Trusted financial institution Randolph-Brooks Federal Credit Union is now offering its 60,000+ business members access to FINSYNC’s cash flow management platform. What does this mean for RBFCU members looking to better manage their businesses?

By FINSYNC

FINSYNC recently partnered with Randolph-Brooks Federal Credit Union (RBFCU), a trusted financial partner and innovative credit union. Now anyone interested in FINSYNC can walk into any RBFCU branch and speak to employees trained on the benefits of the platform, specifically how it improves business operations. 

Headquartered in Live Oak, Texas, RBFCU is one of the largest credit unions in the United States, serving more than 500,000 members across Texas. 

RBFCU is also the first financial institution in the nation to offer its business customers the ability to pay virtually any business with their credit card via FINSYNC Pay — including businesses that are not set up for merchant processing. 

Through this partnership, RBFCU members leverage FINSYNC’s other advanced payments capabilities including analytics, document storage, and other types of payments including ACH and remote-cut check. 

This partnership represents RBFCU’s ongoing mission to better serve their members and help their businesses succeed. According to RBFCU, “Our goal as a credit union is to provide the best service possible to our members, and we believe this partnership will help them save time and focus on what is most important: running a business.”

What advantages does the FINSYNC – RBFCU partnership provide to small businesses? Let’s break down the biggest benefits of the partnership.

Helping Small Businesses Manage Their Finances

FINSYNC is an all-in-one payments platform designed to help businesses get all of their finances in sync. FINSYNC has partnered with RBFCU around the shared goal of helping businesses grow in new and empowering ways. 

RBFCU members can now take advantage of FINSYNC’s innovative software and the many advantages it can provide their business. Here are four ways this partnership is helping the credit union help more businesses.

 

  1. Payment Flexibility

With FINSYNC Pay, customers can use a credit card to make payments to vendors and merchants that are not set up to receive credit payments. This capability provides a new level of payment flexibility that can dramatically improve cash flow.

Businesses can send vendors a payment on their charge card using just an email address, without the end recipient ever knowing or seeing their card information. Payment recipients can check out as a guest or set up an account for free. 

In addition to credit card payments by email, FINSYNC offers bill pay by ACH and remote-cut check.

On the income side, FINSYNC Pay allows businesses to request a payment from a customer, who can then pay by ACH, charge card and even checks, which FINSYNC processes through its lockbox service.

With a combined set of payments tools, businesses can be 100% digital even if they have paper-based customers or vendors.

  1. Cash Flow Analysis

Many businesses struggle to visualize and understand their cash flow. According to the SBA, 82% of small businesses fail due to cash flow problems. Now that RBFCU business partners have FINSYNC in their arsenal, they can better manage their cash flow and stay on top of their finances.

The FINSYNC dashboard makes it easy to see all current metrics and predictive analytics to understand when and where cash flow issues may arise. These advanced cash flow analytics help businesses make informed financial decisions and grow as a business.

  1. Access to Expert Insight

Small businesses often have a need for professional financial assistance, but may not have the budget or need for full-time help. FINSYNC’s virtual assistance network offers businesses on-demand assistance from independent financial professionals. 

For a fee, RBFCU members can access support for bookkeeping, accounting, human capital management or financial analysis. FINSYNC’s partner directory matches businesses with the right professional at the right time.

  1. Improved Efficiency

RBFCU members that use FINSYNC are able to operate more efficiently, so they can spend more time growing their businesses. The platform automates a variety of back-office tasks to improve operational efficiency and lower operating costs.
 

Giving Business Clients the Tools to Succeed

In today’s competitive banking landscape, forward-thinking financial institutions are looking for ways to offer their clients more value beyond traditional services, acting as true advocates for their small businesses. In partnering with FINSYNC, RBFCU is helping its members centralize control over their finances within a single platform so they can grow in new and empowering ways. 

You don’t have to be a member of RBFCU to benefit from FINSYNC. Get started today and leverage FINSYNC’s integrated functionality to provide more value to your customers and better grow your business.