Data platform 9Spokes launches multi-bank feature for SMBs

Data platform 9Spokes, which specialises in integrating and aggregating business and financial data, has launched a multi-bank feature to give SMBs “a complete financial picture”.

The new feature provides SMBs with a consolidated view of their financial accounts across multiple institutions and service providers.

According to 9Spokes, more than 40% of SMBs manage their finances through multiple financial providers.

The company aims to address this with its new multi-bank view by giving SMBs, which make up more than 90% of businesses in the US and UK, “an integrated snapshot of their financial landscape”.

“Understanding the complete financial picture of SMB customers can be a significant challenge,” said Kevin Phalen, executive chairman at 9Spokes.

“Our multi-bank view harnesses the power of Open Data to provide a holistic view of financial statuses, empowering businesses and financial providers alike with the information needed to make informed decisions.” 

9Spokes highlighted several benefits for SMBs that adopted the feature, including enhanced customer insight, personalised services and increased efficiency.