Bank of America goes live with 9 Spokes’ white label platform

Bank of America has now officially launched 9 Spokes’ (ASX: 9SP) white label platform, which complements the bank’s Business Advantage 360 cash flow management dashboard by allowing integration of key third party data.

According to 9 Spokes, its platform extends the functionality of the bank’s dashboard to provide more complete, data-driven pictures of a business’ performance.

“Delivering the platform to Bank of America, and, subsequently, to see it go live is incredibly satisfying for the team,” 9 Spokes chief executive officer Adrian Grant said.

“Going live marks the start of a new period in our relationship with Bank of America and we look forward to extending the number of business apps and platform functionality as we work with our bank partners to provide a richer experiences to small businesses enabling them to make faster, better-informed business decisions,” he added.

Bank of America launched its Business Advantage 360 dashboard in February last year with more than 1 million of its business owner clients engaging with the platform.

9 Spokes’ platform enables connections with “best of breed apps” including QuickBooks Online, Run powered by ADP Payroll, Google G Suite and Google Analytics.

Bank of America stated the integration of key third party apps enables small business to create a more complete financial picture.

“One year after launching Business Advantage 360, we’re taking this solution to the next level to help our clients focus on the many other tasks that make their businesses successful,” Bank of America head of small business Sharon Miller said.

“The insight and data integration upgrades create incredible convenience for entrepreneurs to manage their businesses’ complete financial picture,” Ms Miller added.

9 Spokes platform

9 Spokes’ technology enables small businesses to connect their cloud software to its platform using the Tracker tool.

This gives businesses a “near real-time picture” of how they’re performing across the metrics that matter most – enabling fast decisions to be made.

The company offers its technology to banks and other financial service providers as a white label platform, giving enterprises the ability to deliver it under their own brand.

Cashed up for 2020

This morning’s positive news follows 9 Spokes’ $4 million placement, which was announced at the end of January.

9 Spokes has completed the first tranche – issuing 233.3 million shares to raise $3.5 million.

Placement proceeds will be used to accelerate product development and growth.

In early morning trade, 9 Spokes share price was up 4.35% to $0.024.