA award. Raj Singal, FINBOA’s CEO and Founder, regularly engages in key industry events providing thought leadership in the area of compliance process automation and business intelligence.
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