Autobooks Celebrates Record Year of Growth, Increased Distribution

Autobooks Celebrates Record Year of Growth, Increased Distribution
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DETROIT, Jan. 21, 2021 /PRNewswire/ -- Autobooks, the small business payment and accounting services platform, accelerated momentum throughout 2020, signing a total of 46 new bank agreements, while also announcing deployments with
The company closed 7 bank contracts in December and another 4 in the first two weeks of January bringing its customer portfolio to 86 financial institutions, compared to 36 at the end of 2019. The Detroit-based fintech works directly with banks and credit unions to provide integrated receivables to small and micro-businesses; a segment which has been historically underserved.
Autobooks has been successfully deployed with financial institutions across the United States representing a diverse range of asset sizes, from $50 million to over $350 billion. "To be successful in the SMB market, you must be ruthlessly efficient," says Jeff Blackman, CFO at Autobooks.  "Our payfac model embeds self-service merchant onboarding within internet banking, to provide a capital efficient way for financial institutions to acquire and engage business customers, both profitably and at scale." 

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