Kiwi company 9 Spokes announced this morning it has entered into a three year deal with Bank of America (BoA), and thus, 3.5 million Small American Businesses.
Under the deal the BoA SB customers will have access to a white-labelled platform powered by 9 Spokes, which Bank of America will use to expand their offering to the 3,5 million customers.
9 Spokes technology is a tracking tool designed to help Small and Medium Businesses (SMEs) enhance their performance by collating and sorting their business data so they can more easily see their progress against the things that matter most to their business.
BoA will take the 9Spokes tech and incorporate it into their existing Business Advantage 360 platform. The platform is currently a cash flow dashboard for small business customers. But 9Spokes will add lots of other goodies, along with a small business app market place.
Using 9Spokes, if small businesses agree, they can allow a bank to have a live picture of performance streamed to the bank which can aid and speed up finance if required.
I spoke with Adrian Grant, co-founder of 9Spokes, a short time ago.
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