FINBOA Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, reported substantial gains in new client acquisitions and revenue in the first quarter of 2024. FINBOA reported a 43% gain in new customer acquisition in 1Q2024, and exceeded the 200 customer mark. In 1Q2024, FINBOA revenues increased by 73% over 1Q2023 performance. Acknowledging the transformative value of FINBOA’s Payment Disputes software, the 2024 Banking Tech Awards USA named FINBOA a finalist in the category of Best as-a-Service Solution for Payments. To round out the quarter, FINBOA announced a new partnership with MEA Financial to offer integrated dispute intake and automated compliance processing for MEA customers.
“During the first quarter of 2024 FINBOA was intently focused on the customer experience, hosting a well-attended annual user summit, and expanding our client portal to provide easy access to information and support resources for our Payment Disputes solution users,” said Raj Singal, CEO of FINBOA. “The results are a testament to FINBOA’s determination to offer a best-in-class process automation solution for compliance-based payment dispute processing.”
FINBOA offers compliance process automation that transforms back-office processing and customer experience for financial institutions. FINBOA’s Payment Disputes SaaS solution helps to reduce compliance costs and risk for institutions with assets ranging from hundreds of millions to tens of billions.
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