Biz2X launched a new account opening product that will allow business banking clients to open new deposit accounts with the goal of enabling faster funding for borrowers. The new software offers:

• Digital application with business and validations
• Automated ID verification, KYC and validations
• Compliance questionnaire and e-sign
• Banker dashboard to review requests
• Data transfer to a client bank’s core system

“In today’s competitive market, the ability to onboard new client accounts seamlessly has never been more critical, as financial institutions are in a battle for depositors and face increasing competition from neo-banks and fintechs,” Aaron Traub, chief product officer for Biz2X, said.  “We worked closely with our clients to develop a best-in-class solution that removes much of the friction from the process. It’s a natural complement to our lending platform.”