Bill.com Unveils Connect: The First Platform Designed To Help Banks Transform Business Banking

With Bill.com Connect, a new digital payments solution, banks cement longer and richer relationships with small and medium business customers. End Quote

San Diego, CA (1888PressRelease) November 10, 2016 - Bill.com, the leading business payments company, today announced the launch of Bill.com Connect, the first digital payments solution built from the ground up to help banks cement longer and richer relationships with small and medium business customers. With Bill.com Connect, banks now have an alternative to souped-up consumer solutions and watered-down commercial platforms for SMB customers. As branches disappear and online solutions come into focus, Bill.com is giving banks the tools they need to become the home for small and medium business payments.

"Small and medium businesses have been caught between consumer and commercial banking solutions for far too long," said René Lacerte, CEO and founder of Bill.com. "Bill.com Connect closes the gap. Now, banks can finally deliver a single platform for business payments that scales alongside their small and medium business customers as they grow. It's an absolute game changer for business banking."

According to a recent survey of banking executives conducted by Bill.com in collaboration with SourceMedia Research, 91% of banking industry decision-makers say new technologies are dramatically changing the way their bank engages with customers, yet almost half (46%) still rely on in-person branch interactions as their primary method to engage with small business customers. Today, with the launch of Bill.com Connect, banks of all sizes can now bridge this digital divide and deliver a modern, digital bill pay and invoicing experience that meets the needs and expectations of their small and medium business customers.

"As a leading community bank we recognize the value of new technologies in strengthening customer relationships, and we are excited about what Bill.com Connect can deliver to an online banking platform," said Matt White, SVP of Small Business Banking at Commerce Bank. "By making the bank the go-to destination for the end-to-end payment process, Bill.com Connect has the potential to redefine the relationships banks have with their small business customers."

Bill.com Connect springs from a long history of Bill.com working with bank partners. This next-generation solution fills a void in the industry by delivering the following benefits to banks:
● A single platform: Bill.com Connect is the first to offer basic bill pay and invoicing capabilities in addition to premium functionality. Banks can now serve the entire continuum of SMB clients with a seamless upgrade path as their clients' needs grow and change.
● Higher Engagement: Businesses log in two times per day on average to manage their cash flow with bill pay and invoicing modules on the online banking portal.
● Robust tools, including mobile: Bill.com Connect simplifies and automates end-to-end bill pay and invoicing processes with electronic documents, approval workflows, network-based collaboration with vendors and customers, and complete synchronization with accounting systems. A mobile app delivers the same workflow and payment functionality on a mobile device.
● Conversion to digital payments: Bill.com Connect provides banks' clients with access to the largest business payment network-with more than 1.4M members and growing-enabling them to rapidly adopt digital payments and dramatically shift away from costly and antiquated check payments.
● Easy integration: With a long history of integrating with banks, Bill.com has standardized and streamlined the implementation process, requiring minimal development on the banking platform and enabling rapid time-to-market.

"Businesses overwhelmingly prefer a single location to manage their financial tasks, many of which can only be executed via online banking," said Christine Barry, Research Director at Aite Group. "By adding greater functionality to this critical platform through Bill.com Connect, banks have the opportunity to become the hub for their business customers payables and receivables activity."

For more information on Bill.com Connect features, visit www.bill.com/banks

Survey Methodology
The Bill.com Banking on Relationships Report is based on a survey conducted by Bill.com in partnership with SourceMedia Research and American Banker August 2016. The survey included a sample of 205 banking professionals who identified as holding a director-level or above position with a corporate bank. To view the full report visit www.bill.com/bankrelationships.

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