FINBOA Company Research Report
Company Overview
Name: FINBOA Inc.
Mission of the Company: FINBOA aims to improve compliance, efficiency, and customer experience by automating back-office processes, mainly for community and regional banks and credit unions.
Founding Information:
- Founded: No information is available.
- Founders: No information is available.
Key People:
- CEO: Dheeraj Singal
Headquarters:
- Location: Houston, Texas
Number of Employees: No information is available.
Revenue: No information is available.
Company Recognition:
- FINBOA is recognized for its process automation solutions, particularly in regulatory compliance for financial institutions.
- Trusted by more than 200 financial institutions across the United States.
Key Accomplishments:
- Ranked #650 on Inc. 5000 Fastest Growing Companies List in 2024.
- Winner of the Independent Community Bankers of America® (ICBA) ThinkTECH Accelerator All-Heart Award.
- Named as a finalist in several prestigious awards, including the Fintech Futures Banking Tech Awards and the Finovate Awards.
Products
1. Reg E Dispute Management:
- Description: SaaS solution to streamline Regulation E dispute management using process automation.
- Key Features:
- Automates claim processes to reduce processing time by up to 90%.
- Includes compliant letters and digital signatures.
- Reduces staff workload and improves the client experience.
2. Treasury Onboarding:
- Description: Automates treasury services onboarding to improve operational efficiency.
- Key Features:
- Automated lead generation and digitized intake processes.
- Ensures compliance with financial regulations.
- Enhances the experience for both employees and customers.
3. Exception Management:
- Description: Automates Customer Identification Program (CIP), Customer Due Diligence (CDD), and loan exception management.
- Key Features:
- Automated alerts and compliance letters.
- Quick exception clearance and processing.
4. Loan Onboarding:
- Description: Digital automation for loan onboarding processes.
- Key Features:
- Simplifies the loan process.
- Ensures regulatory compliance and improves client experience.
5. Wires:
- Description: Automates the wire approval process.
- Key Features:
- Replaces paper-based processes with digital workflows.
- Enhances speed and compliance.
6. Digital Process Automation:
- Description: Automates back-office processes to streamline compliance.
- Key Features:
- One-click automation rules.
- Reduces manual workload and ensures compliance.
Recent Developments
Recent News and Articles:
- September 4, 2024: Published an infographic on the most common Reg E mistakes.
- August 13, 2024: Ranked #650 on Inc. 5000 Fastest Growing Companies List.
- July 31, 2024: Dheeraj Singal won the ICBA ThinkTECH Accelerator All-Heart Award.
- July 16, 2024: FINBOA to present and exhibit at the 2024 MEA Financial Users Conference.
- May 15, 2024: Selected for the ICBA ThinkTECH Accelerator Program.
New Products Launched:
- No specific new products mentioned.
New Features Added to Existing Products:
- No specific new features mentioned.
New Partnerships:
- Announced partnership with MEA Financial.
Note: Some specific data points, such as the number of employees, revenue, and founding details, are not available from the provided data.
