FINBOA Demonstrates Solid Growth in 3Q 2022

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Oct 14, 2022, 15:34 ET

Fintech acquires 16 new customers and is ranked #11 on HBJ Fast 100 List

HOUSTON, Oct. 14, 2022 /PRNewswire/ -- FINBOA, Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, welcomed 16 new financial institutions during the third fiscal quarter ending September 30, 2022. In addition to an expanded customer base, FINBOA experienced a 92% increase in revenue growth in 3Q 2022 over the same period 2021.

FINBOA was recently awarded 11^th place on the 2022 Houston Business Journal (HBJ) Fast 100 List. This list recognizes Houston-area private companies with the fastest revenue growth over a two year period. FINBOA secured their ranking with over 300% revenue growth from 2019 through 2022.

FINBOA attributes their continued success to offering a proven portfolio of SaaS software solutions specifically designed for banks and credit unions to transform complex back-office processing and the customer experience using digitization and Robotic Process Automation. FINBOA increases staff efficiency and accuracy, while reducing compliance costs, loss and risk.

FINBOA CEO and Founder, Raj Singal commented, "We've had great success with our solutions and plan to continue to grow the business with a focus on serving our customers well and maintaining our current product and industry focus. We have been able to leverage our deep expertise to help institutions with their transition to fully digital operations. We are actively expanding our current offerings, and developing new solutions, which will accelerate our growth."

FINBOA's industry recognized SaaS products digitize and modernize the inefficient manual processes and disparate systems commonly used to manage regulatory compliance processing for Payment Disputes, Loan Onboarding, Exception Management, Wires and Treasury Onboarding.

FINBOA partners with customers to ensure successful implementation and solution adoption. Account retention remains high as FINBOA users experience real results. For example, FINBOA's Regulation E Payment Dispute solution reduces claim-related losses up to 25% and process time by 90%, with an average implementation timeline of less than 60 days.

About FINBOA
FINBOA provides intelligent process automation to banks and credit unions to simplify and improve regulatory compliance by eliminating manual systems. Leveraging extensive industry experience and a commitment to customer service, FINBOA delivers transformative software proven to enable institutional growth by reducing operational costs and risk. FINBOA is headquartered in Houston. Learn more at www.finboa.com or follow us on LinkedIn, Facebook and Twitter.

SOURCE FINBOA