Reduce the time needed for small business underwriting and accounting reconciliation

Experience a state-of-the-art intelligent API technology solution designed to fix data reliability issues in traditional business lending. Map transactions between banks and accounting software to identify suspicious activity and provide accounting books auto-reconciliation with our API.

ForwardAI

Validate accounting insights instantly

Accounting data is the richest data source for a small business as it gives a clear, deep view of the overall financial health of a company, which can help make loan decisions faster or conduct a thorough business analysis. To compensate for the potential of unreliable information, lenders often turn to banking data. However, banking data offers little context, and cross-referencing data can be a tedious process.

PreciseMatch removes manual labour and improves accuracy by automatically cross-referencing banking and accounting transactions to create an overview of a small business's finances.

Fight fraud by highlighting suspicious activity

PreciseMatch uses artificial intelligence to fight fraud by assigning a Confidence Score and Trust Score to every transaction. Using our technology, financial institutions or lenders can manually review highlighted transactions to ensure they are real or create system event thresholds within the API to automatically deny untrustworthy borrowers.

PreciseMatch technology can open and revolutionize cash-flow-based small business lending. With access to validated real-time sales data, customer payment behaviour, vendors, and more, lenders can avoid lengthy application processes for small amount loans for existing small business clients and reduce the costs associated with underwriting.

Allow clients to automatically reconcile accounting and banking data

Reconciliation is an essential component of running a small business, often taking hours or days to complete depending on the company's size. This process is manual-intensive work, often requiring businesses to hire specific employees to maintain the ledgers and perform book closing.

ForwardAI's integrations with leading small business software brands can power automatic reconciliation products, saving customers from countless hours of manual workload and the staffing costs that arise from it.

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