HOUSTON--(BUSINESS WIRE)--FINBOA, Inc., a leading innovator in digital process automation and regulatory compliance for financial institutions, experienced a significant third quarter in terms of industry recognition and business growth.
In Q3 2021, FINBOA achieved 185% revenue growth over the same quarter results in 2020. Additionally, the size of FINBOA’s customer base has nearly doubled over the same time last year, adding notable clients such as Legence Bank and BankSouth. FINBOA products, including Dispute Management for Regulation E Transactions; Exception Management for CIP, CDD, and Loans; and Workflow Management for Wire Approvals, are designed to simplify compliance and back-office operations by using process automation.
Raj Singal, CEO of FINBOA, said, “We are dedicated to giving our customers solutions to help them succeed. Relying on outdated manual systems and costly operations can be solved through automation that simplifies, streamlines and expedites the process, beginning to end. FINBOA transforms back-office processes, automating key regulatory compliance requirements. Staff benefit from a better way to reach dispute resolution, and customers experience a quick and easy process.”
Additionally, the company was selected as a 2021 Finovate Awards finalist in the Best Back-Office/Core Services Solution category. “Our team works relentlessly to create innovative solutions that allow banks and credit unions to empower their back-office workforce through process automation,” Singal said. “We are proud to have garnered this honor due to that dedication.”
FINBOA is a leading innovator in back-office process automation for banks and credit unions. Leveraging more than 30 years of experience, FINBOA has created solutions to reduce compliance cost and reputational risk by bringing together digital transformation, regulatory compliance, RPA and customer experience. Headquartered in Houston, FINBOA engages in partnership with financial institutions across the U. S. to achieve targeted business outcomes and peace of mind.