Autobooks helps financial institutions empower attract monetize understand small businesses

Since we launched Autobooks, we’re seeing business owners that had accounts at other financial institutions actually bring their business over to Community Choice Credit Union. For existing members who had accounts with us, we’ve been able to leverage Autobooks to become their primary financial institution.

So having a relationship with a company like Autobooks is what really changes the ecosystem, and it makes it better for everybody involved. Autobooks is far and away a leader in not only the small business space, but also a model in how to work with others. They know how to deal with the large institutions, the small institutions, the core companies — most of the fintechs out there ought to take a page out of their book.

Probably the greatest pain point for small businesses is actually getting paid for the services they provide. The new TD Business Simple Checking, powered by Autobooks, will make things easier, faster and enable our small business customers to get paid, almost immediately in most instances, when the process previously could take up to a week or longer.

We have four or five questions we ask ourselves every time we partner with a vendor. And one is, are you trying to solve a real problem? And are you passionate about solving it? Autobooks checks that box. Do you have a good business? Check. Do you understand the regulatory environment and how to deal with a bank? Check. So that's how things evolve. We're here because Autobooks is a great company, and other people should hear about that.

When Autobooks came about and we got knowledge of it, we said that is a perfect solution — we can partner with Autobooks. And I do consider it a partnership because your team is wonderful in helping us onboard the product, and to develop what works for us. Once we get a customer on, we've had a lot of success with them staying on. We see a lot of recurring payment cycles. Also, the information that Autobooks provides us on a monthly basis to see who the customers are, and the type of transactions they’re making, is helping us refine how our frontline interacts with businesses.