FINBOA Continues Growth Trajectory in Third-Quarter Performance

Dec 02, 2024, 12:45 ET

Direct Sales and Distribution Partners Drive Expansion of Client Base

HOUSTON, Dec. 2, 2024 /PRNewswire/ -- FINBOA Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, has reported a commendable 46% year-over-year increase in third-quarter revenue, indicating a steady growth trend.

Since the start of the year, 44 new financial institutions have adopted FINBOA's Payment Disputes, bringing FINBOA's total customer base to more than 250 financial institutions nationwide. Achieving a 50% increase in add-on sales demonstrates success in expanding business with existing clients.

"The FINBOA team is entering the final quarter of 2024 with strong momentum," said Raj Singal, CEO and Founder of FINBOA. "With the launch of innovative offerings like our business intelligence product for disputes, we are confident in sustaining this growth into 2025. We look forward to unveiling new partnerships and expanding our solutions to drive further success."

Driving Efficiency and Compliance
FINBOA's Payment Disputes SaaS solution helps financial institutions ranging from hundreds of millions to tens of billions in assets reduce compliance costs, mitigate risks and enable more efficient dispute resolution.