By Rob Starr, Big4.com Content Manager
Finagraph provides automated financial intelligence tools and data verification to financial institutions. They recently announced the acquisition of BBI Financial (http://www.relationshipbankingacademy.com), a financial services firm that provides training and education programs for bankers and business owners. The deal marked a big move forward for the robust analytics and comprehensive information company and James Walter, co-founder and CEO of Finagraph, answered some questions about the acquisition.
What’s the history of the relationship between Finagraph and BBI Financial?
Finagraph started working with BBI about one year ago. Both parties shared a vision for how lenders and business owners can understand business financials in a more complete manner. BBI tackled the issue by training lenders and business owners while Finagraph created technology to make the numbers easier to get, and easier to understand.
What need does the acquisition serve?
The acquisition aligns two companies with similar visions. It grows our portfolio of products and services for lenders and their business clients by giving more options for how to understand financial intelligence.
What’s different about the new approach here that stresses education for banking clients?
Finagraph.com is great technology that gives lenders the power to understand their clients’ business in real time. By adding the training and education of BBI, we now have the core curriculum to help lenders and business owners fully understand the reasons, the why, the how of the numbers and what it means to have a low ratio, or a low KPI.
What are the other big takeaways?
By combining education, training and the latest technology, lenders and business owners can take advantage of as much or as little intelligence as their business needs.
What’s in the future?
We want every lender, every business owner and every accountant out there to have full access to the power of Finagraph and the education behind it. The more businesses that understand how their numbers can help them run their business, the better. The more lenders and accountants are seen as advisors to their clients, the better all of the small businesses out there will be managed and run.