CIT Group’s treasury and payments services business is collaborating with B2B fintech innovator Fintainium to provide an integrated payments and financial workflow management solution for small and midsize businesses.
CIT and Fintainium will waive the first three months of subscription fees for this new solution and also waive all integration fees for businesses that enroll before June 30 in support of the current challenges for many small and midsize businesses.
Leveraging CIT’s advanced payments capabilities and Fintainium’s cloud-based platform, the collaboration is meant to improve financial workflow, increase management visibility and reporting, and provide payment execution in order to enhance cash-flow support for small and midsize businesses.
“Successfully handling payments workflows is one of the biggest challenges that businesses face in this period of economic uncertainty,” Bob McElyea, managing director of treasury and payment services for CIT, said. “Our collaboration with Fintainium is the right answer at the right time for small and midsize businesses, and we are pleased to offer a digital tool to help them manage their business from any location.”
“Managing cash flow is at the heart of every business and has never been more urgent than in these challenging business conditions,” Richard Jackman, CEO of Fintainium, said. “The Fintainium platform facilitates a remote and mobile workforce, connecting all of a business’ reviewing and approving parties for seamless business continuity whether in the office or working from home.”
The new SaaS-based payments solution integrates with existing accounting and ERP systems.