Innovating Business Banking: FNBO and Centime Redefine Cash Management Excellence

Innovating Business Banking: FNBO and Centime Redefine Cash Management Excellence

Author: Carrie Zoucha, Vice President, Commercial Payments-Centime Business Strategy

At FNBO, we understand the importance of evolving with our customers' needs. The rise of digital solutions, accelerated by the global pandemic, prompted us to expand our business banking services. Our collaboration with Centime, a leader in innovative cash management and payment processing solutions, marks a pivotal step in this journey.

Enhanced Business Banking for Modern Needs

This partnership has allowed us to introduce a suite of transformative features that extend beyond traditional banking. By incorporating Centime's robust technology, we have expanded our client service offerings to include:

• Accounts Payable Automation: Centime automates the traditional AP processes for customers, integrating invoice coding, approval routings and disbursements into a seamless workflow that connects directly with the general ledger. This bi-directional integration is crucial in today's fast-paced environment, enabling more efficient operations and enhanced visibility into cash flow.
• Accounts Receivable Automation: With Centime's AR automation, our clients can speed up payment processes and reduce days sales outstanding (DSO). This automation not only accelerates collections and integrates secure payment options but also can strengthen client relationships thanks to simple, convenient payment experiences.
• Cash Management Optimization: Leveraging advanced AI tools, Centime’s cash management platform provides sophisticated cash flow management and forecasting, helping our clients can plan their finances with greater accuracy and confidence.
• Centime Banking: This new banking solution* gives businesses everything they need to manage, optimize and protect cash and working capital. All accounts and financial institution relationships can be viewed and managed in a single integrated dashboard. Client cash is put to work with a high-yield, fully liquid checking account. And funds are protected with expanded FDIC coverage** and electronic payment fraud protection.^†

A Testament to Collaborative Success

The benefits of this partnership are clear, with users reporting reduced processing times and operational costs. As one FNBO payments advisor reported, "Centime has significantly enhanced our customers' efficiency, saving them time and money while strengthening the security of their payment processes."

The collaboration creates a mutual learning experience, as FNBO gains insights into how fintech companies propel modernization, drive product development and create robust digital experiences for customers while Centime benefits from FNBO’s extensive banking knowledge and risk management frameworks.

"Our partnership with FNBO exemplifies the strength of collaboration between traditional banking and fintech innovation,” said BC Krishna, Centime’s founder. “Together, we're setting new benchmarks for operational excellence and customer satisfaction."

Looking Ahead: FNBO and Centime's Continued Impact

The FNBO-Centime partnership not only sets new standards in banking innovation but also serves as a model for future fintech projects.

The collaboration helps solve a critical need for the financial wellbeing of our customers and provides an opportunity to learn how a Fintech company innovates.

As we continue to build on this successful foundation, we are excited to lead the way in adopting new technologies that redefine the banking experience, ensuring we remain at the forefront of the financial industry's evolution. This strategic alliance represents our commitment to blending traditional reliability with cutting-edge solutions to better serve our clients.

About the Author
Carrie has over 20 years of banking and payments industry experience. In her current role, she has the opportunity to work with large corporate clients. She enjoys learning about their business and helping them grow by providing a range of solutions, including commercial card and corporate treasury services.